Cyber security Market Share, Segmentation, Report 2024

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Cybersecurity Market will be valued USD 300
billion by 2024 Global Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
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Overview of Cybersecurity Market

• The rising penetration of various mobile
  wireless devices is fostering the growth of the
  cyber security market. The falling prices of
  mobile devices and advancements in the
  connectivity infrastructure across the globe are
  propelling the adoption of smart devices across
  enterprises and consumers. This has caused a
  simultaneous increase in the number of
  cyber-attacks on mobile devices. In 2017,
  cyberattacks on mobile devices increased by over
  40 with an average of over 1.2 million attacks
  per month. Hence, end-users and organizations are
  embracing cybersecurity solutions leading to the
  growth of the market.
• The cyber security market is propelled by the
  increasing need among enterprises to minimize
  security risks. As enterprises are rapidly
  embracing cloud platforms and other networking
  technologies, they are becoming more vulnerable
  to various cyber-attacks. The average expenditure
  on cybercrime has increased significantly. In
  2017, the average spending by organizations on
  cybersecurity solutions increased by over 23
  accounting for over USD 11.7 million. This rise
  in budgetary allocations in cybersecurity
  solutions is driving the growth of the
  cybersecurity market.

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• The IAAM market will grow at a CAGR of over 17
  over the forecast timespan. The increasing
  spending by large enterprises and government
  organizations is driving the growth of the
  market. Additionally, the emergence of stringent
  regulatory compliances due to security concerns
  is expected to increase, impacting positively on
  market growth. The infrastructure protection
  market is also expected to grow at a significant
  pace over the projected frame due to the growing
  adoption of IoT devices and the increasing use of
  email web-based applications.
• In 2017, the large enterprises market accounted
  for a market share of over 60 in the global
  cyber security market. The increasing risk of
  cyber-attacks is driving the adoption of
  cybersecurity solutions among large enterprises.
  In 2017, the large organizations lost an average
  of over USD 10 million due to cybersecurity
  breaches. The average cost of cyber-attacks rose
  by 11 in 2017. This has encouraged large
  enterprises to adopt security solutions to
  mitigate the risk of cyber-attacks. The SME
  market is anticipated to witness a high growth
  rate due to the extensive adoption of BYOD
  policies to improve employee productivity.

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• The transportation market is expected to grow at
  a CAGR of over USD 15 over the projected
  timespan. The use of smart logistics, IIoT, and
  other reconstruction initiatives have further
  increased the risk by creating a wider attack
  surface from enormous systems. Any disruption in
  the operations of transportation and logistics
  companies can cause substantial downtime and loss
  of revenue. This is leading transportation
  companies to implement cybersecurity solutions.
  The IT telecom sector is also predicted to grow
  at a high pace as it deals with sensitive
  customer data used for providing unified
  communication services.
• In 2017, Europe accounted for a share of over 20
  in the global cyber security industry. The
  regional market is expected to grow exponentially
  due to a rise in the number of government
  investments and public-private partnerships to
  enhance the cybersecurity infrastructure. In
  addition, there is an introduction of supportive
  government policies and compliance regulations
  mandating companies to adopt security measures.
  The Asia Pacific cyber security market is
  predicted to grow at a CAGR of 20 over the
  forecast timespan. Extensive digitalization
  across multiple industry verticals and the rising
  number of smartphone users are factors driving
  the growth of the in the region.

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• Prominent companies operating in the cyber
  security market include BAE Systems, Cisco
  Systems, Inc, CyberArk Software Ltd., McAfee LLC,
  Microsoft Corporation, IBM Corporation, Intel
  Corporation, Proofpoint Inc. Rapid7, Sophos Group
  plc, Splunk, Inc, Symantec Corporation and Trend
  Micro, Inc. RSA Security, LLC., Oracle
  Corporation, Palo Alto Networks, Inc., FireEye,
  Inc., Fortinet, Inc., Hewlett-Packard, Ltd.,
  F-Secure Corporation, F5networks, Inc., Check
  Point Software, etc.

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U.S. Cybersecurity Market
Revenue, By Product, 2017 2024
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