How Has The Cybersecurity Market Size Evolved Historically?
The cybersecurity market has seen considerable growth due to a variety of factors.
• The expansion of the cybersecurity market has been swift in the past few years. Its size is projected to increase from $243.15 billion in 2024 to $267.51 billion in 2025, with a compound annual growth rate (CAGR) of 10.0%.
Factors contributing to the growth during the historical period include the surge in cyber-attacks, robust economic progress in emergent markets, the introduction of startups, and the impact of the COVID-19 pandemic.
What Is The Projected Growth Of The Cybersecurity Market?
The cybersecurity market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the cybersecurity market is anticipated to witness swift expansion. The market size is projected to reach $434.76 billion in 2029, growing at a compound annual growth rate of 12.9%.
Factors contributing to this growth during the forecast period include an increase in internet usage, a surge in the number of e-commerce platforms, the proliferation of the Internet of Things (IoT), and the demand for secure authentication methods. The forecast period is expected to see key trends such as the application of technologies like artificial intelligence (AI), machine learning, and blockchain for cyber defense. There will also be a focus on cloud-based strategies for cybersecurity, the use of application-based two-factor authentication (2fa) to enhance organizational cyber safety, the pursuit of ITIL/ISO certifications to align software services with business needs, and an emphasis on automation and integration for enhanced efficiency.
Which Factors Are Boosting Growth In The Cybersecurity Market?
The escalating degree of cyber threats is leading to a growing need for cybersecurity solutions. There is an upward trend in cyberattacks targeting individuals, businesses, and government entities, culminating in significant financial damages. For instance, Infosecurity Magazine, an online Canadian publication catering to the information security community, reports that in the third quarter of 2022, 108.9 million internet user accounts experienced breaches, a surge of 70% from the prior quarter. Hence, the increased expenditure towards cybersecurity measures due to the intensifying threat of cyberattacks is expected to drive the revenue growth for the cybersecurity market during the forecast period.
What Are The Principal Market Segments In The Global Cybersecurity Healthcare Industry?
The cybersecurity market covered in this report is segmented –
1) By Solution: Infrastructure Protection, Network Security, Endpoint Security, Data Security, Application Security, Cloud Security, Other Solutions
2) By Enterprise Size: Small And Medium Enterprise, Large Enterprise
3) By Deployment Type: Cloud, On Premises
4) By End-User: BFSI, IT And Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel And Transportation, Energy And Utilities, Other End-Users
Subsegments:
1) By Infrastructure Protection: Physical Security Solutions, Perimeter Security Systems, Security Information and Event Management (SIEM)
2) By Network Security: Firewalls, Intrusion Detection and Prevention Systems (IDPS), Virtual Private Networks (VPNs)
3) By Endpoint Security: Antivirus and Antimalware Solutions, Endpoint Detection and Response (EDR), Mobile Device Management (MDM)
4) By Data Security: Data Loss Prevention (DLP), Encryption Solutions, Data Masking and Tokenization
5) By Application Security: Web Application Firewalls (WAF), Runtime Application Self-Protection (RASP), Secure Software Development Lifecycle (SDLC) Tools
6) By Cloud Security: Cloud Access Security Brokers (CASB), Cloud Security Posture Management (CSPM), Secure Web Gateways (SWG)
7) By Other Solutions: Identity and Access Management (IAM), Threat Intelligence Solutions, Security Awareness Training
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Which Emerging Market Trends Are Altering The Cybersecurity Market?
A significant trend driving the expansion of the cybersecurity sector is the surge in governmental investments in cybersecurity solutions. To illustrate, the Department of Homeland Security (DHS), which is a US federal executive department dedicated to public safety, announced a $1 billion investment in September 2022 to establish its inaugural cyber grant program specifically designed for state, local, and territorial governments throughout the US. This initiative is poised to assist these governments in tackling cybersecurity risks via key vulnerability identification, threat neutralization, and strengthening of crucial infrastructure. Therefore, the anticipated escalation in global government investments promises to generate vast growth opportunities for entities engaged in the cybersecurity market in the years ahead.
Who Are the Key Players in the Cybersecurity Market?
Major companies operating in the cybersecurity market include:
• Palo Alto Networks
• CrowdStrike
• Fortinet
• Check Point Software Technologies
• Cisco Systems
• IBM Security
• FireEye
• McAfee
• Trend Micro
• Symantec
• Darktrace
• Okta
• Tenable
• Rapid7
• Proofpoint
• CyberArk
• SentinelOne
• RSA Security
• Splunk
• Zscaler
• Bitdefender
• Sophos
• F5 Networks
• Qualys
• Avast
• Kaspersky Lab
• Veracode
• ESET
• Imperva
• Mimecast
What are the Regional Insights into the Cybersecurity Market?
Asia-Pacific was the largest region in the cybersecurity market in 2024. North America was the second largest region in the global cybersecurity market. The regions covered in the cybersecurity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
