Cybersecurity Market – Global Forecast to 2023: Innovation Spotlight on Splunk, Cyberbit, Carbon Black & Balbix

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DUBLIN, Sept. 28, 2018 /PRNewswire/ —

The “Cybersecurity Market by Solution, Service, Security Type, Deployment Mode, Organization Size, Industry Vertical, and Region – Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The global cybersecurity market size to grow from USD 152.71 billion in 2018 to USD 248.26 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period.

Increase in the frequency and sophistication of cyber threats, stringent data protection regulations for information security, and rise in the number of supply chain-based attacks exploiting the software supply chain are expected to drive enterprises to adopt cybersecurity solutions and services for detecting and responding to advanced cyber threats and data breaches. Moreover, Small and Medium-sized enterprises (SMEs) are adopting cybersecurity solutions at a large scale, as they are more vulnerable to cyber-attacks and data breaches. With the adoption of cybersecurity solutions, organizations can effectively maintain and secure their critical information from data breaches and respond to cyber incidents more efficiently. Cybersecurity solutions help organizations optimize employees’ productivity, protect sensitive data and applications, and comply with stringent regulations.

The cybersecurity market by solution is segmented into Identity and Access Management (IAM), risk and compliance management, encryption, Data Loss Prevention (DLP), Unified Threat Management (UTM), firewall, antivirus/antimalware, Intrusion Detection System (IDS)/Intrusion Prevention System (IPS), security and vulnerability management, disaster recovery, Distributed Denial of Service (DDoS) mitigation, web filtering, and others (application whitelisting and patch management). The IAM solutions segment is expected to dominate the market during the forecast period and estimated to have the largest market size in 2018. Encryption solutions play a key role in changing the cybersecurity market space and enable enterprises to hide their critical data from unauthorized bad actors. As a result, the encryption solutions segment is expected to grow at the highest CAGR during the forecast period.

Among industry verticals, the healthcare industry vertical is expected to be the fastest growing, as it has to meet stringent legal and regulatory compliances associated with information security. SMEs continue to deploy cybersecurity solutions, as they are facing security concerns and cyber-attacks, such as Denial of Service (DoS) attacks, viruses, worms, Trojan horse infections, illegal inside activities, and cyber espionage.

Cybersecurity Market

Among regions, North America is estimated to hold the largest market size in 2018. North America is a region of innovative technology adopters and has a large presence of cybersecurity vendors who are contributing to the growth of the market. The increasing need among organizations to reduce the misuse of the internet, enhance employees’ productivity, and address attacks on their IT infrastructures is expected to drive the growth of the cybersecurity market in North America.

Furthermore, APAC is expected to grow at the highest CAGR during the forecast period. Rapid economic growth, and regulatory reforms and economic stability are expected to drive the growth of the cybersecurity market in APAC. In the APAC region, enterprises in industry verticals such as government; aerospace and defense; and Banking, Financial Services, and Insurance (BFSI) are expected to increase their investments in cybersecurity solutions and services.

Security vendors offer various solutions, including IAM, risk and compliance management, encryption, DLP, UTM, firewall, antivirus/antimalware, IDS/IPS, security and vulnerability management, disaster recovery, DDoS mitigation, web filtering, and others (application whitelisting and patch management) in the cybersecurity market, to detect, prevent, and respond to cyber-threats. In addition to this, security vendors provide various professional and managed services to support their customers.

As the frequency of security breaches has increased over the past 5 years, organizations have increased their IT security investment to ensure protection against advanced threats. However, for many enterprises, including SMEs, these investment costs are a matter of concern. To maintain strong and advanced security, the cost of innovation is still high. Hence, many organizations view budgetary constraints as a barrier to the adoption of advanced cybersecurity solutions and services.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Market Opportunities in the Cybersecurity Market
4.2 Market Share of Top 3 Security Types and Regions, 2018
4.3 Top 3 Solutions, 2018-2023
4.4 Cybersecurity Market, by Service, 2018-2023
4.5 Market by Professional Service, 2018
4.6 Market by Deployment Mode, 2018
4.7 Market by Organization Size, 2018
4.8 Top 3 Industry Verticals, 2018
4.9 Market Investment Scenario

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in the Frequency and Sophistication of Cyber Threats
5.2.1.2 Emergence of Disruptive Digital Technologies, Such as IoT, Across Industry Verticals
5.2.1.3 Stringent Data Protection Regulations for Information Security
5.2.1.4 Increase in the Number of Supply Chain-Based Attacks Exploiting the Software Supply Chain
5.2.2 Restraints
5.2.2.1 Limited Security Budget Among SMEs
5.2.2.2 Use of Pirated and Open Source Cybersecurity Solutions
5.2.3 Opportunities
5.2.3.1 Increase in the Ecommerce Penetration Across Industry Verticals
5.2.3.2 Leveraging Ai, Machine Learning and Blockchain Technologies for Cyber Defense
5.2.3.3 Growing Need of Cloud-Based Security Solutions Among SMEs
5.2.4 Challenges
5.2.4.1 Dearth of Cybersecurity Expertise for Proactive Strategic Planning
5.2.4.2 Lack of Interoperability With the Existing Information Systems
5.3 Regulatory Implications
5.3.1 General Data Protection Regulation
5.3.2 Payment Card Industry Data Security Standard
5.3.3 Health Insurance Portability and Accountability Act
5.3.4 Federal Information Security Management Act
5.3.5 Gramm-Leach-Bliley Act
5.3.6 Sarbanes-Oxley Act
5.3.7 The International Organization for Standardization 27001
5.4 Use Cases
5.4.1 Adoption of User Behavior Analytics for Detecting Insider Threats in Retail Organization
5.4.2 Dependence of A Leading IT and Telecom Company on DDOS Protection and Mitigation Solution
5.4.3 Dependence of Oil and Gas Organization on Ransomeware Protection Solution
5.4.4 Anomaly Detection Solution Adopted By Electric-Power and Gas Company
5.4.5 Large-Scale Adoption of Email Encryption in Financial Organization
5.5 Innovation Spotlight
5.5.1 Splunk
5.5.2 Cyberbit
5.5.3 Carbon Black
5.5.4 Balbix

6 Cybersecurity Market, By Component

6.1 Introduction
6.2 Solutions
6.3 Services

7 Market By Solution

7.1 Introduction
7.2 Identity and Access Management
7.3 Risk and Compliance Management
7.4 Encryption
7.5 Data Loss Prevention
7.6 Unified Threat Management
7.7 Firewall
7.8 Antivirus/Antimalware
7.9 Intrusion Detection System/Intrusion Prevention System
7.10 Security and Vulnerability Management
7.11 Disaster Recovery
7.12 Distributed Denial of Service Mitigation
7.13 Web Filtering
7.14 Others

8 Cybersecurity Market, By Service

8.1 Introduction
8.2 Professional Services
8.2.1 Design and Implementation
8.2.2 Risk and Threat Assessment
8.2.3 Consulting
8.2.4 Training and Education
8.2.5 Support and Maintenance
8.3 Managed Services

9 Market By Security Type

9.1 Introduction
9.2 Network Security
9.3 Endpoint Security
9.4 Application Security
9.5 Cloud Security
9.6 Others

10 Market By Deployment Mode

10.1 Introduction
10.2 On-Premises
10.3 Cloud

11 Market By Organization Size

11.1 Introduction
11.2 Small and Medium-Sized Enterprises
11.3 Large Enterprises

12 Cybersecurity Market, By Industry Vertical

12.1 Introduction
12.2 Aerospace and Defense
12.3 Government
12.4 Banking, Financial Services, and Insurance
12.5 IT and Telecom
12.6 Healthcare
12.7 Retail
12.8 Manufacturing
12.9 Energy and Utilities
12.10 Others

13 Cybersecurity Market, By Region

13.1 Introduction
13.2 North America
13.2.1 United States
13.2.2 Canada
13.3 Europe
13.3.1 United Kingdom
13.3.2 Germany
13.3.3 France
13.3.4 Rest of Europe
13.4 Asia Pacific
13.4.1 China
13.4.2 Japan
13.4.3 India
13.4.4 Australia and New Zealand
13.4.5 Rest of Asia Pacific
13.5 Middle East and Africa
13.5.1 Middle East
13.5.2 Africa
13.6 Latin America
13.6.1 Brazil
13.6.2 Mexico
13.6.3 Rest of Latin America

14 Competitive Landscape

14.1 Overview
14.2 Competitive Scenario
14.2.1 New Product Launches and Product Enhancements
14.2.2 Partnerships, Agreements, and Collaborations
14.2.3 Mergers and Acquisitions
14.2.4 Business Expansions

15 Company Profiles

15.1 IBM
15.2 Symantec
15.3 FireEye
15.4 Check Point
15.5 Cisco
15.6 Trend Micro
15.7 Sophos
15.8 Rapid7
15.9 McAfee
15.10 Micro Focus
15.11 Microsoft
15.12 Imperva
15.13 Splunk
15.14 F5 Networks
15.15 Proofpoint
15.16 RSA Security
15.17 AWS
15.18 Juniper Networks
15.19 Oracle
15.20 Fortinet
15.21 Palo Alto Networks
15.22 CyberArk
15.23 Forcepoint
15.24 F-Secure
15.25 Qualys

For more information about this report visit https://www.researchandmarkets.com/research/c3mf36/cybersecurity?w=5

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