Global Cyber Security Markets to 2025
Published on : Monday 30-11--0001
Dublin, July, 2019 The "Cyber Security Market Size, Share & Trends Analysis Report By Component, By Security Type, By Solution, By Service, By Deployment, By Organization, By Application, And Segment Forecasts, 2019 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global cyber security market size is expected to reach USD 241.1 billion by 2025, expanding at a CAGR of 11.0% over the forecast period.
Cyber security focuses on protection of the network, programs, computers, and data from unauthorized access. In the recent past, it has become increasingly vital owing to the storage and transmission of confidential information by government and corporations. Such a vast amount of data transmitted across networks is prone to data breaches, thus raising concerns among public as well as government.
Online threats are identified as one of the highest occurring global risks. Growing technological advancements and capabilities of disrupting cyberspace are continuously reshaping the global threat landscape. Cybercrimes have increasingly affected several industries in myriad ways, thereby boosting demand for internet safety solutions. Various organizations are focusing on improving security systems, owing to the rise in online threats and malware attacks in sectors such as government, defense, and IT.
Increasing number of high-profile cases of cybercrime has augmented the demand for sophisticated and advanced security software products and services. Furthermore, such cyber hacks have increased the awareness regarding potential threats amid industries such as BFSI, healthcare, and defense. Thus, it has resulted in improved allocation of resources among organizations that help to mitigate risk.
Cloud-based platforms and smartphone devices are predominant sources of online data breach among organizations. Proliferation of threats, along with the traditional safety models, has been proven ineffective to keep pace with increasing challenges pertaining to safety. In order to overcome such challenges, organizations are rapidly adopting a robust cyber safety stance. Thus, the global market is driven by necessary measures required to counteract growing cybercrimes.
Increasing number of targeted attacks is propelling the demand for these solutions as major governments such as that in the U.S. and the European Union as well as venture capital firms are continuously investing funds into cyber safety enterprises. Furthermore, rapid advancements in technologies such as cloud, artificial intelligence, and IoT are anticipated to boost the demand for these solutions over the forecast period.