According to a research report “Cyber Security Market by Component (Software, Hardware, and Services), Software (IAM, Encryption and Tokenization, and Other Software), Security Type, Deployment Mode, Organization Size, Vertical and Region – Global Forecast to 2027″ published by MarketsandMarkets, the global cyber security market size is expected to grow from an estimated value of USD 173.5 billion in 2022 to 266.2 billion USD by 2027, at a Compound Annual Growth Rate (CAGR) of 8.9% from 2022 to 2027.
Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=505
Some factors driving the cyber security market growth include increment in target-based cyberattacks that causes operational disruptions, Cybersecurity Mesh Architecture (CSMA) approaches becoming more popular, and the rising demand for cyber-savvy boards.
What is Cybersecurity?
MarketsandMarkets defines cyber security, as a set of technologies, processes, and practices to fortify critical systems such as networks, physical devices, programs, information from unauthorized access, insider threats, and malicious attacks. These cyberattacks can affect the data transmission across the networks, cause operational disruptions, and result in money extortion/ransomware.
Competitive overview:
The cyber security market is led by some of the globally established players such as IBM, Cisco, Check Point, Trellix, Trend Micro and others. These players have adopted various growth strategies such as partnerships, agreements, collaboration, acquisitions, and product developments to increase their market presence.
IBM is a computer, technology, and IT consulting corporation. The company offers cyber security solutions, including IAM, cloud security, application security, network projection, intelligence and operations, data protection, and endpoint security. It also offers cyber security services, including data security services, security intelligence and operations, consulting, secure engineering and application security, and security strategy risk and compliance. IBM’s security division offers next-generation security threat intelligence solutions and services in the cybersecurity market. The company offers its services to various industries including supply chain, financial services, automotive, real estate, food safety, identity, and international trade. It has a global reach in North America, Europe, Middle East and Africa, Asia Pacific, and Latin America.
Request Sample Pages : https://www.marketsandmarkets.com/requestsampleNew.asp?id=505
Apart from large vendors, some SMEs, and start-ups such as DataVisor, RevBits, WiJungle, BluVector, Aristi Labs, Imperva, Securden, Algosec, Cynet, and Nozomi Networks are also evolving in the cyber security market. The primary goals of RevBits cyber security are the creation of cutting-edge security software and unmatched cyber incident services. It offers cyber security products and services dedicated to producing cutting-edge security software and unequaled cyber incident services. The company’s software solutions protect organizations in the following areas: endpoint security, next-generation anti-phish and privileged access management. All solutions may be managed through a unified dashboard interface, the RevBits Cyber Intelligence Platform. This single sign-on environment allows administrators to customize their management dashboard and delivers cross-platform alert notifications.
According to MnM’s market evaluation framework, most companies opt for inorganic growth strategies to maintain their position in the market. The number of deals increased by around 50-60% relatively in the period 2020-2021. These deals collectively include partnerships, acquisitions, collaborations, and alliances. Due to the COVID-19 outbreak, there was a sudden decline in product launches and business expansion activities. However, from 2021 onwards, companies are expected to follow organic growth strategies to provide cyber security solutions and services to end users, which, on the other hand, would help companies in increasing their market revenue.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
