Cyber security industry accrued ROI of approximately around US$ 139 billion in 2021 and is set to gain income of almost US$ 210 billion in 2028- ZMR

SUITE N202, NEW YORK, UNITED STATES, September 15, 2022 /EINPresswire.com/ -- This Cyber Security Market Research Report, study provides an assessment and analysis of the Cyber Security Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

Cyber security Market is estimated to register highest gains of nearly 10.1% in time period of 2022 to 2028. Moreover, Cyber security market is anticipated to gain traction over forthcoming years subject to rise in cyber-attacks with a view of damaging or stealing key information along with stalling business processes. With rise in cybercrimes, cyber terrorism, hacking, and online frauds, deployment of cyber security tools has become need of an hour for every small & big firm. Increase in infiltration of network infrastructure targets and surge in malware attacks as well as cyber wars have resulted in humungous demand for strong cyber security. This has the driven expansthe ion of Cyber security market. Strict data protection law enforcement by various firms and evolution of disruptive online systems prone to cyber-attacks has prompted need for cyber security, thereby boosting market growth. Key players have strongly influenced market growth and are projected to follow the same trend even in upcoming years. We have profiled them in our report and they are Booz Allen Hamilton Holding Corporation, McAfee Corp., Fortinet, Inc., Symantec Corporation, Zscaler, Inc., IBM Corporation, Microsoft Corporation, Sophos Ltd., Palo Alto Networks, Inc., Northrop Grumman Corporation, Broadcom, Inc., and Cisco Systems, Inc.

The global Cyber Security Market accrued earnings worth approximately 139(USD Billion) in 2021 and is predicted to gain revenue of about 210(USD Billion) by 2028, is set to record a CAGR of nearly 10.1% over the period from 2022 to 2028

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Cloud Security Segment To Record Highest CAGR In 2022-2028

Growth of cloud security segment in ensuing years is owing to rising acceptance of cloud-based security solutions by firms. Moreover, data leaks related to cloud services will further prompt segmental growth. Apart from this, increase in malware infiltration risks and data breach issues linked with use of cloud services will proliferate size of cloud security segment over years ahead. Additionally, massive requirement of increasing filtering of web traffic accessing media contents will proliferate expansion of cloud security segment in ensuing years.

Identity And Access Management (IAM) Segment To Dominate Solutions Landscape By 2028

Rapid expansion of identity and access management (IAM) segment over ensuing years is due to humungous need of determining employee activities. Moreover, immense requirement of tracking & automating many of end-user related security activities has contributed substantially towards acceptance of IAM solutions in big & small organizations. Reportedly, a prominent increase in proportion of inside security threats & necessity of complying with security legislations & measures such as password management will drive segmental surge.

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Government Sector To Contribute Largest Share To Cyber security Market In 2022-2028

Segmental surge over forecasting time interval is due to massive cyber threats & cyber-attacks on government organizations & public utilities. Apart from this, new technologies, supply chain, and encrypted tools used by government agencies are also susceptible to cyber-attacks and hence has resulted in large-scale use of Cyber security systems in government organizations.

Asia Pacific Cyber Security Market To Expand Rapidly In 2022-2028

Rapid surge in growth of Cyber security market in Asia Pacific over coming years is likely to be due to massive usage of Cyber security systems in energy, finance, telecom, and technology sectors. In addition to this, rise in spending on security services has opened new vistas of growth for Cyber security industry in Asia Pacific. Presence of key participants in countries such as Japan, Taiwan, China, South Korea, and Singapore has resulted in massive sales of Cyber security solutions to western world, thereby augmenting earnings of Cyber security market in region.

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The global Cyber Security Market is segmented as follows:

By Security Type

Network Security
Cloud Security
Wireless Security
Others

By Solution

Identity And Access Management (IAM)
Encryption
Risk And Compliance Management
Data Loss Prevention
Antivirus & Antimalware
Firewall
Others

By Vertical

Aerospace
Government
Financial Services
Telecommunication
Healthcare
Others

Cyber Security Market: Growth Dynamics

Rise in cybercrimes over last few years has led to massive financial losses for business, thereby boosting demand for cyber security systems. Additionally, rise in use of e-commerce tools and breakthroughs in disruptive technologies including AI and connected things has resulted in surge of cyber-crimes that can take undue advantage of weak cyber-security. Hence, need for strong cyber-security due to growing cyber security concerns will drive market trends. In addition to this, rise in need for cloud security has resulted in massive necessity of cyber security technologies, thereby boosting cyber security market trends.

Furthermore, rapid expansion of security services in healthcare, manufacturing, and government sectors will proliferate size of cyber security market. In addition to this, key players are focusing on introducing robust security solutions for safeguarding industrial functions along with combating cyber terrorism. This will promulgate scope of cyber security market growth. Citing an instance, in December 2020, IBM Corporation introduced IBM security X-Force for determining cyber-attacks. Apart from this, the firm introduced phishing campaign across nearly six countries.

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Varsharani Lavate
Zion Market Research
+ +1 855-465-4651
varsha.l@marketresearchstore.com
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