Growth of Cyber Security Market Driven by Financial Service Companies, Hospitals, and Power plants

As per the findings by a newly compiled business study by IndustryARC, the global cyber security market size was around $140 billion - $150 billion in 2018, and the opportunities will be growing at a healthy CAGR of 8% during the forecast period 2019-2025. The report is titled: “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 and 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 sector and others); & By Geography - Forecast (2019-2025).”

Cyber security is one of the challenging measures which surmount with the efforts of innovative attackers. It is more efficient to defend against cyber-attack and secure confidential data. Different types of cybersecurity threats are noted as malware, ransomware, social engineering, and phishing. Attacker uses vulnerability, unintended API to direct an unintended software which depicts the exposure of danger to a system of an organization. In cyber security, eavesdropping is an interception of a communication which includes phone calls, emails, instant messages; and conversation in real time. Spoofing is used in most common phishing attacks to gain sensitive information of an organization. Additionally, tampering deals with data modification using unauthorized channels is another challenge that cyber security market vendors offer help with.

Telecommunications industry continues to be the key end user segment of the cyber security market, and opportunities are expanding at CAGR 10% over the forecast period 2019-2025. Telecommunication deals with sensitive data such as personal details and financial information of an individual. As these are the major targets of cyber-crime, there exists a necessity of anti-malware solution. 

Based on the geographical analysis provided in the IndustryARC market research report, North America region held the major share of nearly 40% among other regions in the cyber security market for the year 2018. In the U.S., government majorly rely on information technology to enhance the citizen engagement in every modern organization, consequently it is more targeted by cyber criminals. Recently the White House has released a new cybersecurity strategy to provide government agencies and law enforcement partners to respond against cybercrime and nation-state attacks with prodigious ability. Advanced cyber defense programs conducted by the governments in this region are influencing the growth of cyber security market

Evolving technologies such as cloud technology, hardware authentication and user behavior analytics are in widespread to provide counterattack for inventive attackers

Unremitting demand for cyber security from government, financial services, energy, and healthcare industries

NTT Com Security, NGC Group, Secure Link, Cisco, Symantec, Palo Alto Networks, Checkpoint, Microsoft, McAfee, Trend Micro, Sophos, Dell, SecureWorks are some of the key companies operating in the global cyber security market. These companies are mentioned as the major market share players in the cyber security market research report

Related Reports:

Cyber Security Market In Government: 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 and 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 sector and others), By Geography - Forecast(2018-2023)

Cyber Security Market In Fintech: By Domain (Payments and Transfers, Lending and Financing, Retail Banking, Financial Management, Insurance, Markets & Exchange, others); By End user (Banks, Insurance companies, other financial institution), By Geography - Forecast (2018-2023)