Cyber Security Market to Reach $258.99 Billion by 2025: Allied Market Research

Cyber Security Market to Reach $258.99 Billion by 2025: Allied Market Research

PR Newswire

PORTLAND, Oregon, March 3, 2020

Emergence of IoT & BYOD, surge in malware and phishing threats among enterprises, and rise in demand for cloud-based solutions propel the growth of the global cyber security market

PORTLAND, Oregon, March 3, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Cyber Security Market By Component (Solutions and Services), Solution/Offerings (Identity and Access Management, Infrastructure Security, Governance, Risk, & Compliance, Unified vulnerability management service offering, and Data security and Privacy service offering), Deployment type (Cloud and On-Premises), User type (Large enterprises and Small & Medium enterprises), And Industry Verticals (Aerospace and Defense, BFSI, Public sector, Retail, Healthcare, IT and Telecom, Energy and Utilities, Manufacturing, and Others): Global Opportunity Analysis And Industry Forecast, 2018–2025." As per the report, the global cyber security market generated $104.60 billion in 2017, and is estimated to reach $258.99 billion by 2025, witnessing a CAGR of 11.9% from 2018 to 2025.

BYOD & IoT enabled solutions to drive the global cyber security market

Emergence of IoT & BYOD, surge in malware and phishing threats among enterprises, and rise in demand for cloud-based solutions propel the growth of the global cyber security market. However, complexities regarding device security and tight budgets restrain the market growth. Contrarily, rise in requirements regarding strong authentication methods and rise of the antivirus industry would offer new opportunities in coming years.

Based on component, the solutions segment held more than two-thirds of the total share, and is estimated to maintain its lead position in terms of revenue throughout the forecast period. This is due to rise in requirements regarding monitoring of external and in-house attacks in large and small & medium enterprises. Contrarily, the services segment is estimated to register the highest CAGR of 13.8% from 2018 to 2025, owing to increase in adoption of digital technologies from various industries and requirement for data privacy.

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On the basis of deployment type, the on-premise segment accounted for the highest share in 2017, holding nearly three-fifths of the total share. This is attributed to large enterprises adopting cyber security solutions and increase in requirements regarding securing critical data from cyberattacks. On the other hand, the cloud segment is estimated to register the highest growth rate, registering a CAGR of 13.9% from 2018 to 2025, owing to requirement of cloud-based security along with reduced maintenance and investment costs.

Based on region, North America held nearly one-third of the total share in 2017 and is estimated to maintain its leadership status on the basis of revenue during the forecast period. This is attributed to rise in dependency upon social media applications and penetration of internet. However, Asia-Pacific is estimated to grow at the highest CAGR of 13.6% from 2018 to 2025, owing to ease in availability of smartphones in nations such as China and India that led to surge in adoption of cyber security measures.

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Leading market players discussed in the report are Accenture, Capgemini, Cognizant, HCL Technologies Limited, IBM Corporation, Symantec Corporation, Tata Consultancy Services, Wipro Limited, and others. They have adopted various strategies including expansions, mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.

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About Allied Market Research

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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