According to UnivDatos report global cybersecurity market , the market is expected to witness robust growth during the forecast period (2021-2027). This is mainly due to the rising number of e-commerce platforms coupled with the integration of technologies such as the internet of things, machine learning, and the cloud.

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Global cybersecurity market is expected to register a CAGR of around 11% over the period of 2021-2027. Cybersecurity is the technique of protecting internet-connected systems such as computers, servers, mobile devices, electronic systems, networks, and data from cyber-attacks is known as cybersecurity. Cybersecurity’s main objective is to protect critical data. These cyberattacks are usually aimed at accessing, changing, or destroying sensitive information, extorting money from users, or interrupting business processes. The demand for cybersecurity is increasing at propelling rate over the years and is expected to witness influential growth during the forecasted period as well. Factors that are positively impacting the growth of this market are increasing reliance on technology and the integration of technologies such as the internet of things, machine learning, and the cloud. Cyberattack is now an international concern that hacks the system, and other security attacks could endanger the global economy. Therefore, it is essential to have an excellent cybersecurity strategy to protect sensitive information from high-profile security breaches. Hence, the market is expected to witness robust growth during the forecast period.

Based on deployment, the cybersecurity market is segmented into cloud and on-premises. The on-premises deployment held a considerable market share in 2020 and is expected to grow at a robust growth rate during the forecast period. This is because several large organizations prefer to have complete control of the solutions and on-premises deployment provides complete customization and upgradation options to the enterprises. On-premises deployment reduces dependency on third-party organizations providing more protection from cyber-attacks

Based on industry, the cybersecurity market is classified into banking and financial services, healthcare, information and communication technology, government, and others. The government sector held a substantial share in the cybersecurity market in 2020. Because governments and defense organizations are under a constant security threat from individual or state-sponsored cyber-attacks. Hence, they are investing heavily in strengthening their cyber security infrastructure.

North America to witness extensive growth

North America cybersecurity market is expected to witness a substantial CAGR during the forecast period. The growth of this market can be attributed to the rising number of high-security breaches in the region. North America has been a prime target for cybercriminals due to the presence of a high number of large, small, and medium enterprises. The growing investments by end-users and high demand for enterprise security are influencing the cybersecurity market positively. The rising number of e-commerce platforms, the availability, and the adoption of new technologies are further contributing to the growth of the North American market.

According to UnivDatos, the key players with a considerable market share in the global cybersecurity market are Cisco Systems Inc., Check Point Software Technologies Ltd., Palo Alto Networks Inc., Fortinet Inc., International Business Machines Corporation, Sophos Ltd., Oracle Corporation, McAfee LLC, RSA Security LLC, NortonLifeLock Inc. along with partnerships have been undertaken by these players to boost their presence in different regions.

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Global Cybersecurity Market provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.    

Market Segmentations:

By Type (Solutions and Services)

By Deployment (Cloud and On-premises)

By Organization size (Large Enterprises, On-premises)

By Industry (Banking and Financial Services, Healthcare, Information and Communication Technology, Government, and Others)

By Region (North America, Europe, Asia-Pacific, Rest of the World)

By Company (Cisco Systems Inc., Check Point Software Technologies Ltd., Palo Alto Networks Inc., Fortinet Inc., International Business Machines Corporation, Sophos Ltd., Oracle Corporation, McAfee LLC, RSA Security LLC, NortonLifeLock Inc.)

Key questions answered in the study:

What are the current and future trends of the global cybersecurity industry?

How the industry has been evolving in terms of type, deployment, organization, and industry?

How the competition has been shaping across the countries followed by their comparative factorial indexing?

What are the key growth drivers and challenges for the global cybersecurity industry?

What is the customer orientation, purchase behavior, and expectations from the global cybersecurity suppliers across various region and countries?

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