Cyber security market is very fragmented & highly competitive market that comprises several global & regional players. Cyber Security is a key concern that helps the organizations to monitor, detect, report, and contradict cyber threats for maintaining data confidentiality. As the innovation is developing and new applications are coming into market, programmers are finding the new escape clauses and taking the significant & secret information's from the servers and selling it to the other countries or in bootleg market. New innovations can bring a sustainable and competitive advantage to the firms. New fields including Big Data and Internet-of-Things (IoT) are reforming their security trends and firm concentration ratio is likely to record higher growth over the forecast period. Our Market Research Report of Cyber Security can facilitate in evaluating the key market highlights.
Some of the key players that are currently working in the cyber security market are Cisco Systems Inc., AVG Technologies, and IBM Corporation, among others. These vendors offer both professional & managed services to provide IT support or assistance for troubleshooting software issues as well as carrying out regular maintenance. Furthermore, increase in need for continuous event monitoring, susceptibility management, and real-time dedicated security support for appropriate delivery of products is persuasive enterprises to adopt these services. Thus, the need for timely support and professional assistance is anticipated to aid the growth of cyber security market subsequently.
On the basis of product type, cyber security market is segregated as Identity Authentication and Access Management (IAAM) (Identify Access Management, Access Management), Network Security (Internet Service Provider Equipment, Virtual Private Network (VPN), Unified Threat Management (UTM), Firewall), Infrastructure Protection (Email/Web Gateway, Endpoint Protection, Security Information And Event Management (SIEM), Vulnerability Management, Cloud Security, Data Loss Prevention (DLP)) and Security Services (Managed Security Services, Consultancy & Training, Implementation, Hardware Support). On the basis of organization, market is segregated as government, SME and large enterprises. In addition, on the basis of industry vertical, market is segregated as IT & telecom, government, banking, manufacturing, transportation By Organization (SME, Government, Large Enterprises), By Industry (Banking, Government, Manufacturing, Transportation, IT & Telecom, Insurance, Securities).
Currently, Cyber security against digital threats undertakes greater significance in digital changing landscape. It has become very important amid organization owing to rapidly increasing frauds, risk, threats, cybercrimes, and vulnerabilities. Disruptive & emerging technologies in defense, retail, banking, information technology, and manufacturing sectors have offered facilitated automation, novel capabilities, and offered ease of working in the recent past. However, these technologies have also appeared as an effective factor in the development of the global threat landscape of vulnerabilities, exploits, and malware. The emerging intimidation landscape is observed with growing number of cybercrime activities in the global digital era.
The adoption of cyber security solutions is predictable to grow with the rising penetration of the internet among the developing & developed countries as well as surge in need for security solutions has been marked extremely by the private financial & banking services sectors, along with the aerospace & defense and healthcare sectors. However, budget limitations among organizations may impact the market. It is estimated that Cyber Security Market Revenue will be reached at rapid pace as a result of growth in adoption of mobile device applications & platforms during the forecast period.
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Ankur Gupta, Head Marketing & Communications