Cybersecurity Market - Trends Forecast Till 2028

Market Overview

The global cyber security market size was valued at USD 167.13 billion in 2020 and is expected to register a CAGR of 10.9% from 2021 to 2028.

Cybersecurity solutions help organizations monitor, detect, report, and counter cyber threats to maintain data confidentiality. The adoption of cybersecurity solutions is expected to grow with the increasing internet penetration among developing and developed countries. The need for security solutions has been marked highly by the private financial and banking services sectors and the healthcare and aerospace defence sectors.

Rapidly increasing cybersecurity incidents and regulations requiring their reporting and The adoption of M2M/IoT connections demands strengthened cybersecurity in enterprises are some of the factors that have supported long-term expansion for Cybersecurity Market.

Amidst the COVID-19 pandemic crisis, various governments and regulatory authorities mandate both public and private organizations to embrace new practices for working remotely and maintaining social distancing.

Regional Analysis

Asia-Pacific is expected to have the highest market growth for cybersecurity solutions over the forecast period. The strong presence of several market incumbents, coupled with recent security threats in the region, is expected to accelerate these solutions further.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Broadcom (Symantec CorporationCorp.)
• Check Point Software Technology Ltd.
• Cisco Systems, Inc.
• IBM; McAfee, LLC
• Palo Alto Networks, Inc.
• Trend Micro, Incorporated Inc.

Recent Developments

• In October 2020, IBM Security announced new and upcoming capabilities for Cloud Pak for Security, that includes a data security solution that enables companies to detect, respond, and protect from threats to their most sensitive data across hybrid cloud environments.
• In February 2020, Oracle and Microsoft expanded their cloud collaboration with a new cloud interconnect location in Amsterdam, Netherlands. The new interconnect location would enable these businesses to share data across applications running in Microsoft Azure and Oracle Cloud.

Reasons to Acquire

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• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope