Internet Security Market by Solution and Geography - Forecast and Analysis 2020-2024

  • Published: Sep 2020
  • Pages: 120
  • SKU: IRTNTR45194
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The internet security market size has the potential to grow by USD 20.41 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by solution (products and services) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AO Kaspersky Lab, Cisco Systems Inc., Fortinet Inc., Hewlett Packard Enterprise Co., Intel Corp., International Business Machines Corp., NortonLifeLock Inc., Palo Alto Networks Inc., Sophos Ltd., and Tata Consultancy Services Ltd.

Market Overview

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Market Competitive Analysis

The Internet security market is fragmented. The vendors are incorporating threat intelligence, analytics, profiling and anomaly detection, as well as network activity monitoring features in their security solutions and services owing to the increasing instances of data theft and cyberattacks. Vendors in the market provide specialized user and entity behavior analytics features in their security solutions in order to support early breach detection. AO Kaspersky Lab, Cisco Systems Inc., and Fortinet Inc. are some of the major market participants. Although the increasing number of advanced and sophisticated threats will offer immense growth opportunities, the threats from open-source network security solutions will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this Internet security market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this Internet security market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • AO Kaspersky Lab
  • Cisco Systems Inc.
  • Fortinet Inc.
  • Hewlett Packard Enterprise Co.
  • Intel Corp.
  • International Business Machines Corp.
  • NortonLifeLock Inc.
  • Palo Alto Networks Inc.
  • Sophos Ltd.
  • Tata Consultancy Services Ltd.

Internet Security Market: Segmentation by Geography

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APAC will offer several growth opportunities to market vendors during the forecast period. The growing adoption of mobile devices, such as smartphones, tablets, and laptops and the rapid adoption of the IoT in countries like China, India, Thailand, and Singapore will significantly drive Internet security market growth in this region over the forecast period.

36% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for Internet security in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Internet Security Market: Segmentation by Solution

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The revenue of the products segment is likely to increase due to an increase in sales of hardware security components. The year-over-year (YoY) growth rate of hardware security components is expected to accelerate owing to the rapid adoption of hardware components providing integrated security, including firewall and intrusion detection and prevention (IDP), for ensuring the security of network infrastructures. There has also been a spike in phishing attacks, malicious spams, and ransomware attacks as attackers are using COVID-19 as an opportunity to imitate brands, thereby misleading employees and customers. Therefore, the abovementioned factors have increased the demand for Internet security products, which will drive market growth during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the Internet security market size.

Internet Security Market: Key Drivers and Trends

Market research analysts at Technavio predict that the global Internet security market will grow steadily at a CAGR of over 10% during the forecast period. This market research analysis identifies the increasing number of advanced and sophisticated threats as one of the primary factors for the growth of the Internet security market size. With the rapidly changing IT infrastructure, attackers have discovered novel ways of stealing valuable information and disrupting businesses by breaching the perimeter of security walls and cyber-attacks are becoming increasingly advanced and sophisticated targeting people, networks, and devices. Mobile devices are becoming the most preferred device for web browsing, e-mailing, making online purchases, accessing social media, and downloading apps. They have become potential targets of cyber-attacks because they are increasingly being used by enterprises and consumers to perform personal and business tasks. Therefore, the increase in the number of cyber-attacks increases the level of awareness among organizations about the different security risks, which is compelling them to adopt security information and event management (SIEM) solutions.

The convergence of technologies is one of the latest Internet security trends that will gain traction in the market in the coming years. The increasing need to protect networks from advanced cyber threats has induced companies around the globe to adopt multiple security solutions such as web security, e-mail security, data loss prevention, endpoint security, and network security solutions. To overcome the challenges in the complexity of the IT infrastructure, companies will opt for converged security solutions, a combination of multiple security solutions.

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Internet Security Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive Internet security market growth during the next five years
  • Precise estimation of the Internet security market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the Internet security industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of Internet security market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

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 Solution

  • Market segments
  • Comparison by Solution
  • Products - Market size and forecast 2019-2024
  • Services - Market size and forecast 2019-2024
  • Market opportunity by Solution

Customer Landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • AO Kaspersky Lab
  • Cisco Systems Inc.
  • Fortinet Inc.
  • Hewlett Packard Enterprise Co.
  • Intel Corp.
  • International Business Machines Corp.
  • NortonLifeLock Inc.
  • Palo Alto Networks Inc.
  • Sophos Ltd.
  • Tata Consultancy Services Ltd.

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
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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
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TechnavioREPORT WRITING

Qualitative

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

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The internet security market growth will increase by $20408.63 million during 2019-2024.
The internet security market is expected to grow at a CAGR of 10.23% during 2019-2024.
Technavio has segmented the internet security market by solution (Products and Services) and geographic (North America, APAC, Europe, South America, and MEA).
AO Kaspersky Lab, Cisco Systems Inc., Fortinet Inc., Hewlett Packard Enterprise Co., Intel Corp., International Business Machines Corp., NortonLifeLock Inc., Palo Alto Networks Inc., Sophos Ltd., Tata Consultancy Services Ltd. are a few of the key vendors in the internet security market.
APAC will register the highest growth rate of 35.86% among the other regions. Therefore, the internet security market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the internet security market growth are:
  • Rapid adoption of BYOD policy
  • Growing popularity of managed security service providers (MSSP)
The internet security market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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