The Cyber Security Market is growing at a CAGR of 11.9% during the forecast period 2019-2025. Telecom sector being highly prone to cyber-attack, is considered as the major end-users for cybersecurity market. Approximately, 43% of Telecom organization suffered from DNS-based malware in 2018. Thus, telecom organizations are adopting advanced cyber security solutions such as real-time security monitoring, instant cyber posture visibility, and rapid threat resolution to prevent the cyber-attack on telecom networks. Along with the telecom sector, the aerospace industry is considered to be another key end-users to cyber security market. The aerospace and defense industry are prone to cyber-attack due to its continuous exposure to non-A&D, OT-based technologies. Thus, this industry is adopting advanced cybersecurity solution to enhance protection against cybercrime. In recent time, the aerospace companies are planning to invest in upgrading the traditional system development processes to the DevSecOps procedures to enhance the protection, which will likely create new opportunities for cybersecurity market.
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Cyber Security Market Report Coverage
The report: “Cyber Security Market – Forecast (2019-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Cyber Security Market.
By Type: Cybersecurity software, Cybersecurity hardware, others.
By Domain: Network & Endpoint Security, Internet of Things/Industrial Internet of Things Security, Threat Intelligence, Mobile Security, Behavioral Detection, Cloud Security, Deception Security, Others.
By Technologies: Context Aware Behavioral Analytics, Next Generation Breach Detection, Virtual Dispersive Networking (VDN),Others.
By Industry Vertical: Aerospace, Government, Financial Services, Healthcare, Telecommunications, Automobile, Information Technology, others.
By Geography: North America, South America, Europe, APAC, RoW.
Key Takeaways
- The introduction of quantum computing in telecom sector and changing regulatory landscape in telecom sector will drive the cybersecurity market.
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- Increasing adoption of cyber security by telecom and data center, and increasing focus on R&D to provide improved solution against cyberattacks is accelerating the cyber security market.
- North Americas is the key region for cyber security market due to high level of internet usage among people in U.S. and Canada.
- The key players operating in the market are actively participating in acquisitions to strengthen their portfolio and increase the market penetration. This is anticipated to increase the market share of major players in future.
Cyber Security Market Segment Analysis - By Industry Vertical
The telecom sector is estimated to grow at a CAGR of 10% during the forecast period 2019-2025. The GSM Association (GSMA) predicted that quantum computing will be a destabilizer for the telecom sector, making Public Key Infrastructure (PKI) obsolete in the near future. Telecommunication companies are in plans of implementing quantum-safe cryptography algorithms to mitigate cyber-attacks.
In order to control cyber-attacks, the European Union (EU) has introduced many regulations such as the Network and Information Security Directive (NISD) and the General Data Protection Regulations (GDPR). NISD is yet to be implemented which requires core digital infrastructure operators and certain digital service providers to ensure that their network and information systems meet minimum standards of cybersecurity. These regulations are implemented to achieve and maintain high network security, and ensure obligatory reporting during any incidents.
Cyber Security Market Segment Analysis - By Geography
North America holds around 40% of market share in the year 2018. The market in this region is mainly driven by the high internet penetration rate. According to internet world stats, North America has 89.4% of internet penetration in 2019 and is anticipated to rise by 8%-9% by 2020. The increasing penetration of the internet in this region is expected to increase the cybercrimes.
Along with the increasing internet penetration, all the public sector organizations in the U.S. are in plans of adopting the cyber security solutions by the end of 2019. In the process of adopting the cyber security solutions organizations are planning to invest more than $5.3 billion by the end of 2019, which is double the amount invested in 2017. The increasing investment in cyber security across the public sector organizations are collectively responsible for driving the cyber security market in North America.
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