The Cyber Security Market is a rapidly expanding and critical sector, focused on safeguarding digital systems, networks, and data from cyber threats. With the rise of sophisticated attacks and increased reliance on technology, organizations across various industries are investing heavily in cybersecurity solutions. Factors such as cloud computing, IoT, and regulatory compliance drive the market's growth. The industry offers a diverse range of solutions and services, integrating AI and ML for proactive threat detection. As cyber threats persist, the demand for robust cybersecurity measures is expected to remain high, making it a pivotal component of the global digital landscape.
Key Highlights:
· In March 2022, Mandiant Inc. announced the launch of mWISE, the Mandiant Worldwide Information Security Exchange. mWISE is a dynamic, vendor-neutral cyber security event series that brings practitioners, executives, and visionaries together from around the world to discuss best practises, uncover new and emerging trends, and translate knowledge into collective action to reduce cyber threats.
· In February 2022 Check Point Software Technologies Ltd acquired Spectral, a key innovator in developer-first security tools. This acquisition will allow the company to expand its cloud solutions, Cloud Guard, by utilising developer-first security platforms and providing the most comprehensive range of cloud application security use cases.
· In November 2021, AT&T and Cisco collaborated to expand its Secure Access Service Edge (SASE) portfolio with new offerings. With software-defined wide-area networking (SD-WAN) technology and security capabilities, SASE with Cisco is a converged network and security management solution that connects and protects enterprises.
Analyst View:
The analyst view of the Cyber Security Market is optimistic, anticipating substantial growth and opportunities due to the increasing complexity of cyber threats. With organizations prioritizing digital asset protection, the market is set to benefit from expanding attack surfaces, strict regulations, and the integration of AI and ML technologies. Continuous cyberattacks and escalating consequences fuel the demand for strong cybersecurity measures, ensuring a promising and lucrative future for the sector.
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Key Market Insights from the report:
Global Cyber Security Market size accounted for US$ 200.26 billion in 2020 and is estimated to be US$ 471.49 billion by 2030 and is anticipated to register a CAGR of 9.0%. The global Cyber Security Market is segmented based on component, deployment model, enterprise size, industry vertical, solution and region.
· Based on Component, Cyber Security Market is segmented into Solution and Service.
· Based on Deployment Model, Cyber Security Market is segmented into Cloud and On-Premise.
· Based on Enterprise Size, Cyber Security Market is segmented into Large Enterprises and SMEs.
· Based on Industry Vertical, Cyber Security Market is segmented into Telecom, Automotive, BFSI, Public Sector, Retail, Healthcare, IT and Others.
· Based on Solution, Cyber Security Market is segmented into Identity & Access Management, Infrastructure Security, Governance Risk & Compliance, Unified Vulnerability Management Service Offering and Others.
· By Region, the Cyber Security Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Cyber Security Market:
The key players operating in the Cyber Security Market includes IBM (US), Cisco (US), Check Point (Israel), FireEye (US), Trend Micro (Japan), NortonLifeLock (US), Rapid7 (US), Micro Focus (UK), Microsoft (US), Amazon Web Services (US).
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