What Has Been the Progress and Growth of the Digital Security Control Market in Recent Years?
The digital security control market has seen considerable growth due to a variety of factors.
• The scale of the digital security control market has seen swift expansion in the recent past. Its size is projected to surge from $17.4 billion in 2024 to $19.68 billion in 2025, recording a compound annual growth rate (CAGR) of 13.1%.
The noteworthy expansion during the historical phase can be associated with enhanced dependence on digital technologies, an upsurge in the occurrences and complexity of cyber-attacks, surging application of IoT gadgets, the requirement for information security, worldwide economic globalization, and an uptick in digital transactions.
How Does the Forecast Look for the Digital Security Control Market?
The digital security control market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the market size of digital security control is projected to undergo swift expansion. It is predicted to reach $31.89 billion by 2029, increasing at an impressive compound annual growth rate (CAGR) of 12.8%.
This anticipated growth over the forecast period can be ascribed to the ongoing increase in dependency on digital technologies, the rise in cyber threats and attacks, advancements in encryption and authentication techniques, the high level of integration of security solutions with mobile and cloud platforms, and a focus on regulations for information security and privacy. The forecast period is expected to witness major trends such as multi-factor authentication, advanced mobile security and telecommunication, integrated security solutions, and fresh investments in the digital security industry.
What Are The Leading Drivers Of Growth In The Digital Security Control Market?
The surge in cyber threats is projected to fuel the expansion of the digital security control market. Cyber threats encompass potential hazards or risks to data systems, computing networks, and digital infrastructure emanating from harmful actors or occurrences in the digital space. The escalation in cyber threats is attributed to several factors, including the speedy proliferation of digital technologies, the growing complexity of cybercriminal techniques, and the financial profit from cyber-attacks. Digital security measures are crucial for effectively managing cyber threats, they preserve digital assets, identify harmful actions, and respond swiftly and competently to security breaches. For example, data from Check Point Research (CPR), a cybersecurity firm based in Israel, in July 2024 revealed a global rise in cyberattacks, demonstrating a 30% increase in weekly attacks on corporate networks in the Q2 2024 compared to Q2 2023 and a 25% boost compared to Q1 2024. On a weekly basis, businesses are typically subject to 1,636 attacks. This surge in cyber threats will indeed stimulate the growth of the digital security controls market.
How Are The Segments Defined Within The Global Digital Security Control Market?
The digital security control market covered in this report is segmented –
1) By Service: Two-Factor Authentication, Three-Factor Authentication, Four-Factor Authentication
2) By Hardware: Smart Card, Sim Card (Subscriber Identity Module), Biometric Technologies, Security Token
3) By Software: Anti-Phishing, Authentication, Network Surveillance, Security Management, Web Technologies
4) By Application: Mobile Security And Telecommunication, Finance And Banking, Healthcare, Commercial
Subsegments:
1) By Two-Factor Authentication (2FA): SMS-Based Authentication, Email-Based Authentication, Time-Based One-Time Passwords (TOTP), Hardware Tokens
2) By Three-Factor Authentication (3FA): Biometric Verification, Knowledge-Based Authentication, Location-Based Authentication
3) By Four-Factor Authentication (4FA): Behavioral Biometrics, Device Recognition, IP Address Verification, Additional Knowledge Factors
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What Trends Are Reshaping The Future Of The Digital Security Control Market?
Leading firms in the digital security control sector are channeling their effort into creating technologically sophisticated security systems, such as a combined door lock card. The aim is to provide customers with superior, advanced solutions and enhanced security. An integrated door lock is a system exclusively engineered to work flawlessly with other elements or systems, like smart home automation and access control. For instance, in February 2022, Tuchware - an electronic firm based in India, unveiled its smart lock vendor, the XS series. This product is equipped with hotel management software, hotel-XS. Standout features include a unified door lock card management interface other than other hotel administration capabilities such as managing bookings, personnel, inventory, and billing. The lock was exclusively constructed with a single body of stainless steel 304 grade rather than mild steel or aluminium alloys, thus positioning it as the most resilient option available in the Indian market.
Who Are the Key Players In The Digital Security Control Market?
Major companies operating in the digital security control market are:
• Microsoft Corporation
• Cisco Systems Inc.
• 3M Company
• NEC Corporation
• Palo Alto Networks
• Gemalto NV
• Morpho S.A.S
• McAfee Corporation
• Trend Micro Inc
• CrowdStrike
• HID Global Corporation
• Bundesdruckerei GmbH
• RSA Security LLC
• Rapid7
• CyberArk
• Fireeye Inc
• Vasco Data Security International Inc
• Safenet Inc.
• Watchdata Technologies
• Secura Key
• CardLogix Corporation
• Oberthur Technologies
• IntelCav
• Alioth LLC
What Is The Most Dominant Region In The Digital Security Control Market?
North America was the largest region in the digital security control market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital security control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
