Published on 29 Jun 2019:

Meticulous Research® – leading global market research company is researching on cybersecurity market titled “Cybersecurity Market by Product (Solutions, Services), End-use Industry (Aerospace and Defense, Government, Banking, Financial Services, and Insurance (BFSI), IT and Telecom, Healthcare, Retail, Manufacturing, Energy and Utilities, Others), Security Type (Network, Content, Endpoint, Application, Cloud security), Organization Size (SMEs, Large Enterprises), and Region - Global Forecast to 2025”.

Increasing Number of Cybercrimes Spur the Demand for Cybersecurity Services

Cybercrime is one of the greatest threats to every company in the world because of the increasing reliance of the people on the internet. Majority of the users are easy target for cybercriminals due to lack of awareness and netiquette. Over the last few years, high profile cases of cyber hacks have increased significantly. For instance, the Anti-Phishing Working Group (APWG) recorded more than 1.2 million cyber-attacks in 2016. Moreover, there were more than 4000 ransomware attacks every day in 2016 (FBI). Therefore, such huge and continuously rising number of cyber-crimes that people, businesses, and governments face on a daily basis are driving the demand for cybersecurity services.

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Network Security Segment Dominates the Global Cybersecurity Market in 2018

Based on security type, global cybersecurity market is mainly segmented into network security, content security, endpoint security, application security, and cloud security, among others. Owing to rise in the number of security breaches targeting networks where hackers try to gain access to sensitive data, network security is gaining the largest share of the global cybersecurity market in 2018. While, the application security segment is projected to grow at a significant pace in the next few years due to the increasing number of malwares, APTs, and phishing attacks.

BFSI Industry Vertical Dominates the Global Cybersecurity Market in 2018

BSFI commanded the largest share of the global cybersecurity market in 2018. The major share of this segment is mainly attributed to the increase in need for providing sealed security and digital privacy in financial institutions. Moreover, rise in the adoption of smartphones, internet banking, and cloud is further driving the growth of the cybersecurity market in this sector.

North America Dominates the Market, While Asia-Pacific leads the Growth

North America commanded the largest share of the global cybersecurity market in 2018, followed by Europe and Asia-pacific. The major share of this region is mainly attributed to the factors such as the growing need among organizations to reduce the misuse of the internet, improve employees’ productivity, and address attacks on their IT infrastructures. While, Asia-Pacific region is projected to grow at a significant pace in the next few years, mainly due to rapid economic growth and regulatory reforms & economic stability.

Key Players

The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 5 years (2015-2019). The key players operating in the global cybersecurity are Symantec Corporation (U.S.), BAE Systems Inc. (U.K.), Check Point Software Technologies Ltd. (Israel), FireEye, Inc. (U.S.), Cisco Systems, Inc. (U.S.), EMC Corporation (U.S.), Trend Micro Incorporated (Japan), Rapid7 (U.S.), Sophos Ltd. (U.K.), McAfee, LLC (U.S.), Micro Focus (U.K.), Microsoft Corporation (U.S.), Splunk Inc. (U.S.), F5 Networks, Inc. (U.S.), Proofpoint, Inc. (U.S.), RSA Security LLC. (U.S.), Amazon Web Services, Inc (U.S.), Juniper Networks, Inc. (U.S.), Fortinet, Inc. (U.S.), Oracle (U.S.), CyberArk Software Ltd. (U.S.), Forcepoint LLC (U.S.), F-Secure (Finland), Qualys, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.), IBM (U.S.), and Imperva, Inc. (U.S.).

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