Cyber Security Market To Be Worth USD $202 Billion by 2021

Rise in security breaches targeting enterprises driving growth of cyber security market

Dublin (Aug. 11, 2016) – Research and Markets has announced the addition of the Cyber Security Market – Global Forecast to 2021 report to their offering.

The report estimates the global cyber security market to grow from USD 122.45 billion in 2016 to USD 202.36 billion by 2021, at a CAGR of 10.6%. The cyber security market is growing rapidly because of the increase in adoption of cyber security solutions, due to the increase in security breaches targeting enterprises.

Network security is estimated to have the largest market size in 2016 because of the need for stringent compliance and regulatory requirements. The growth in the network security is associated with the rise in security breaches targeting enterprise networks, where hackers try to gain access to sensitive data. Furthermore, application security will grow at the highest CAGR during the forecast period, due to the rise in Internet of Things (IoT) and Bring Your Own Device (BYOD) trend.

Cyber security solutions have been deployed across various industry verticals, including aerospace & defense, government & public utilities, Banking, Financial Services, and Insurance (BFSI), IT & telecom, healthcare, retail, manufacturing, and others. The BFSI vertical is expected to witness the highest CAGR during the forecast period because of the increasing adoption of web and mobile applications, which are prone to advanced cyber-attacks.

APAC includes emerging economies, such as India and China, which are rapidly deploying cyber security solutions. This is mainly due to the digitization of businesses and adoption of cloud services by small, medium, and large enterprises in the region.

Companies Mentioned:

  • Centrify Corporation
  • Cisco Systems, Inc.
  • Fireeye, Inc.
  • Hewlett-Packard Enterprise (HPE)
  • Intel Security
  • International Business Machines (IBM) Corporation
  • Logrhythm, Inc.
  • Pradeo Security Systems
  • Rapid7, Inc.
  • Sophos Ltd.
  • Symantec Corporation
  • Trend Micro, Inc

Key Topics Covered:

  • Research Methodology
  • Executive Summary
  • Premium Insights
  • Market Overview
  • Industry Trends
  • Cyber Security Market Analysis, By Component
  • Cyber Security Market Analysis, By Solution
  • Cyber Security Market Analysis, By Service
  • Cyber Security Market Analysis, By Security Type
  • Cyber Security Market Analysis, By Deployment Mode
  • Cyber Security Market Analysis, By Organization Size
  • Cyber Security Market Analysis, By Vertical
  • Geographic Analysis
  • Competitive Landscape
  • Company Profiles
  • Key Innovators

For more information or to purchase the report or download a free sample, click here.

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SOURCE: Research and Markets