Cyber Security Market (Component - Solution, and Service; Solution - Identity & Access Management, Infrastructure Security, Governance Risk & Compliance, Unified Vulnerability Management Service Offering, Data Security & Privacy Service Offering, and Others; Deployment Model - Cloud , and On-premise; Industry Vertical - Telecom, Automotive, BFSI, Public Sector, Retail, Healthcare, IT, Energy & Utilities, Manufacturing, and Others; Enterprise Size - Large Enterprises, and SMEs): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report published by Infinium Global Research on cyber security market provides in-depth analysis of segments and sub-segments in the global as well as regional cyber security market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cyber security market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global cyber security market.

Market Insight:

The global cyber security market was valued at USD 199.75 billion in 2022 and is expected to reach USD 572.29 billion in 2030, with a CAGR of 12.15% during the forecast period 2023-2030.

The "Cyber Security Market" refers to the worldwide business environment for cybersecurity products, services, and solutions. Cybersecurity involves safeguarding computer systems, networks, devices, and data from cyber threats, such as unauthorized access, data breaches, and malicious attacks. This market comprises a wide array of offerings provided by technology firms, cybersecurity companies, and service providers, all aimed at protecting organizations, individuals, and governments from cyber risks. Cybersecurity products and services, including antivirus software, firewalls, intrusion detection systems, encryption solutions, security consulting, and incident response services. It also encompasses solutions designed to secure cloud environments, Internet of Things (IoT) devices, critical infrastructure, and personal data. Organizations across various industries, including government, healthcare, finance, and critical infrastructure, make investments in cyber security solutions to shield themselves against cyber threats and ensure the security and confidentiality of their digital assets. This market continually evolves to address new challenges and emerging cybersecurity technologies.

The global cyber security market is primarily fueled by the increasing prevalence of cyber threats. The ever-evolving and more sophisticated nature of these threats underscores the need for continuous Research and Development (R&D) efforts to create innovative defense mechanisms and maintain an advantage over cybercriminals. Additionally, the potential fallout from cyberattacks, which includes data breaches, financial setbacks, and harm to reputation, motivates organizations to invest in R&D to strengthen their cybersecurity defenses. Furthermore, the rising demand for IoT and cloud security is driving market growth. The widespread adoption of IoT devices and cloud computing requires R&D initiatives to develop security solutions specifically tailored to these environments. Nevertheless, the growth of the cyber security solutions market could be hampered by the high costs associated with effective solutions. On the flip side, the utilization of artificial intelligence, machine learning, and automation for real-time threat detection and mitigation offers significant opportunities for the global cyber security market.

North America is expected to hold the most significant market share in the upcoming forecast period, primarily due to its rich history of technological innovation. The region, especially the United States, is home to major technology giants, cyber security firms, and renowned research institutions. This concentration of technological expertise and resources fuels the continuous development of state-of-the-art cyber security solutions. Furthermore, North America boasts a thriving cybersecurity ecosystem characterized by a high density of cybersecurity startups, tech industry giants, and academic institutions. This ecosystem fosters an environment of innovation, collaboration, and the exchange of valuable cybersecurity knowledge. Notably, the United States has a strong tradition of investing in research and development (R&D) across diverse industries, including cybersecurity. Government support, private sector investments, and academic research all contribute to the ongoing advancements in cybersecurity technologies. While the Asia-Pacific (APAC) region is emerging as the fastest-growing player in the cybersecurity market. APAC's rapid economic expansion, ongoing digital transformation initiatives, heightened cybersecurity threats, government-driven cybersecurity programs, and the widespread adoption of emerging technologies are all catalysts propelling the growth of the cyber security market in this region.

Report Scope of the Cyber Security Market:

Segment Covered

The report on global cyber security market covers segments such as component, solution, deployment model, industry vertical, and enterprise size. On the basis of component, the sub-markets include solution, and service. On the basis of solution, the sub-markets include identity & access management, infrastructure security, governance risk & compliance, unified vulnerability management service offering, data security & privacy service offering, and others. On the basis of deployment model, the sub-markets include cloud, and on-premise. On the basis of industry vertical, the sub-markets include telecom, automotive, BFSI, public sector, retail, healthcare, IT, energy & utilities, manufacturing, and others. On the basis of enterprise size, the sub-markets include large enterprises, and SMEs.

Companies Profiled:

The report provides profiles of the companies in the market such as Accenture plc, Broadcom Inc, IBM Corporation, F5, Inc., L&T Technology Services Limited, FireEye, Inc., TATA Consultancy Services Limited, Infosys Limited, HCL Technologies Limited, and Others.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the cyber security market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.