Cyber Security Market size is forecast to reach $174.09 billion in 2025, estimated to grow at a CAGR of 8% during 2020-2025. The increasing use of technology such as artificial intelligence, IoT, machine learning and so on are significantly driving the cybersecurity market. Furthermore, the increasing demand for cloud-based cybersecurity systems in order to reduce data loss are also enhancing the growth of the market. The rising demand for network and endpoint security, mobile security, behavioral detection are fueling the growth of the market during forecast period.
In 2019, the Cyber Security market was dominated by North America owing to the increasing use of prevalent technology which has raised the risk of cyber threat leading to the need for cybersecurity solutions.
The rising demand for cloud-based cybersecurity solutions in order to store and secure data during data loss or data breaches has driven the growth of the market.
The rapid advancement of artificial intelligence leading to the introduction of technologies such as machine learning and deep learning which will enhance the growth of the market.
The rising security threats due to the increasing use of Blockchain systems and IoT threats are making difficult to detect cyber-attacks which is hampering the market growth.
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Geography – Segment Analysis
In 2019, North America dominated the Cyber Security market with a share of more than 40%, followed by Europe and APAC. The growing use of technology and data has led to the rise of most vulnerable cyber threats and crimes which is leading to the growth of this market in this region. Also, the financial stability in this region has allowed organization to invest in cybersecurity for providing security of data and software. These developments are propelling the growth of cybersecurity market in North America.
Drivers – Cyber Security Market
Rising importance Artificial Intelligence (AI)
Increasing need for Cybersecurity in Aerospace
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Cyber Security market. In 2019, the market of Cyber Security has been consolidated by the major players – AWS, Check Point Software Technologies, NTT Security, Cisco Systems, CyberArk, FireEye, IBM Corporation, Oracle, Microsoft and Juniper Networks.
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