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Cyber Security Market by Deployment, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2020
  • Pages: 120
  • SKU: IRTNTR41448
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The cyber security market share is expected to increase by USD 189.70 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 14.97%.

This cyber security market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cyber security market segmentation by end-user (government, BFSI, ICT, manufacturing, and others), deployment (on-premises solutions and cloud-based solutions), and geography (North America, Europe, APAC, South America, and MEA). The cyber security market report also offers information on several market vendors, including AO Kaspersky Lab, Broadcom Inc., Cisco Systems Inc., Fortinet Inc., McAfee LLC, The Boeing Co., Hewlett Packard Enterprise Co., Lockheed Martin Corp., Booz Allen Hamilton Holding Corp., and Trend Micro Inc. among others.

What will the Cyber Security Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Cyber Security Market Size for the Forecast Period and Other Important Statistics

 

Cyber Security Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increase in the use of mobile devices is notably driving the cyber security market growth, although factors such as the high cost of deployment may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cyber security industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Cyber Security Market Driver

With the increasing adoption of mobile devices, such as mobile phones, laptops, and tablets, the need for cyber security solutions is increasing. One of the major reasons for this is the increasing access to the Internet through such devices, which is increasing the chances of cyber threats. Furthermore, the use of mobile devices for personal and professional use is increasing access to critical data and information, which will increase the chance of unauthorized access in case of a stolen mobile device. With technological advances, the acceptance of mobile devices for m-commerce, bill payment, and GPS is also increasing. The confidential information accessed by mobile devices requires high-level security against hacking. Hence, there is a high demand for advanced cyber security solutions.

Key Cyber Security Market Trend

IoT enables better connectivity and resolves all critical situations. The technology is expected to be integrated with advanced features in the future, empowering it to perform better functions. IoT has enabled proper communication between systems, devices, and services. This has facilitated the transmission of a huge amount of data through networks at high speed. Owing to an increase in the use of wireless networks for interaction between people and machines, IoT is getting affected by cyber threats. Thus, organizations implementing the IoT are investing heavily in cyber security solutions to overcome their concerns about data theft.

Key Cyber Security Market Challenge

One of the major challenges for the global cyber security market is the high deployment cost of cyber security solutions. An organization must recruit IT staff for proper implementation of the cyber security software, which incurs additional costs. In addition, existing employees must be trained in the functioning of cyber security solutions. The maintenance of on-premises cyber security solutions requires in-house IT administration staff to manage and control issues, which would result in high implementation costs. Furthermore, a cyber security solution contains additional hidden costs, such as costs involved in providing knowledge, experience, and skill development of the solution to understand its functionality. The high cost is a challenge for the organization to implement in-house cyber security solutions, which is inhibiting the growth of the global cyber security market.

This cyber security market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

The growth in the global IT spending market will be driven by factors such as increasing government investments in IT infrastructure, growing demand for Internet of Things (IoT) devices, and growing demand for passive electronic components. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cyber security market during the forecast period.

Who are the Major Cyber Security Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AO Kaspersky Lab
  • Broadcom Inc.
  • Cisco Systems Inc.
  • Fortinet Inc.
  • McAfee LLC
  • The Boeing Co.
  • Hewlett Packard Enterprise Co.
  • Lockheed Martin Corp.
  • Booz Allen Hamilton Holding Corp.
  • Trend Micro Inc.

 

This statistical study of the cyber security market encompasses successful business strategies deployed by the key vendors. The cyber security market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Broadcom Inc. - In February 2019, the company completed its 5G switching portfolio, designed to enable the deployment of end-to-end networks which consolidate all radio and fixed-line traffic onto an Ethernet-based infrastructure.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The cyber security market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Cyber Security Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the cyber security market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the IT spending market includes the following core components:

  • Research and development
  • Developers or manufacturers
  • Sales and distribution
  • End-users

The report has further elucidated on other innovative approaches being followed by vendors to ensure a sustainable market presence.

 

Which are the Key Regions for Cyber Security Market?

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35% of the market’s growth will originate from North America during the forecast period. The US is a key market for cyber security in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.

The increased adoption of cyber security solutions by end-user industries, the shift of conventional IT services to internet-based IT systems, growth of end-user industries, increased government initiatives for the implementation of cyber security solutions, and the growing number of IT companies and IT start-ups will facilitate the cyber security market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The cyber security market in North America is expected to witness steady growth in 2021 due to the recent outbreak of COVID-19. This outbreak has forced governments across North America to impose lockdowns. This has changed the work scenario of end-users, especially in the ICT sector, by making their employees work from home, which is further generating the need for cyber security solutions. 

What are the Revenue-generating End-user Segments in the Cyber Security Market?

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The cyber security market share growth by the government segment will be significant during the forecast period. The global cyber security market in the government sector is expected to expand owing to the increase in security installations in developed and developing countries and the increased contribution from homeland security and the defense sectors. The need for security and confidentiality of data is expected to lead to the adoption of cyber security solutions. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the cyber security market size and actionable market insights on post COVID-19 impact on each segment.

 

Cyber Security Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 14.97%

Market growth 2021-2025

$ 189.70 billion

Market structure

Fragmented

YoY growth (%)

12.69

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 35%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AO Kaspersky Lab, Broadcom Inc., Cisco Systems Inc., Fortinet Inc., McAfee LLC, The Boeing Co., Hewlett Packard Enterprise Co., Lockheed Martin Corp., Booz Allen Hamilton Holding Corp., and Trend Micro Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Cyber Security Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive cyber security market growth during the next five years
  • Precise estimation of the cyber security market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the cyber security industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of cyber security market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Market characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Government - Market size and forecast 2020-2025
    • BFSI - Market size and forecast 2020-2025
    • ICT - Market size and forecast 2020-2025
    • Manufacturing - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Market Segmentation by Deployment

    • Market segments
    • Comparison by Deployment
    • On-premises solutions - Market size and forecast 2020-2025
    • Cloud-based solutions - Market size and forecast 2020-2025
    • Market opportunity by Deployment

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • North America - Market size and forecast 2020-2025
    • Europe - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers - Demand led growth
    • Market challenges
    • Market trends

    Vendor Landscape

    • Competitive scenario
    • Vendor landscape
    • Landscape disruption
    • Industry risks

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • AO Kaspersky Lab
    • Booz Allen Hamilton Holding Corp.
    • Broadcom Inc.
    • Cisco Systems Inc.
    • Fortinet Inc.
    • Hewlett Packard Enterprise Co.
    • Lockheed Martin Corp.
    • McAfee LLC
    • The Boeing Co.
    • Trend Micro Inc.

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
    Get your FREE sample now!
    The cyber security market growth will increase by $138.32 billion during 2019-2024.
    The cyber security market is expected to grow at a CAGR of 12.75% during 2019-2024.
    Technavio has segmented the cyber security market by end user (Government, BFSI, Manufacturing, ICT, and Others) ,deployment (On-premises solutions and Cloud-based solutions) , and geographic (North America, Europe, APAC, South America, and MEA).
    AO Kaspersky Lab, Booz Allen Hamilton Holding Corp., Broadcom Inc., Cisco Systems Inc., Fortinet Inc., Hewlett Packard Enterprise Co., Lockheed Martin Corp., McAfee LLC, The Boeing Co., Trend Micro Inc. are a few of the key vendors in the cyber security market.
    North America will register the highest growth rate of 32.42% among the other regions. Therefore, the cyber security market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the cyber security market growth are:
    The cyber security market vendors should focus on grabbing business opportunities from the government segment as it accounted for the largest market share in the base year.
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