The CAGR of Cyber Security Market is Estimated to Grow at 13.5% Over The Forecast Years (2019 – 2027), as Small and Medium Enterprises are Increasingly Taking Dynamic Steps to Combat Cybercrime: Says Absolute Markets Insights.

Small and medium enterprises represent a large proportion of a nation’s business activity. In North America, small businesses make up more than 97% of total businesses. Such enterprises are particularly at risk, as their security systems are viewed as easily accessible and penetrable by hackers due to a perceived general lack of awareness and resources. They are also targeted by cyber criminals as these enterprises act as potential gateways through which critical infrastructure information can be accessed. Ransomware is the most significant threat to such enterprises as the average financial loss caused by a ransomware attack can potentially cripple a small business. In 2018, 67% of global SMEs reported a cyber-attack and 58% experienced data breech.

The frequency of cyber-attacks on these enterprises have grown manifold over the past five years. Small and medium scale enterprises are increasingly facing the same cybersecurity risks as larger companies. The owners of these companies are increasingly growing aware of cyber threats, and are taking proactive security steps to successfully implement robust cybersecurity solutions. In 2016, only 38% of such enterprises reported regularly upgrading their security solutions whereas in 2018, the percentage rose to 51%. This increase in percentage depicts a clear growth in the adoption and awareness of cyber security solutions amongst SMEs. This trend is predicted to continue in the coming years owing to technologically advanced means of attacks carried out by cybercriminals, which in turn will drive the demand of cyber security market.

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“The demand for affordable managed security services is expected to increase drastically in 2019 due to a rise in attacks on small and medium sized businesses as a result of growing instances of extortion by criminal organizations. This surge in demand for security solutions by SMEs is expected to positively impact the growth of the cyber security market.”

This research study aims at providing the reader with quantitative and qualitative analysis of the global cyber security market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The supply side analysis covers the prominent players and their regional and global presence and key business strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

The primary market participants in cyber security market include Accenture, Alert Logic, Inc., Armor Defense Inc., AT&T, Atos SE, Barracuda Networks, Inc., Booz Allen Hamilton Inc., Capgemini, CenturyLink, DXC Technology Company, GeekTek IT Services Inc., HCL Technologies Limited, IBM Corp., Kraft Technology Group LLC, LAN Infotech, Online Business Systems, Optiv Security Inc., Orange Business Services, SecureWorks, Inc., Sequoia Cyber Solutions, Symantec Corporation, Tata Consultancy Services Limited, TechWerxe, Trustwave Holdings, Inc., Verizon and Wipro Limited amongst several others.

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Cyber Security Market:

By Deployment

  • On-Premise
  • Cloud-based

 

By Organization Size

  • Small and Medium Enterprise
  • Large Enterprise

 

By Application

  • Network Security
  • Application Security
  • End Point Security
  • Cloud Security
  • Others (Mobile Security, Data Security, etc.)

 

By Solution Type

  • Identity and Access Management (IAM)
  • Risk and Compliance Management
  • Encryption Data Loss Prevention
  • Unified Threat Management
  • Firewall
  • Others (Web Filtering, Intrusion Detection System etc.)

 

By Service Type

  • Professional Service
  • Managed Service

 

By Vertical

  • BFSI (Banking, Financial Services and Insurance)
  • Government
  • IT and Telecom
  • Aerospace and Defense
  • Others (Education, Retail, etc.)

 

By Geography

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
  • Denmark
  • Finland
  • Iceland
  • Sweden
  • Norway
  • Benelux Union
  • Belgium
  • The Netherlands
  • Luxembourg
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
  • Indonesia
  • Thailand
  • Malaysia
  • Singapore
  • Rest of Southeast Asia
  • Rest of Asia Pacific

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

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