Cybersecurity Global Market Report 2024

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Cybersecurity Global Market Report 2024 – By Solution (Infrastructure Protection, Network Security, Endpoint Security, Data Security, Application Security, Cloud Security, Other Solutions), By Enterprise Size (Small And Medium Enterprise, Large Enterprise), By Deployment Type (Cloud, On Premises), By End-User (BFSI, IT And Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel And Transportation, Energy And Utilities, Other End-Users) – Market Size, Trends, And Global Forecast 2024-2033

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Cybersecurity Market Definition And Segments

Cybersecurity is the protection of Internet-connected systems against cyber threats such as hardware, software, and data.

The main solutions of cybersecurity are network security, cloud application security, end-point security, secure web gateway, internet security, and others. Network security is a set of technologies that protects the usability and integrity of a company's infrastructure by preventing a wide range of potential threats from entering or spreading within a network. The software is deployed through cloud and on-premises mode by small and medium enterprises, and large enterprises. The various end users include BFSI, IT and telecommunications, retail, healthcare, government, manufacturing, travel and transportation, energy, and utilities, among others.

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

The cybersecurity market size has grown rapidly in recent years. It will grow from $223.7 billion in 2023 to $248.65 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to the increasing number of cyber-attacks, strong economic growth in emerging markets, the emergence of start-ups, and the COVID-19 pandemic.

The cybersecurity market size is expected to see rapid growth in the next few years. It will grow to $393.72 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to increasing internet penetration, the rising number of e-commerce platforms, the Internet of Things (IoT), and the need for authentication techniques. Major trends in the forecast period include leveraging, artificial intelligence (AI), machine learning, and blockchain technologies for cyber defense, focusing on cloud-based cybersecurity strategies, offering app-based 2fa used to help organizations become safer and less vulnerable to cyber-attacks, taking up ITIL/ISO certifications to align software services with business requirements and focusing on automation and integration to improve efficiency.

Elevated Cyber Threats Drive Escalating Demand For Cybersecurity Solutions

The rising scale of cyber threats is generating higher demand for cybersecurity solutions. Cyberattacks on individuals, companies, and governmental organizations are increasing and resulting in huge financial losses. For example, according to Infosecurity Magazine, a Canadian online magazine serving the information security community, 108.9 million internet user accounts were breached in the third quarter of 2022, with a 70% increase over the previous quarter. Therefore, rising spending on cybersecurity solutions attributed to the increasing threat of cyberattacks is projected to propel the revenues for the cybersecurity market during the forecast period.

The Increasing Number Of Internet Users And Its Impact On The Cybersecurity Market

The growing number of internet users is expected to propel the growth of the cybersecurity market going forward. Internet users describe those with access to the Internet at home using a computer or a mobile device. Cybersecurity is important for all internet users, as it can help protect their personal information, financial data, and online accounts. For instance, in November 2021, according to the International Telecommunication Union, a Switzerland-based specialized agency responsible for information and communication technologies, the number of users increased by 782 million in 2021, accounting for 4.9 billion people, or 63% of the world's population. Therefore, the growing number of internet users drives the growth of the cybersecurity market.

Major companies operating in the cybersecurity market report are Palo Alto Networks Inc., Cisco Systems Inc., Dell Technologies Inc., McAfee Inc., Charles River Laboratories, Syneos Health, Sartorius AG, Precision for Medicine Inc., Novartis, Eppendorf Asia Pacific Sdn. Bhd., Emmessar Biotech & Nutrition Ltd., Vcanbio Cell & Gene Engineering Corp., Ltd., Ke Rui Gene, Absea Biotechnology Ltd., CStone Pharm-B, Daiichi Sankyo, bitBiome, Taisho Pharmaceutical, AGC Biologics, Hamamatsu Pharma Research, Artios Pharma, AstraZeneca, Bio Products Laboratory (BPL), Cambridge Bioscience, Shire Pharmaceuticals Ltd., BTG Ltd., eXmoor Pharma, 4D Pharma PLC, Touchlight Genetics, Ophidia Medical Technologies, ATAI Life Sciences, Phaseform, Evotec, Sanity Group, Primmbiotech,, Vaccitech, Biolat, Pharmidea, Asla-Biotech, Genera, Anima Lab, Silvanols, OU TBD-Biodiscovery, Qvalitas Arstikeskus AS, Concise Systems OU, GPE Globalpharma OU, Belarusian National Biotechnology Corporation, Innothera, Olainfarm, Pharmaidea, Amgen Inc., Gilead Sciences, Celgene Corporation, Biogen Inc., Vertex Pharmaceuticals, Illumina, Inc., Regeneron Pharmaceuticals Inc., Alexion Pharmaceuticals, Hemostemix Inc., Resverlogix Corporation, Zenith Epigenetics Corp., Bayer, AMEGA Biotech, Pierre Fabre, Pfizer, Quantificare, Apsen Farmaceutica, BioMarin Pharmaceutical, DK Diagnostics, Biosonda Biotechnology, Laboratorios Legrand, Biomerics, Julphar Pharmaceuticals, Medpharma, Pharmax, Neopharma, City Breeze Technical Services, CinnaGen, BioSun Pharmed, AryoGen Pharmed, 4Clinics, 54gene, Amoun, Aspen Pharmacare, BBI Solutions, BioTech Africa, ClinArt MENA, Crux Pharmaceuticals, Genesis Pharmaceuticals, Massive Genomics, Mayne Pharma, Sanofi Genzyme, Teleflex Medical, The Micron Group Broadcom,

Rampant Software Piracy Poses A Substantial Threat To The Cybersecurity Market

The increasing use of unlicensed or pirated software is a significant threat to the cybersecurity market. Pirate software refers to the unauthorized copy of the software, which is a replica of the original software. Internet-based piracy of software and solutions is an emerging issue for the industry. According to the BSA global software survey published, despite the 2% drop-in pirated software installation rates, unlicensed software was being installed at alarming rates, accounting for 37% of software installed on personal computers. Organizations purchasing unlicensed software packages and a computer with pirated software installed can impede the growth of the bottom line and induce unprecedented security risk. Thus, this high rate of software piracy is hindering the growth of the cybersecurity market.

Government Cybersecurity Investments Pave The Way For Industry Growth

Increasing government investments in cybersecurity solutions is a major trend shaping the growth of the cybersecurity industry. For instance, in September 2022, the Department of Homeland Security (DHS), a US federal executive department responsible for public security launched a $1 billion investment to fund its first-ever cyber grant program customized especially for state, local, and territorial governments across the country. This will aid governments in addressing cybersecurity risks such as identifying key vulnerabilities, eliminating threats, and bolstering critical infrastructure. Thus, increasing investments by governments globally are likely to create large avenues for expansion for the players operating in the cybersecurity market over the forthcoming years.

Innovation In The Cybersecurity Industry

Major companies operating in the cybersecurity market are focusing on developing innovative technologies, such as generative AI, to provide reliable services to customers. Generative AI is artificial intelligence (AI) that can create new content, such as text, images, videos, audio, and 3D models. For instance, in August 2023, Tenable Inc., a US-based cybersecurity company, launched ExposureAI. It is uniquely designed to integrate Tenable's exposure management platform with large language model (LLM) capabilities. Security teams can detect and reduce cyber risk more rapidly and efficiently by using ExposureAI's generative AI to transform Tenable's vast threat data into more actionable intelligence. ExposureAI gives security teams insights into their total cyber risk exposure based on artificial intelligence.

Knowbe4 Embarks On New Growth Chapter With Acquisition By Vista Equity Partners

In October 2022, KnowBe4 agreed to be acquired by Vista Equity Partners, an American investment firm for $4.6 billion. The acquisition enables KnowBe4 to have additional resources and support from Vista for its next phase of development. KnowBe4 is a US-based cybersecurity company.

Asia-Pacific was the largest region in the cybersecurity market in 2023. 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

The countries covered in the cybersecurity market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain

The cybersecurity market includes revenues earned by entities by offering software for protecting the network, computers, mobile devices, hardware, electronic systems, and data from digital or malicious attacks. It is also known as electronic information security and information technology security. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The cybersecurity market research report is one of a series of new reports from The Business Research Company that provides cybersecurity market statistics, including cybersecurity industry global market size, regional shares, competitors with a cybersecurity market share, detailed cybersecurity market segments, market trends and opportunities, and any further data you may need to thrive in the cybersecurity industry. This cybersecurity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Cybersecurity Market Report Scope

Report Attribute	Details
Market Size Value In 2024	$248.65 billion
Revenue Forecast In 2033	$393.72 billion
Growth Rate	CAGR of 12.2% from 2024 to 2033
Base Year For Estimation	2023
Actual Estimates/Historical Data	2018-2023
Forecast Period	2024 - 2028 - 2033
Market Representation	Revenue in USD Billion and CAGR from 2024 to 2033
Segments Covered	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
Regional Scope	Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Country Scope	Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Key Companies Profiled	Palo Alto Networks Inc; Cisco Systems Inc; Dell Technologies Inc; McAfee Inc; Charles River Laboratories; Syneos Health; Sartorius AG; Precision for Medicine Inc.; Novartis; Eppendorf Asia Pacific Sdn. Bhd.; Emmessar Biotech & Nutrition Ltd; Vcanbio Cell & Gene Engineering Corp., Ltd; Ke Rui Gene; Absea Biotechnology Ltd; CStone Pharm-B; Daiichi Sankyo; bitBiome; Taisho Pharmaceutical; AGC Biologics; Hamamatsu Pharma Research; Artios Pharma; AstraZeneca; Bio Products Laboratory (BPL); Cambridge Bioscience; Shire Pharmaceuticals Ltd; BTG Ltd; eXmoor Pharma; 4D Pharma PLC; Touchlight Genetics; Ophidia Medical Technologies; ATAI Life Sciences; Phaseform; Evotec; Sanity Group; Primmbiotech;; Vaccitech; Biolat; Pharmidea; Asla-Biotech; Genera; Anima Lab; Silvanols; OU TBD-Biodiscovery; Qvalitas Arstikeskus AS; Concise Systems OU; GPE Globalpharma OU; Belarusian National Biotechnology Corporation; Innothera; Olainfarm; Pharmaidea; Amgen Inc.; Gilead Sciences; Celgene Corporation; Biogen Inc.; Vertex Pharmaceuticals; Illumina, Inc.; Regeneron Pharmaceuticals Inc.; Alexion Pharmaceuticals; Hemostemix Inc.; Resverlogix Corporation; Zenith Epigenetics Corp.; Bayer; AMEGA Biotech; Pierre Fabre; Pfizer; Quantificare; Apsen Farmaceutica; BioMarin Pharmaceutical; DK Diagnostics; Biosonda Biotechnology; Laboratorios Legrand; Biomerics; Julphar Pharmaceuticals; Medpharma; Pharmax; Neopharma; City Breeze Technical Services; CinnaGen; BioSun Pharmed; AryoGen Pharmed; 4Clinics; 54gene; Amoun; Aspen Pharmacare; BBI Solutions; BioTech Africa; ClinArt MENA; Crux Pharmaceuticals; Genesis Pharmaceuticals; Massive Genomics; Mayne Pharma; Sanofi Genzyme; Teleflex Medical; The Micron Group Broadcom;
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Table Of Contents

1. Executive Summary

2. Cybersecurity Global Market Characteristics

3. Cybersecurity Global Market Trends And Strategies

4. Cybersecurity Global Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market

4.2. Ukraine-Russia War Impact On The Market

4.3. COVID-19 Impact On The Market

5. Global Cybersecurity Global Market Size and Growth

5.1. Global Cybersecurity Global Market Drivers and Restraints

5.1.1. Drivers Of The Market

5.1.2. Restraints Of The Market

5.2. Global Cybersecurity Global Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)

5.3. Global Cybersecurity Global Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Cybersecurity Global Market Segmentation

6.1. Global Cybersecurity Global Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Network Security

Cloud Application Security

End-point Security

Secure Web Gateway

Internet Security

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Automotive Cybersecurity Global Market Report 2024 – By Security Type (Network Security, Application Security, Endpoint Security, Wireless Security, Cloud Security), By Form (In-Vehicle, External Cloud Service), By Vehicle (Passenger Car, Commercial Vehicle), By Application (Telematics System, Body Control and Comfort System, Infotainment System, Powertrain System, Other Applications) – Market Size, Trends, And Global Forecast 2024-2033

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Cloud Security Global Market Report 2024 – By Security Type (Application Security, Database Security, Endpoint Security, Network Security, Web and Email Security), By Service Model (Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS)), By Deployment (Public, Private, Hybrid), By End User (BFSI, Healthcare, IT and Telecom, Other End Users) – Market Size, Trends, And Global Forecast 2024-2033

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Cloud Security Posture Management Global Market Report 2024 – By Component (Solution, Services), By Organization Size (Large Enterprises, Small And Medium Enterprises), By Cloud Model (Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS)), By Vertical (BFSI, Healthcare, Retail, Trade, IT, Telecommunication, Public Sector) – Market Size, Trends, And Global Forecast 2024-2033

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IoT Security Global Market Report 2024 – By Type (Network Security, Endpoint Security, Application Security, Cloud Security, Other Types), By Component (Solution, Services), By Application (Healthcare & Life Sciences, Infrastructure & Cities, Industrial System & Sensors, Smart Home & Consumer, Transport & Urban Mobility) – Market Size, Trends, And Global Forecast 2024-2033

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Cloud Orchestration Global Market Report 2024 – By Service Type (Cloud Service Automation, Training, Consulting, And Integration, Support And Maintenance), By Deployment Mode (Private, Public, Hybrid), By Organization Size (Small And Medium Enterprises (SMEs), Large Enterprises), By End-User (Healthcare And Life Sciences, Transportation And Logistics, Government And Defense, IT And Telecom, Retail, Manufacturing, Other End Users) – Market Size, Trends, And Global Forecast 2024-2033

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Frequently Asked Questions

What is the definition of the cybersecurity market?

Cybersecurity is the protection of Internet-connected systems against cyber threats such as hardware, software, and data. For further insights on the cybersecurity market, request a sample here

How will the cybersecurity market drivers and restraints affect the cybersecurity market dynamics? What forces will shape the cybersecurity industry going forward?

The cybersecurity market growth is aided by rising scale of cyber threats. However, some cybersecurity market restraints include increasing use of unlicensed or pirated software. For further insights on the cybersecurity market, request a sample here

What is the forecast market size or the forecast market value of the cybersecurity market?

The cybersecurity market is expected to reach $338.84 billion in 2027 at a rate of 10.9%. For further insights on the cybersecurity market, request a sample here

How is the cybersecurity market segmented?

The global cybersecurity market is segmented as
1) By Solution: Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Internet Security, Other Solutions
2) By Enterprise Size: Small & Medium Enterprise, Large Enterprise
3) By Deployment Type: Cloud, On Premises
4) By End-Use: BFSI, IT & Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel and Transportation, Energy and Utilities, Other End-Uses
For further insights on the cybersecurity market, request a sample here

Which region has the largest share of the cybersecurity market? What are the largest region's market size and growth rate?

Asia-Pacific was the largest region in the cybersecurity market in 2022. For detailed insights on the largest region's market size and growth rate, request a sample here.

Who are the major players in the cybersecurity market?

Key competitors in the cybersecurity market are, AVG Technologies NV, Check Point Software Technologies, Cisco Systems, CyberArk, F5 Networks, FireEye, Forcepoint, Fortinet, F-Secure, IBM Corporation, Imperva, Juniper Networks, McAfee, Micro Focus, Microsoft, Oracle, Palo Alto Networks, Proofpoint, Qualys, Rapid7, RSA Security, Sophos, Splunk, Symantec, Trend Micro. For further insights on the cybersecurity market, request a sample here.

What are the key trends in the cybersecurity market?

Major trends influencing the cybersecurity market include increasing government investments in cybersecurity solutions. For further insights on the cybersecurity market, request a sample here.

What are the major opportunities in the cybersecurity market? What are the strategies for the cybersecurity market?

For detailed insights on the major opportunities and strategies in the cybersecurity market, request a sample here.

How does the cybersecurity market relate to the overall economy and other similar markets?

For detailed insights on cybersecurity market's relation to the overall economy and other similar markets, request a sample here.

What are the latest mergers and acquisitions in the cybersecurity industry?

For detailed insights on the mergers and acquisitions in the cybersecurity industry, request a sample here.

What are the key dynamics influencing the cybersecurity market growth? SWOT analysis of the cybersecurity market.

For detailed insights on the key dynamics influencing the cybersecurity market growth and SWOT analysis of the cybersecurity industry, request a sample here.