Geographically, the market is classified into South America, North America, Asia Pacific, Europe, the Middle East & Africa.By components, the global cyber security industry is divided into solutions (network security, cloud application security, end-point security, secure web gateway, application security, others) and services.By industry, the market is segmented into BFSI, IT and Telecommunications, retail, healthcare, government, manufacturing, travel and transportation, energy and utilities and others.On the basis of enterprise size, the market is split into Small and Medium Enterprises (SMEs) & Large Enterprises. By deployment type, the Cyber Security Market is bifurcated into on-premises and cloud.Furthermore, as significant actors embrace more strategies such as mergers and collaborations, security solutions will improve.Ĭlick here to get the short-term and long-term impact of COVID-19 on this Cyber Security Market. This expansion is attributable to increased government and private sector investment in nations such as the Gulf Cooperation Council, South Africa, and others. The Cyber Security Market in Middle East & Africa, and South America regions are expected to rise significantly. According to research published by the internet security firm Symantec Corporation, India was ranked among the top ten countries in the world for combating secure web gateway crimes in 2019. The increase is due to an increase in the number of service providers as well as increased government and international investor investments in various security projects. Countries such as China, India, and Korea are expected to grow at a rapid pace. Advanced IT security solutions are installed by key providers to protect highly sensitive information related to manufacturing operations while also increasing productivity.Īsia Pacific is expected to increase at an exponential rate. The increasing number of internet security projects and related investments by large firms in the U.K., Spain, Germany, Italy, France, and others are driving the expansion. The cybersecurity industry in Europe is expected to increase at a significant CAGR. To provide better security measures to businesses, the government uses advanced network security protocols. and Canada, the growing number of online e-commerce platforms is boosting the market growth. The growing frequency of high-profile security breaches in the region is driving demand for cloud application security solutions. North America Cyber Security Market Size, 2020 (USD 62.41 Billion). North America to Lead the Global Cyber Security Market The demand for innovative solutions is expanding dramatically as the number of internet security threats increases, this factor may impede the global cyber security market growth. The demand for network security solutions is expanding as these technologies are increasingly adopted to combat cyber-attacks. Furthermore, e-commerce businesses are concentrating on integrating network security solutions into their IT and electronic security systems. Internet security solutions in connected network infrastructure have strengthened as e-commerce platforms and artificial intelligence, cloud technology, and blockchain have emerged. Lack of Experts and Budget Constraints for SMEs to Hinder the Market Growth Market Growth will be driven by the Increasing Number of E-Commerce Platforms Component Deployment Type Enterprise Size Industry and Region
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