The latest report published by IMARC Group, titled “Cybersecurity Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on cybersecurity market growth. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global cybersecurity market size reached US$ 247.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 453.8 Billion by 2028, exhibiting a growth rate (CAGR) of 9.6% during 2023-2028.
Cybersecurity is a critical domain dedicated to safeguarding digital systems, networks, and data from malicious attacks, unauthorized access, and potential threats. In an increasingly interconnected world, where information and transactions are predominantly conducted online, cybersecurity plays an essential role in maintaining the confidentiality, integrity, and availability of sensitive information. With the proliferation of cyber threats such as viruses, malware, phishing scams, and data breaches, cybersecurity services have become paramount for individuals, businesses, and governments alike. These services encompass a range of practices, including encryption, firewalls, intrusion detection systems, and regular security assessments, all aimed at preventing, detecting, and mitigating cyber risks.
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Market Trends:
The cybersecurity market is driven by escalating cyber threats, increased digitalization across industries, and growing awareness of the critical importance of safeguarding sensitive information. Businesses, governments, and individuals alike are recognizing the imperative of robust cybersecurity measures to protect valuable assets and preserve trust in digital interactions. The rapid pace of technological advancement, including the proliferation of cloud computing, Internet of Things (IoT) devices, and interconnected systems, has expanded the attack surface for malicious actors. Moreover, regulatory compliance requirements and international data protection standards are pushing organizations to implement stringent cybersecurity protocols. The increasing awareness of cybersecurity risks has also fueled the demand for skilled cybersecurity professionals and training programs, further stimulating the market's expansion.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Accenture PLC
- Broadcom Inc
- Capgemini Service SAS
- Cisco Systems Inc.
- Cognizant Technology Solutions Corporation
- HCL Technologies Ltd.
- Infosys Limited
- International Business Machines Corporation (IBM)
- Lockheed Martin Corporation
- Palo Alto Networks, Inc.
- Tata Consultancy Services Limited
- Tech Mahindra Limited
- Trend Micro Incorporated
- Wipro Limited
Cybersecurity Market Segmentation:
Our report has categorized the market based on region, component, development type, user type, and industry vertical.
Breakup by Component:
- Solutions
- Identity and Access Management (IAM)
- Infrastructure Security
- Governance, Risk and Compliance
- Unified Vulnerability Management Service Offering
- Data Security and Privacy Service Offering
- Others
- Services
- Professional Services
- Managed Services
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by User Type:
- Large Enterprises
- Small and Medium Enterprises
Breakup by Industry Vertical:
- IT and Telecom
- Retail
- BFSI
- Healthcare
- Defense/Government
- Manufacturing
- Energy
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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