Cyber Security Market Advancement, Target Audience, Growth Prospects and Segmentation | Coronavirus Effects
Market Highlights
The
escalated level of cyber-attacks and threats globally have made it essential
for appropriate cybersecurity measures to be initiated to counter such threats.
Market reports connected with the IT and security industry have been made
available by Market Research Future which generates reports on other business
verticals that outlines the current market scenarios. The market is set to
achieve a remarkable level of revenues while expanding at a significant CAGR in
the duration of the forecast period.
As
networks and data become increasingly connected its essential that the
information be protected from hackers who can capitalize on the weakness or
shortcomings in the networks. Increasing level of operations observed in
telecommunications, operations, and management in banking and healthcare are
the most vulnerable to these cyber-attacks and thus are one the major end users
for the cyber security market. Novel innovations and breakthroughs in
cybersecurity are expected to impel the growth of the market in the upcoming
forecast period.
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Segmentation:
The
segmentation of the cyber security market has been carried out on the basis of
solutions, regions, services and by application verticals. The segmentation on
the basis of solutions comprises of network security, endpoint security,
content security, application security, industrial control system security and
cloud security. On the basis of services, the market is segmented into
consulting services, design services, training services, risk assessment
services, and others. Based on application verticals, the cyber security market
has been segmented into BFSI, telecommunication, aerospace and defense,
manufacturing, healthcare, and others. The segmented regions in the market are
Asia Pacific, Middle East, Africa, North America and Europe.
Detailed
Regional Analysis
The
regional analysis of the cyber security market covers regions such as Asia
Pacific, Middle East, Africa, North America and Europe. The North America is
heading the market of cyber security globally. The nations such as the US and Canada
are well established in the field of technology and also some of the major
players who supply cyber security options are located in the North American
region. The European region is responsible for the next biggest market share in
the cyber security market. The European region has a significant growth in the
market which is growing at a high CAGR and is currently growing at an
impressive rate. The primary reason behind this is that a few of the countries
in Europe have an excellent command over the technology and most of the
companies in the European region update their cyber security model on a regular
basis. The Asia Pacific and MEA are the fastest rising markets for cyber
security.
Competitive
Analysis
The
competitors in the market are attempting to establish various leaderships that
will enable them to capture a more significant share of the market. The
employment of effective strategy execution techniques is anticipated to bear
positively on the future growth of the market. The analysis of the market
reveals that it is poised for a high growth rate in the forthcoming years.
Product differentiation has created a favorable product differentiation
scenario that is complementing the market’s growth. Furthermore, the vertical
integrations and product strategies of the market is increasing the prospects
for the market players. Improved accessibility to diverse resources and
capabilities is expected to impel the growth of the market in the coming
forecast period.
The
crucial competitors in the cyber security market are McAfee Corporation,
Fortinet Inc, Cisco Corporation, Trend Micro Inc, Cassidian Cybersecurity
Company, Fireeye Inc, Computer Science Corporation, Booz Allen Hamilton
Corporation, Kaspersky Lab, Symantec Corporation among others.
Industry
Updates:
Nov
2018 The
Commonwealth Government’s Joint Cyber Security Centre (JCSC) has now opened in
Adelaide. The JCSC will help to protect Australians from malicious cyber
incidents better. The new facility expands the footprint of the government’s
$47 million national Joint Cyber Security Program and Australia’s Cyber
Security Strategy. It is part of Australia’s lead cybersecurity agency, the
Australian Signals Directorate, and its Australian Cyber Security Centre
(ACSC).
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Global
Cyber Security Market Information, by Solutions (Network, Endpoint, Content, Application),
by Service (Design, Consulting, Training), Application Verticals
(Telecommunication, BFSI, Manufacturing), by Region (Europe, Americas, APAC
& MEA) - Forecast to 2027
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