New York City, 02 March 2020: The report gives Global
market for cyber security market has evaluated the historical and
current performance of this market, especially highlighting the key trends and
growth opportunities. According to the study, the rising demand for this
product is driving the Global market for significantly. The expansion in the
various related industry is also expected to reflect positively on the sales of
product over the next few years.
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Market Overview: According to a new research published by
Polaris Market Research, the cyber security market is anticipated to reach over
USD 269 billion by 2026. The growing need for protection of sensitive data, and
increasing cyber terrorism has boosted the adoption of cyber security
solutions. The rising penetration of mobile devices, and increasing trend of
BYOD further support the growth of this market. Additionally, the increasing
demand of cyber security solutions from small and medium enterprises has
supported market growth over the years. Increasing investments by vendors in
technological advancements coupled with growing demand for cloud-based cyber
security solutions would accelerate the growth of the cyber security market.
However, However, growing use of pirated cyber security solutions, and
complexities associated with device security hinder market growth. Growing
demand from emerging economies is expected to provide numerous growth
opportunities in the coming years.
Regional Overview:
North America generated the highest revenue in the market in
2017, and is expected to lead the global market throughout the forecast period.
The increase in number of cyber-attacks, and growing trend of BYOD drive the
market growth in the region. The growing penetration of mobile devices, and
technological advancements further support market growth in the region. The
increasing spending on data protection in BFSI and defense sectors in the
region further promote market growth in the region. Asia-Pacific is expected to
grow at the highest CAGR during the forecast period owing to growing need for
data privacy across various industries in the developing countries of the
region.
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The end-users in cyber security market include BFSI, IT
& Telecom, healthcare, retail, defense and government, travel and
hospitality, and others. In 2017, the defense and government segment accounted
for the highest market share owing to increasing need to protect sensitive data
and avoid cyber-attacks. The growing government spending to provide enhanced
cyber security to the public sector and increasing implementation of cyber
security installations in the defense sector, especially in developing
countries, supports the market growth in this sector. The increasing adoption
of cloud-based cyber security in this sector is expected to support market
growth in the coming years.
The well-known
companies profiled :
Symantec Corporation, Cisco Systems Inc., BAE Systems Inc.,
EMC Corporation, Hewlett-Packard Enterprise, Intel Security, Palo Alto
Networks, Proofpoint Inc., LogRhythm Inc., IBM Corporation, Fortinet, Inc., and
Centrify Corporation among others. These companies launch new products and
collaborate with other market leaders to innovate and launch new products to
meet the increasing needs and requirements of consumers.
About Polaris Market Research
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across different enterprises.
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