Enjoy complimentary customisation on priority with our Enterprise License!
The internet security market size is forecast to increase by USD 18.63 billion at a CAGR of 8.53% between 2023 and 2028. The market is experiencing significant growth, driven by several key trends and challenges. One major factor fueling market expansion is the rapid adoption of Bring Your Own Device (BYOD) policies in businesses, leading to an increased need for the best and most comprehensive security solutions. Another trend is the growing popularity of Managed Security Service Providers (MSSPs), as organizations seek to outsource their security operations to experts. The cost of deploying internet security systems is also a significant factor, as businesses strive to balance the need for effective protection against budget constraints. These trends and challenges create a dynamic market landscape, requiring innovative solutions and strategic partnerships to meet the evolving needs of businesses and consumers alike.
The Market is a dynamic and evolving industry that focuses on protecting digital technologies, e-commerce platforms, and critical infrastructure from cyberattacks. The market encompasses various solutions such as network security, machine learning, artificial intelligence, and advanced security solutions. Digital transactions and remote work have increased the risk of digital attacks, including data breaches, phishing, malware, and hacking. Enterprise security solutions are in high demand, particularly in sectors like healthcare, where sensitive data is a priority. Cloud technologies and virtual private network have revolutionized the way businesses operate, leading to an increased focus on cloud security. The Internet of Things (IoT) has introduced new vulnerabilities, managed security service necessitating advanced security solutions. Data protection is a major concern, with machine learning and artificial intelligence being used to detect and prevent cyberattacks. Certified Ethical Hacking and other cybersecurity certifications are essential for professionals in the field. Antivirus, antimalware, intrusion detection, and security information are fundamental security solutions that continue to be relevant. In conclusion, the Market is a vital industry that addresses the ever-evolving threat landscape of digital technologies such as wireless router. It offers a range of solutions to protect against digital attacks, including network security solutions, machine learning, artificial intelligence, and advanced security solutions. The market is expected to grow as businesses and individuals continue to rely on digital technologies for transactions, communication, and data storage.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The products segment is estimated to witness significant growth during the forecast period. The Market is witnessing significant growth due to the increasing prevalence of cybercrime, cyber espionage, and IoT vulnerabilities. SMEs are increasingly investing in advanced security solutions to protect their digital systems and sensitive information from ransomware attacks and social engineering.
Get a glance at the market share of various regions Download the PDF Sample
The products segment was the largest segment and valued at USD 19.37 billion in 2018. Application security is a key focus area, with the adoption of security infrastructure such as software defined perimeters, single sign on, and multi-factor authentication becoming more widespread. Zero trust implementation is gaining traction as a cybersecurity model, with its ability to provide continuous verification of identities and access based on the principle of least privilege. Hence, such factors are fuelling the growth of this segment during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market is a critical domain in today's digital world, with the increasing reliance on digital technologies and e-commerce platforms. Cybersecurity has become a top priority for businesses and organizations, as digital attacks through hardware security components continue to pose significant risks to enterprise security solutions. Healthcare institutions, in particular, face immense pressure to protect customer healthcare records from data breaches. Network security solutions, including machine learning, smart healthcare and artificial intelligence, are increasingly being adopted to mitigate threats. Hence, such factors are driving the market in APAC during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rapid adoption of bring your own device (BYOD) policy is notably driving market growth. In today's business landscape, the adoption of bring your own device (BYOD) policies is increasingly becoming a necessity for organizations to maintain a mobile workforce and stay competitive.
Moreover, the elimination of hardware device costs and the convenience of using a single device for both personal and professional use are driving the preference for this policy among employees. BYOD policies encompass various devices such as smartphones, laptops, and tablets, which are now capable of running mobile applications equivalent to popular desktop programs like Microsoft Excel, Microsoft PowerPoint, and Microsoft Word. Thus, such factors are driving the growth of the market during the forecast period.
Growing popularity of managed security service providers (MSSP) is the key trend in the market. Managed security services have gained significant traction in the business world as organizations seek to alleviate the challenges they face in ensuring information security. In 2023, the market witnessed a notable rise in the adoption of managed security services by companies to address cyber threats such as cyber espionage, ransomware attacks, social engineering, IoT vulnerabilities, and cybercrime.
Moreover, these challenges include resource constraints, lack of skilled IT professionals, and the need to comply with regulatory compliance standards and data protection laws. Managed security service providers (MSSPs) offer comprehensive security solutions, including security event monitoring, content security, application security, and infrastructure security. Thus, such trends will shape the growth of the market during the forecast period.
Cost of deployment of internet security system is the major challenge that affects the growth of the market. The market is witnessing significant growth due to the increasing number of cyber threats, such as cyber espionage and cybercrime, targeting digital systems. SMEs are particularly vulnerable to these threats, making it essential for them to invest in strong security infrastructure.
Moreover, application security, including single sign on and multi factor authentication, zero trust implementation, and security information and event management, are crucial components of modern cybersecurity models. Automation plays a vital role in enhancing security, with security solutions offering threat detection and incident response capabilities. Regulatory compliance standards and data protection laws necessitate the adoption of cybersecurity certifications, such as certified ethical hacking, to ensure adherence to industry best practices. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AO Kaspersky Lab: The company offers Kaspersky which is AI driven protection against hackers and the latest viruses, ransomware and spyware.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is a dynamic and evolving industry that focuses on safeguarding e-commerce platforms, enterprise security solutions, healthcare, and other digital technologies from digital attacks. With the increasing use of cloud technologies, Big data, and IoT, the market for internet security projects has gained significant traction. Cybersecurity is a critical concern for large enterprises, as data breaches and cyber threats pose a significant risk to digital privacy systems and customer healthcare records. Network security solutions, endpoint security, and cloud application security are essential components of a comprehensive cybersecurity strategy. Machine learning and artificial intelligence are advanced security solutions that help identify and mitigate cyberattacks, including hacking, phishing, malware, and other malicious activities. Zero trust architecture is another important approach that focuses on continuous verification of user identity and device security.
Cloud security services, managed security services, and cybersecurity professionals are in high demand as organizations seek to protect their digital transactions and sensitive data from cyber threats. The market for internet security is expected to grow significantly in the coming years, driven by the increasing use of digital technologies and the need for specialized expertise to address security gaps. Threat protection is a key priority for businesses, and internet security projects are essential for ensuring the security of critical infrastructure and maintaining customer trust. Cloud-based security services and advanced network security are crucial for protecting against cyber threats and ensuring data protection in the age of remote work and digital transactions.
Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.53% |
Market growth 2024-2028 |
USD 18.63 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.68 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AO Kaspersky Lab, Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., HCL Technologies Ltd., Hewlett Packard Enterprise Co, Infineon Technologies AG, Intel Corp., International Business Machines Corp., Microsoft Corp., NortonLifeLock Inc., Nippon Telegraph And Telephone Corp., Palo Alto Networks Inc., Penta Security Systems Inc., SecureLink Inc., Sophos Ltd., Tata Consultancy Services Ltd., Thales Group, Trend Micro Inc., and Wipro Ltd. |
Market dynamics |
Parent market analysis, market forecast, market report, 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 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. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Solution
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.