In the post-COVID-19 scenario, the global cybersecurity market size is projected to grow from USD 217. 9 Billion in 2021 to USD 345. 4 Billion by 2026, recording a Compound Annual Growth Rate (CAGR) of 9.
New York, July 05, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cybersecurity Market with Covid-19 Impact Analysis by Component, Software, Security Type, Deployment Mode, Organization Size, Vertical And Region - Global Forecast to 2026" - https://www.reportlinker.com/p05009188/?utm_source=GNW
7% from 2021 to 2026. The market’s growth can be attributed to the increasing awareness and rising investments in cybersecurity infrastructure across global organizations operating across verticals.
By deployment, the cloud segment is estimated to hold a larger market size than the on-premises segment in 2021.
Unlike traditional on-premises deployment mode, cloud-based cybersecurity solutions provide with a cost effective approach for the enterprises across various industry verticals to enhance security.Pricing is one of the major differentiating factors in the adoption of cloud-based security solution over on-premises security solutions.
Growing virtualization across industries and adoption of cloud computing is promoting the demand for cloud-based cybersecurity solutions in various countries.Moreover, cloud-based deployment of cybersecurity solutions can help organizations to reduce costs associated with expensive hardware equipment for storage, power, cooling as well as lowers the IT personnel required to monitor the network further eliminating the IT maintenance costs.
Cloud deployments are suitable for small and medium businesses that usually have a limited budget allocated for securing critical assets from cyberattacks.
The Asia Pacific market is expected to register the highest growth rate during the forecast period.
APAC comprises of few largest economies in the world such as China, India, Japan, Singapore, and Malaysia.The increasing economic importance of these countries has prevailed vast amount of data transmitted across networks that are prone to security breaches.
The threat landscape is driven by necessary measures required to aid support to several industry verticals at an alarming rate.Increased number of alerts and threats combined with comparatively shortage in staffs is resulting in 50% of threats going undetected.
Cybersecurity software solutions is expected to surge the efficiency of security solutions by preventing low-level incidents, considering each user as a hostile network. Owing to the high digital connectivity, contrasted with the low cybersecurity awareness, growing cross-border data transfers, and weak regulations, Asia Pacific region is anticipated to boost the demand for cybersecurity solution over the forecast period.
• By Company Type: Tier 1 – 53%, Tier 2 – 29%, and Tier 3 – 18%
• By Designation: C-level – 39%, D-level – 27%, and Others – 34%
• By Region: North America – 41%, Europe – 27%, Asia Pacific – 23%, MEA – 6%, Latin America – 3%
Major vendors, namely, IBM (US), Cisco (US), Check Point (Israel), FireEye (US), Trend Micro (Japan), NortonLifeLock (US), Rapid7 (US), Micro Focus (UK), Microsoft (US), Amazon Web Services (US), Oracle (US), Fortinet (US), Palo Alto Networks (US), Accenture (Ireland), McAfee (US), RSA Security (US), Forcepoint (US), Sophos PLC (UK), Imperva (US), Proofpoint (US), Juniper Network (US), Splunk (US), SonicWall (US), CyberArk (US), F-secure (Finland), Qualys (US), F5 (US), AlgoSec (US), SentinelOne (US), DataVisor (US), RevBits (US), Wi-Jungle (India), BluVector (US), Aristi Labs (India) and Securden (US). The study includes an in-depth competitive analysis of these key market players along with their profiles, recent developments, and key market strategies.
The market study covers the Cybersecurity market size across segments.It aims at estimating the market size and the growth potential of this market across different segments by component, by software, by security type, deployment type, organization size, vertical, and region.
The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Cybersecurity market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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