Zion Research has published a new report titled “Cyber Security Market by Type (Network Security, Cloud Security, Wireless Security and Others), By Solution (Identity And Access Management (IAM), Encryption, Risk And Compliance Management, Data Loss Prevention, Antivirus And Antimalware, Firewall And Others), By Vertical (Aerospace, Government, Financial Services, Telecommunication, Healthcare And Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021.” According to the report, global demand for cyber security market was valued at USD 105.45 billion in 2015, is expected to reach USD 181.77 billion in 2021 and is anticipated to grow at a CAGR of 9.5% between 2016 and 2021.
Cyber security can be described as the security of systems, networks and data in cyberspace. Cyber security is a serious issue for all businesses across the globe. This field is of growing importance due to the increasing dependence on computer systems and the growth of smart devices such as smart phones and tablets. One of the most challenging elements of cyber security is the rapidly and continuously developing nature of security risks.
Browse 42 Market Tables and 46 Figures spread through 110 Pages and an in-depth TOC on “Cyber Security Market – Global Size, Shares, Trends, Segment & Forecast to 2021”
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The cyber security market is one of the highest growing markets in the information technology domain and it yields large economic opportunities. Growing risks such as computer hacking, software piracy and virus deployment are increasing the demand for cyber securities services. The governments of various countries are increasing their investment in cyber security owing to development in computer interconnectivity and remarkable growth in computing power of government networks.
The major drivers of this market include stringent government regulation on data privacy, and increasing cyber threats. Lack of awareness and availability of pirated security software are expected to hamper the cyber security market in forecast period. There is a significant increase in the cyber security market due to development in cyber solution and services and it offers various options to safeguard data. Providing cyber security solution to ever increasing government IT domain becomes an expensive challenge for the government authorities.
Cyber security market is segmented based on security types, solution, and vertical and by regions. On the basic of security types market is divided into network security, cloud security, wireless security and others. Cyber solution segment includes identity and access management (IAM), encryption, risk and compliance management, data loss prevention, antivirus and antimalware, firewall and others. By vertical, market is segmented into aerospace, government, financial services, telecommunication, healthcare and others.
Browse the full “Cyber security (Network Security, Cloud Security, Wireless Security and Others) Market, By Solution (Identity and Access Management (IAM), Encryption, Risk and Compliance Management, Data Loss Prevention, Antivirus And Antimalware, Firewall And Others), By Vertical (Aerospace, Government, Financial Services, Telecommunication, Healthcare And Others): Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021” report at https://www.zionmarketresearch.com/report/cyber-security-market
North America dominated the cyber security market in 2015, which was mainly contributed by rapid adoption of cloud computing, strict rules by government and emerging possible cyber threats. The U.S. accounted maximum share in the cyber security solutions and services market in 2015. U.S. is the leading market in this region as it acquired more than 80% share in the cyber security market. Cyber security market in North America will grow at moderate rate in upcoming years.
Europe was second leading player in cyber security market in 2015, owing to rising number of mobile workforce, adoption of cloud-based services and broad opportunity for cyber vendors in the market. Europe is expected to remain relatively stable over the forecast period.
Asia Pacific market is expected to show rapid growth, primarily due to increase in cyber crime and demand for cyber security solutions and products in emerging economies in this regions. Asia Pacific region is expected to grow at a highest rate in the near future.
Latin America expected to be the future market for cyber security. It expected to show huge development in next five years. Brazil is seen as the most potential business sector in Latin America for cyber security market. Latin America shows promising growth for cyber security market.
Middle East is witnessing significant growth in cyber security market due to growing market opportunities in industries such as financial, healthcare, and banking. With the speedy economic growth and increasing risk of cyber crimes, many industries in the Middle East countries have started to recognize the need for cyber security system. This develops healthy demand for cyber security systems among the organizations in this region.