The global cyber security market is growing significantly at 12.3% CAGR owing to the rising awareness and increase in cybersecurity infrastructure investment globally. Moreover, rapid increase in cybersecurity incidents and regulations, adoption of M2M/ IoT Connections, rising demand for cloud-based cybersecurity systems to reduce data loss, increasing demand for network and endpoint security, and information technology security and mobile security will propel the growth of cyber security market.

The COVID-19 crisis has led to fthe need for safeguarding business data and prevent loss from cyber-attacks, there is a need for strong authentication system owing to the remote working technology, resulting in the growth of cyber security market. Furthermore, the robust adoption in healthcare , manufacturing and government sector has increasing tremendously, thereby promptoig the growth of the cyber security market.

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Aerospace and defense sector is anticipated to grow significantly owing to the existence of big data and increased digitalization in all aspects of armed forces. Moreover, the computers and networks for ground and air-borne operations require strong security infrastructure and the rising adoption of M2M technology in aerospace domain and to fight counter cyber terrorism will fuel the growth of the segment.

North America dominates the cyber security market owing to the presence of major security vendors, increased spending on security solutions by SMEs and Large enterprises, and stringent data privacy and security standards will fuel the growth of cyber security market in the region.

The prominent players in the cyber security industry include Hewlett Packard Enterprise, McAfee Inc., IBM Corporation, Symantec Corporation, Trend Micro, Inc., Check Point Software Technologies Ltd., Palo Alto Networks, Inc., Cisco Systems, Inc., Fortinet, Inc., Sophos Ltd., F-Secure, Kaspersky Lab, Webroot, Inc., and LogRhythm, Inc.

Source: VynZ Research