Global cybersecurity market is expected to register a CAGR of around 11% over the period of 2021-2027.
This is due to the increasing number of people and devices connected to the internet that can be hacked and the rise in malware and phishing threats among people. Hackers don’t just target computers, websites, and servers; any device based on programming offers an opportunity for them. From the most complex to the simplest network, if they are connected to the internet, they are highly prone to cyber-attacks. Moreover, there are several types of cyber threats present that can breach the security and steal the data such as malware, backdoors, formjacking, cryptojacking, distributed denial-of-service (DDoS) attacks, and domain name system (DNS) poisoning attacks.
Based on type,
the cybersecurity market is bifurcated into solutions and services. The service
segment grabbed a significant amount of market share in 2020 and is expected to
be the prominent shareholder during the forecast period. The growth of this segment
can be attributed to the increasing demand for consulting services and upgrade
services from SMEs. Small and medium enterprises have a limited
budget and small teams, due to which these enterprises depend on consultations
before implementing any solutions.
On the basis of deployment, the cybersecurity market is segmented into
cloud and on-premises. The on-premises deployment held a considerable market share
in 2020 and is expected to grow at a robust growth rate during the forecast
period. This is because several large organizations prefer to have complete
control of the solutions and on-premises deployment provides complete customization and
upgradation options to the enterprises. On-premises deployment reduces dependency on third-party
organizations providing more protection from cyber-attacks.
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For a better
understanding of the market adoption of cybersecurity, the market is analyzed based on its worldwide presence in
the countries such as North America (US, Canada, Rest of North America), Europe
(Germany, France, Spain, UK, and Rest of Europe), Asia-Pacific (China, Japan, India,
South Korea Rest of APAC), Rest of the World. North America acquired a considerable
market share in the cybersecurity market and is expected to grow at an
extensive rate mainly owing to the rising
number of high-security data breaches and an increasing number of e-commerce
platforms in the region.
Some of the
major players operating in the cybersecurity market are Cisco
Systems Inc., Check Point Software Technologies Ltd., Palo Alto Networks Inc.,
Fortinet Inc., International Business Machines Corporation, Sophos Ltd., Oracle
Corporation, McAfee LLC, RSA Security LLC, NortonLifeLock Inc.
Global Solar Panel Cleaning Market Segmentation
Market Insight, by Type
Solutions
Services
Market Insight, by Deployment
Cloud
On-premises
Market Insight, by Organization size
Large Enterprises
SMEs
Market Insight, by Industry
Banking and Financial Services
Healthcare
Information and Communication Technology
Government
Others
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Market Insight, by Region
North America
US
Canada
Rest of North America
Europe
Germany
France
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Rest of the World
Top Company Profiles
Cisco Systems Inc.
Check Point Software Technologies Ltd.
Palo Alto Networks Inc.
Fortinet Inc.
International Business Machines Corporation
Sophos Ltd.
Oracle Corporation
McAfee LLC
RSA Security LLC
NortonLifeLock Inc.
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