Global Cyber Security Market Forecast to 2032
The global cybersecurity market size reached USD 203.8 billion in 2022 and is expected to register a revenue CAGR of 12.2% during the forecast period, according to the latest analysis by Emergen Research. The increasing number of new tools for cyber-attacks and the rapid adoption of Cybersecurity Mesh Architecture (CSMA) by organizations are key factors driving the revenue growth of the market.
The most current market research report from Emergen Research, which focuses on the global Cybersecurity market, provides in-depth analysis of each of the market’s major segments. The research on the global Cybersecurity market includes information on market size, revenue growth rate, industry data, revenue splits by regional markets, gross margins, production costs, and product portfolios. The report also highlights a number of other micro- and macroeconomic factors, including the most important drivers, opportunities, trends, difficulties, supply and demand ratios, production and consumption patterns, stringent regulatory frameworks, and a wide range of other factors.
The purpose of CSMA is to modularize security functions and allow them to communicate with one another via a number of supporting layers, increasing security’s composability and scalability. A company can accomplish greater security with fewer resources due to CSMA’s ability to make security more unified and collaborative. These factors are expected to drive revenue growth in the market over the forecast period.
The goal of CSMA is to offer a framework that is scalable, interoperable, and composable to enable better interoperability across different security policies and solutions. The foundational layers of CSMA outline fundamental security objectives and capabilities that different security solutions can work together to accomplish. This is expected to drive revenue growth in the market.
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The global Cyber Security industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies. Artificial Intelligence and Machine Learning.
The leading market contenders listed in the report are:
IBM Corporation, Cisco Systems, Juniper Networks, CyberArk, Forcepoint, McAfee, Microsoft, F5 Networks, Oracle, and Fortinet
Research Report on the Cyber Security Market Addresses the Following Key Questions:
- Who are the dominant players of the Cyber Security market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Cyber Security market?
- What are the key growth drivers and restraining factors of the Cyber Security market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Cyber Security market and its key segments?
The report bifurcates the Cyber Security market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Component Outlook (Revenue, USD Billion; 2019–2032)
- Solution Outlook (Revenue, USD Billion; 2019–2032)
- Threat Intelligence
- Identity and Access Management
- Security and Vulnerability Management
- Risk and Compliance Management
- Others (Others include threat intelligence platforms, SIEM, and incident forensics)
- Data Loss Prevention
- Network DLP
- Storage/ Data Center DLP
- Endpoint DLP
- Unified Threat Management
- Antivirus/ Antimalware
- Intrusion Detection Systems/ Intrusion Prevention Systems
- Disaster Recovery
- Distributed Denial of Service
- Web Filtering
- Others (Other solutions include application whitelisting and patch management)
- Threat Intelligence
- Services Outlook (Revenue, USD Billion; 2019–2032)
- Professional Services
- Design and Integration
- Risk and Threat Assessment
- Training and Education
- Support and Maintenance
- Managed Security Services
- Professional Services
Regional Landscape section of the Cyber Security report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
- The service segment accounted for a significant revenue share in the global cybersecurity market in 2022. This can be attributed to rapid increase in threats of cyber-attack across the globe. Major Information Technology (IT) companies are providing various security services in order to provide protection to cyber infrastructure of end-user companies to meet rising demand. This is driving revenue growth of the segment.
- The infrastructure protection segment accounted for largest revenue share in 2022. The modern business environment is becoming more digital, along with increasing number of targeted cyberattacks on vital infrastructure and IT systems. Implementing infrastructure security enables businesses to foresee, respond to, and guard against a wide range of threats as well as major incidents impacting critical infrastructure environments.
- The Identity and Access Management (IAM) segment is expected to account for largest revenue share over the forecast period, which can be attributed to increasing usage of IAM solutions by IT and security organizations to manage user identities and restrict access to corporate resources.
- The Defense & government segment is expected to account for largest revenue share over the forecast period. This can be attribute to increasing number of cyber-attacks aimed at government agencies and public organizations, which has led to rising demand for cybersecurity solutions.
- The market in North America is expected to register largest revenue share over the forecast period. Conducive government policies such as Infrastructure Investment and Jobs Act in order to drive investment and strengthen cybersecurity and protect sensitive data.
- On 19 December 2022, CrowdStrike expanded its Falcon platform with an addition of an External Attack Surface Management (EASM) module. The service uses a proprietary engine to continuously search the internet to find customers’ known and unknown exposed assets, flags and prioritizes the risks, and provides automated remediation step suggestions through the optimizer services.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Cyber Security market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
- Data and information related to the consumption rate in each region
- Estimated increase in the consumption rate
- Proposed growth of the market share of each region
- Geographical contribution to market revenue
- Expected growth rate of the regional markets
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