Market Research Engine: Cyber Security Market Worth US$ 170 Billion by 2022

20/12/2016 11:49

New York, December 19: Market Research Engine has published a new report titled as “Cyber Security Market: Global Industry Analysis and Opportunity Assessment 2015 – 2022”

The cyber security market is anticipated to value USD 172 billion at a healthy CAGR of 10% during the forecast period.

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Cyber security is the technology or process planned to care of compute devices, laptops, networks, programs and information or data from illegal or unauthorized access, attack, change and damage in cyber space. In different industry such as military, hospitals, government sector etc. stores the private data on personal computer or laptop. This data or information is spread across one network to another network or across other PC. With the increasing level and complexity of cyber attacks constant awareness is essential to protect personal and business data and protect public security. Cyber security will protect from virus and hackers. The purposes of cyber security used within computer want update weekly.

North America is a largest contributor to this market owing to adoption of cyber security in commercial industries and as well as on personal computing. North America is projected to maintain its peak position during the forecast period. Asia Pacific will show remarkable growth in the following period (2015 to 2022).

The major driving factors of cyber security market are as follows:

o Increasing popularity of online data and digital data.
o Rising strictness of cyber security.
o Cloud security opening latest expansion opportunity.
o Rising security requirement in significant infrastructure and utilities.
o Tougher government policies.
o Development of social media.

The restraints factors of cyber security market are as follows:

o Need of security alertness
o Rising usage of pirate software
o Cyber ability space.

The cyber security market is segmented on the lines of itstype ,solution, service and vertical analysis. The cyber security market is segmented on the lines of its type like network security, endpoint security, application security, content security, wireless security and cloud security. Under solution segmentation it covered into identity and access management (IAM), risk and compliance management, encryption, data loss prevention, unified threat management, firewall, antivirus and antimalware, IDS/IPS, SIEM, disaster recovery, DDOS mitigation and whitelisting. The cyber security market is segmented on the lines of its service like consulting, design and integration, risk and threat assessment, managed security services and training and education. Under vertical segmentation it coverd aerospace, defense, and intelligence, government (excluding defense) and public utilities, banking, financial services, insurance (BFSI), telecommunication, healthcare, retail and manufacturing.The cyber security market is geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geography market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.

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