The global cyber security market is projected to exceed US$ 330 Billion by 2027. Cybersecurity is becoming a strategic imperative for organization owing to increased focus on preventing information in the wake of high-profile data thefts and breaches. The worldwide spending on cybersecurity is increasing as it is becoming difficult to keep pace with the rise in cybercrimes and malware attacks on governments, BFSI and healthcare organizations. The adoption of cybersecurity solutions is expected to grow with the increasing penetration of internet among developing and developed countries. Also, the expanding wireless network for mobile devices has increased data vulnerability making cybersecurity an integral part of every single organization across the world.
Impact of COVID-19 on Global Cyber Security Market
The COVID-19 outbreak has become a global stress test. As the number of people infected with the virus continues to rise around the world, uncertainties about global economic growth increases. The COVID-19 disease has infected around 243 Million people worldwide. Globally the death toll has reached 4,937,666, according to the latest statistics from the Worldometers (as of October 21, 2021). The number is still growing, and the duration of the pandemic is still difficult to predict. The reactions to the COVID-19 pandemic and its effects on societies and economies around the world cannot be understated.
The COVID-19 pandemic has created new challenges for businesses as they adapt to an operating model in which working from home has become the new normal'. Companies are accelerating their digital transformation, and cybersecurity is now a major concern. Amidst the COVID-19 pandemic, various governments and regulatory authorities mandate both public and private organizations to embrace new practices for working remotely and maintaining social distancing. In the wake of the COVID-19 pandemic, several incidences and cases of cybercrimes were observed across various sectors. Between 9th March 2020 and 6th April 2020, hackers registered over 300,000 websites that used coronavirus-related keywords to lure victims. Moreover, the year 2020 saw an increase in U.S. healthcare data breaches of 25% over 2019. This upsurge in sophisticated cyberattacks has encouraged organizations to adopt solutions and configure malware protection, detection, and mitigation strategies, thereby fueling the market growth.
By Products Segment - Global Cyber Security Market & Forecast
- Network Security, Security and Vulnerability Management (SVM), and Identity and Access Management (IAM) are the top products segment by size and growth prospects.
- Network security emerged as the most attractive product segment by size.
- Identity and Access Management (IAM) accounted for around 17% share of the overall product market in 2020.
- Security and Vulnerability Management (SVM) is anticipated to capture nearly 22% share of the overall cyber security products market by 2027.
- Messaging security and web security are product groups with low growth prospects.
By Services Segment - Global Cyber Security Market & Forecast
- The services segment dominates the overall cyber security market.
- In 2020, the managed security services captured maximum share of the overall cyber security services market.
- The security consulting services segment captured over 17% share of the overall cyber security services market in 2020.
- The education and training segment captured least share of the overall cyber security services market.
By Industry Verticals - Global Cyber Security Market & Forecast
- The government/defense sector accounted for maximum share of the global cyber security market in 2020.
- Banking, Financial Services and Insurance (BFSI) sector accounted for nearly 24% share of the global cyber security market in 2020.
- Manufacturing companies were not known for storing sensitive information, but that has changed in a big way.
- The information and communications technology (ICT) sector captured around 10% share of the global cyber security market in 2020.
- The healthcare industry was responsible for around 7% share of the global cyber security market in 2020.
By Geography - Global Cyber Security Market & Forecast
- North America captured maximum share of the global cybersecurity market in 2020, followed by Europe.
- Asia Pacific (APAC) is expected to offer significant growth opportunities to vendors in the cybersecurity market, as countries in this region are investing heavily in deploying cybersecurity and compliance management solutions.
- Countries such as India and China are rapidly moving toward digitization in all the sector which is anticipated to increase the cybercrime activities in the region.
- In MEA, the rapid digitalization in countries, like the UAE and Saudi Arabia, has triggered the number of connected devices by opening new gateways for cyberattacks.
By Deployment Mode - Global Cyber Security Market & Forecast
- The cloud-based segment dominates the global cyber security market. The cloud deployment mode of cybersecurity solutions benefits enterprises with cloud-based solutions offering speed, scalability, and enhanced IT security.
- The on-premises deployment mode enables organizations to have a more control over all the cybersecurity solutions such as next-generation firewalls and next-generation intrusion prevention system.
By Organization Size - Global Cyber Security Market & Forecast
- Large enterprises accounts for a higher market share in terms of revenue in the global cybersecurity market.
- The Small and Medium-Sized Enterprises (SMEs) segment is anticipated to register the highest growth over the forecast period.
iGATE RESEARCH report titled "Global Cyber Security Market (By Products Segment, Services Segment, Industry Verticals, Geography, Deployment Mode, Organization Size), Impact of COVID-19, Recent Developments & Major Deals - Forecast to 2027" provides a comprehensive assessment of the fast-evolving, high-growth Cyber Security Market.
This 144 Pages report with 62 Figures and 14 Tables has been analyzed from 10 viewpoints:
1. Global Cyber Security Market & Forecast (2015 - 2027)
2. Global Cyber Security Market Share & Forecast (2015 - 2027)
3. By Products Segment - Global Cyber Security Market & Forecast (2015 - 2027)
4. By Services Segment - Global Cyber Security Market & Forecast (2015 - 2027)
5. By Industry Verticals - Global Cyber Security Market & Forecast (2015 - 2027)
6. By Geography - Global Cyber Security Market & Forecast (2015 - 2027)
7. By Deployment Mode - Global Cyber Security Market & Forecast (2015 - 2027)
8. By Organization Size - Global Cyber Security Market & Forecast (2015 - 2027)
9. Global Cyber Security Market - Recent Developments & Major Deals
10. Global Cyber Security Market - Growth Drivers and Challenges
By Products Segment - Global Cyber Security Market & Forecast
- Network Security
- Identity and Access Management (IAM)
- Security and Vulnerability Management (SVM)
- End Point Security
- Messaging Security
- Web Security
- Others
By Services Segment - Global Cyber Security Market & Forecast
- Managed Security Services
- Integration Solutions
- Security Consulting
- Education and Training
By Industry Verticals - Global Cyber Security Market & Forecast
- Government/Defense
- Banking, Financial services and Insurance
- Manufacturing
- Information and Communication Technology (ICT)
- Retail
- Healthcare
- Energy & Utilities
- Others
Global Cyber Security Market & Forecast - By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
By Deployment Mode - Global Cyber Security Market & Forecast
- Cloud-Based
- On-Premises
By Organization Size - Global Cyber Security Market & Forecast
- Large Enterprises
- Small and Medium-Sized Enterprises (SMEs)
Data Sources
iGATE RESEARCH employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by iGATE Research dedicated team of qualified professionals with deep industry experience and expertise.
Research Methodologies
Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
Secondary Research Methodologies: Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.
Table of Contents
1. Executive Summary
2. Impact of COVID-19 on Global Cyber Security Market
3. Global Cyber Security Market & Forecast to 2027
3.1 By Product Segments - Global Cyber Security Market & Forecast
3.2 By Service Segments - Global Cyber Security Market & Forecast
4. Global Cyber Security Market Share & Forecast to 2027
4.1 Global Cyber Security Market Share & Forecast - Product Vs Service Segments
4.2 By Product Segments - Global Cyber Security Market Share & Forecast
4.3 By Service Segments - Global Cyber Security Market Share & Forecast
4.4 By Industry Verticals - Global Cyber Security Market Share & Forecast
4.5 By Geography - Global Cyber Security Market Share & Forecast
4.6 By Deployment Mode - Global Cyber Security Market Share & Forecast
4.7 By Organization Size - Global Cyber Security Market Share & Forecast
5. By Product Segments - Global Cyber Security Market & Forecast to 2027
5.1 Network Security Market & Forecast
5.2 Identity and Access Management (IAM) Market & Forecast
5.3 Security and Vulnerability Management (SVM) Market & Forecast
5.4 End Point Security Market & Forecast
5.5 Messaging Security Market & Forecast
5.6 Web Security Market & Forecast
5.7 Others Market & Forecast
6. By Service Segments - Global Cyber Security Market & Forecast to 2027
6.1 Managed Security Services Market & Forecast
6.2 Integration Solutions Market & Forecast
6.3 Security Consulting Market & Forecast
6.4 Education and Training Market & Forecast
7. By Industry Verticals - Global Cyber Security Market & Forecast to 2027
7.1 Government/Defense Sector - Cyber Security Market & Forecast
7.2 Banking, Financial services and Insurance Sector - Cyber Security Market & Forecast
7.3 Manufacturing Sector - Cyber Security Market & Forecast
7.4 Information and Communication Technology (ICT) Sector - Cyber Security Market & Forecast
7.5 Retail Sector - Cyber Security Market & Forecast
7.6 Healthcare Sector - Cyber Security Market & Forecast
7.7 Energy & Utilities Sector - Cyber Security Market & Forecast
7.8 Others Sector - Cyber Security Market & Forecast
8. By Geography - Global Cyber Security Market & Forecast to 2027
8.1 North America - Cyber Security Market & Forecast
8.2 Europe - Cyber Security Market & Forecast
8.3 Asia Pacific - Cyber Security Market & Forecast
8.4 Latin America - Cyber Security Market & Forecast
8.5 Middle East & Africa - Cyber Security Market & Forecast
9. By Deployment Mode - Global Cyber Security Market & Forecast to 2027
9.1 Global - Cloud-Based Cyber Security Market & Forecast
9.2 Global - On-Premises Cyber Security Market & Forecast
10. By Organization Size - Global Cyber Security Market & Forecast to 2027
10.1 Global - Large Enterprises Cyber Security Market & Forecast
10.2 Global - Small and Medium-Sized Enterprises (SMEs) Cyber Security Market & Forecast
11. Global Cyber Security Market - Recent Developments & Major Deals
11.1 2021
11.2 2020
11.3 2019
11.4 2018
11.5 2017
12. Global Cyber Security Market - Growth Drivers
12.1 Rising Trend of Digitization
12.2 Rising Number of Cyber Attacks
12.3 Increasing Cost of Cybercrime
12.4 Increasing BYOD Implementation
12.5 Increasing Demand for the Cybersecurity Mesh
12.6 Stringent Industry Standards and Regulations
13. Global Cyber Security Market - Challenges
13.1 Shortage of Cyber Security Experts
13.2 Low Cybersecurity Budget and High Installation Cost
13.3 Design and Implementation Difficulties to Deploy Cybersecurity Solutions
13.4 Need for Continuous Investment
List of Tables:
Table 4-1: By Product Vs Service Segments - Global Cyber Security Market Share (Percent), 2015 - 202032
Table 4-2: By Product Vs Service Segments - Forecast for Global Cyber Security Market Share (Percent), 2021 - 2027
Table 4-3: By Product Segments - Global Cyber Security Market Share (Percent), 2015 - 2020
Table 4-4: By Product Segments - Forecast for Global Cyber Security Market Share (Percent), 2021 - 2027
Table 4-5: By Service Segments - Global Cyber Security Market Share (Percent), 2015 - 2020
Table 4-6: By Service Segments - Forecast for Global Cyber Security Market Share (Percent), 2021 - 2027
Table 4-7: By Industry Verticals - Global Cyber Security Market Share (Percent), 2015 - 2020
Table 4-8: By Industry Verticals - Forecast for Global Cyber Security Market Share (Percent), 2021 - 2027
Table 4-9: By Geography - Global Cyber Security Market Share (Percent), 2015 - 2020
Table 4-10: By Geography - Forecast for Global Cyber Security Market Share (Percent), 2021 - 2027
Table 4-11: By Deployment Mode - Global Cyber Security Market Share (Percent), 2015 - 2020
Table 4-12: By Deployment Mode - Forecast for Global Cyber Security Market Share (Percent), 2021 - 2027
Table 4-13: By Organization Size - Global Cyber Security Market Share (Percent), 2015 - 2020
Table 4-14: By Organization Size - Forecast for Global Cyber Security Market Share (Percent), 2021 - 2027
List of Figures:
Figure 3-1: Global - Cyber Security Market (Billion US$), 2015 - 2020
Figure 3-2: Global - Forecast for Cyber Security Market (Billion US$), 2021 - 2027
Figure 3-3: By Product Segments - Global Cyber Security Market (Billion US$), 2015 - 2020
Figure 3-4: By Product Segments - Forecast for Global Cyber Security Market (Billion US$), 2021 - 2027
Figure 3-5: By Service Segments - Global Cyber Security Market (Billion US$), 2015 - 2020
Figure 3-6: By Service Segments - Forecast for Global Cyber Security Market (Billion US$), 2021 - 2027
Figure 5-1: Global Cyber Security - Network Security Market (Billion US$), 2015 - 2020
Figure 5-2: Global Cyber Security - Forecast for Network Security Market (Billion US$), 2021 - 2027
Figure 5-3: Global Cyber Security - Identity and Access Management (IAM) Market (Billion US$), 2015 - 2020
Figure 5-4: Global Cyber Security - Forecast for Identity and Access Management (IAM) Market (Billion US$), 2021 - 2027
Figure 5-5: Global Cyber Security - Security and Vulnerability Management (SVM) Market (Billion US$), 2015 - 2020
Figure 5-6: Global Cyber Security - Forecast for Security and Vulnerability Management (SVM) Market (Billion US$), 2021 - 2027
Figure 5-7: Global Cyber Security - End Point Security Market (Billion US$), 2015 - 2020
Figure 5-8: Global Cyber Security - Forecast for End Point Security Market (Billion US$), 2021 - 2027
Figure 5-9: Global Cyber Security - Messaging Security Market (Billion US$), 2015 - 2020
Figure 5-10: Global Cyber Security - Forecast for Messaging Security Market (Billion US$), 2021 - 2027
Figure 5-11: Global Cyber Security - Web Security Market (Billion US$), 2015 - 2020
Figure 5-12: Global Cyber Security - Forecast for Web Security Market (Billion US$), 2021 - 2027
Figure 5-13: Global Cyber Security - Others Market (Billion US$), 2015 - 2020
Figure 5-14: Global Cyber Security - Forecast for Others Market (Billion US$), 2021 - 2027
Figure 6-1: Global Cyber Security - Managed Security Services Market (Billion US$), 2015 - 2020
Figure 6-2: Global Cyber Security - Forecast for Managed Security Services Market (Billion US$), 2021 - 2027
Figure 6-3: Global Cyber Security - Integration Solutions Market (Billion US$), 2015 - 2020
Figure 6-4: Global Cyber Security - Forecast for Integration Solutions Market (Billion US$), 2021 - 2027
Figure 6-5: Global Cyber Security - Security Consulting Market (Billion US$), 2015 - 2020
Figure 6-6: Global Cyber Security - Forecast for Security Consulting Market (Billion US$), 2021 - 2027
Figure 6-7: Global Cyber Security - Education and Training Market (Billion US$), 2015 - 2020
Figure 6-8: Global Cyber Security - Forecast for Education and Training Market (Billion US$), 2021 - 2027
Figure 7-1: Global Cyber Security - Government/Defense Sector Market (Billion US$), 2015 - 2020
Figure 7-2: Global Cyber Security - Forecast for Government/Defense Sector Market (Billion US$), 2021 - 2027
Figure 7-3: Global Cyber Security - Banking, Financial services and Insurance Sector Market (Billion US$), 2015 - 2020
Figure 7-4: Global Cyber Security - Forecast for Banking, Financial services and Insurance Sector Market (Billion US$), 2021 - 2027
Figure 7-5: Global Cyber Security - Manufacturing Sector Market (Billion US$), 2015 - 2020
Figure 7-6: Global Cyber Security - Forecast for Manufacturing Sector Market (Billion US$), 2021 - 2027
Figure 7-7: Global Cyber Security - Information and Communication Technology (ICT) Sector Market (Billion US$), 2015 - 2020
Figure 7-8: Global Cyber Security - Forecast for Information and Communication Technology (ICT) Sector Market (Billion US$), 2021 - 2027
Figure 7-9: Global Cyber Security - Retail Sector Market (Billion US$), 2015 - 2020
Figure 7-10: Global Cyber Security - Forecast for Retail Sector Market (Billion US$), 2021 - 2027
Figure 7-11: Global Cyber Security - Healthcare Sector Market (Billion US$), 2015 - 2020
Figure 7-12: Global Cyber Security - Forecast for Healthcare Sector Market (Billion US$), 2021 - 2027
Figure 7-13: Global Cyber Security - Energy & Utilities Sector Market (Billion US$), 2015 - 2020
Figure 7-14: Global Cyber Security - Forecast for Energy & Utilities Sector Market (Billion US$), 2021 - 2027
Figure 7-15: Global Cyber Security - Others Sector Market (Billion US$), 2015 - 2020
Figure 7-16: Global Cyber Security - Forecast for Others Sector Market (Billion US$), 2021 - 2027
Figure 8-1: North America - Cyber Security Market (Billion US$), 2015 - 2020
Figure 8-2: North America - Forecast for Cyber Security Market (Billion US$), 2021 - 2027
Figure 8-3: Europe - Cyber Security Market (Billion US$), 2015 - 2020
Figure 8-4: Europe - Forecast for Cyber Security Market (Billion US$), 2021 - 2027
Figure 8-5: Asia Pacific - Cyber Security Market (Billion US$), 2015 - 2020
Figure 8-6: Asia Pacific - Forecast for Cyber Security Market (Billion US$), 2021 - 2027
Figure 8-7: Latin America - Cyber Security Market (Billion US$), 2015 - 2020
Figure 8-8: Latin America - Forecast for Cyber Security Market (Billion US$), 2021 - 2027
Figure 8-9: Middle East & Africa - Cyber Security Market (Billion US$), 2015 - 2020
Figure 8-10: Middle East & Africa - Forecast for Cyber Security Market (Billion US$), 2021 - 2027
Figure 9-1: Global - Cloud-Based Cyber Security Market (Billion US$), 2015 - 2020
Figure 9-2: Global - Forecast for Cloud-Based Cyber Security Market (Billion US$), 2021 - 2027
Figure 9-3: Global - On-Premises Cyber Security Market (Billion US$), 2015 - 2020
Figure 9-4: Global - Forecast for On-Premises Cyber Security Market (Billion US$), 2021 - 2027
Figure 10-1: Global - Large Enterprises Cyber Security Market (Billion US$), 2015 - 2020
Figure 10-2: Global - Forecast for Large Enterprises Cyber Security Market (Billion US$), 2021 - 2027
Figure 10-3: Global - SMEs Cyber Security Market (Billion US$), 2015 - 2020
Figure 10-4: Global - Forecast for SMEs Cyber Security Market (Billion US$), 2021 - 2027
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