Cyber Security Market 2023-2032; Growth Forecast & Industry Share Report

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Cyber Security Market 2023-2032 Growth Forecast
Industry Share Report
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• Industry Insights

• As per a recent research report, Global Cyber
  Security Market share is likely to surpass USD
  900 billion valuation by 2032.
• The noticeable surge in digital payments across
  the globe led to a significant transformation in
  both online and offline transaction techniques.
  Businesses are now focusing on digitizing their
  operations to increase income through digital
  payment options. Further innovation in this area
  will be encouraged by the growing consumers'
  demand for rapid, inexpensive, and efficient
  payment experiences, which is projected to boost
  the cyber security market growth throughout the
  forecast period.
• The cybersecurity market is classified based on
  product, organization, end-user, and region.
• As per product, the security services segment
  held over 60 market share in 2022. Cybersecurity
  services providers globally have been improving
  their security posture to protect businesses from
  potential threats and further fortify their cyber
  defenses. This, in conjunction with the increased
  cost-effectiveness associated with security
  services and proliferating BYOD trends, is
  foreseen to aid segment growth.

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• With regard to security services, the
  cybersecurity industry from the managed security
  services segment amassed over 35 market share in
  2022. Managed security services assist consumers
  in fulfilling their requirements associated with
  complicated system reporting and proactively
  recognizing network performance problems.
  Besides, the capability of these services to
  provide the necessary support and oversee the
  clients' networks is poised to transform the
  market dynamics through 2032.
• Based on organization, the cyber security market
  share from the large enterprises segment is
  estimated to record a sizeable valuation by the
  end of 2032. Despite enormous investment in
  network protection devices by large enterprises,
  hackers continue to find alternative access
  routes into their data systems. An increasing
  number of large enterprises have been emphasizing
  improving their disaster preparedness plans and
  recovery protocols to address these issues. This,
  in turn, is speculated to propel segment revenues
  over the next ten years.

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• Regional Analysis

Regionally, the cybersecurity market in the
Middle East was valued at over USD 5 billion in
2022. Cybercriminals globally have turned their
focus to the Middle East due to its booming
economy and the ongoing digital transformation in
the region. As per credible sources, over 2.57
million phishing attempts were recorded in the
Middle East between April and June 2020. Thus,
the escalating cyber threats and the growing
adoption of cloud computing is forecast to drive
growth in the MEA cybersecurity industry.

• Competitive Analysis

• BAE Systems, Inc., Cisco Systems, Inc., Dell
  Technologies Inc., Palo Alto Networks, Inc., DXC
  Technology Company, F5, Inc., Fortinet, Inc., IBM
  Corporation,

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