Cybersecurity Services Global Market Report 2020-30: Covid 19 Growth and Change from Publisher provides the strategists, marketers and senior management with the critical information they need to assess the global cybersecurity services market.
This report focuses on cybersecurity services market which is experiencing strong growth. The report gives a guide to the cybersecurity services market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
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Major players in the cybersecurity services market are Cisco Systems, IBM Corporation, Microsoft, Check Point Software Technologies, Oracle, Trend Micro., CyberArk Software Ltd., FireEye Inc., Imperva Inc., and ProofPoint, Inc.
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Where is the largest and fastest growing market for the cybersecurity services- How does the market relate to the overall economy, demography and other similar markets- What forces will shape the market going forward- The Cybersecurity Services market global report from Publisher answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider cybersecurity services market, and compares it with other markets.
– The market characteristics section of the report defines and explains the market.
– The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the Covid 19 virus and forecasting its growth.
– Market segmentations break down market into sub markets.
– The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
– Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
– The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
– The cybersecurity services market section of the report gives context. It compares the cybersecurity services market with other segments of the cybersecurity services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, cybersecurity services indicators comparison.
Markets Covered: 1) By Security Type: Network Security; Endpoint Security; Application Security; Cloud Security; Others
2) By User Type: Large enterprises; Small & medium enterprises
3) By Industry Verticals: Aerospace and Defense; BFSI; Public sector; Retail; Healthcare; IT and Telecom; Energy and Utilities; Manufacturing; Others
Companies Mentioned: Cisco Systems; IBM Corporation; Microsoft; Check Point Software Technologies; Oracle
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
The global cybersecurity services market is expected to decline from $66.87 billion in 2019 to $65.46 billion in 2020 at a compound annual growth rate (CAGR) of -2.1%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities that has led to a slowdown in the economy. This impacted the bottom line of companies, restricting them from investing in cybersecurity services. The market is then expected to recover and reach $ 91.1 billion in 2023 at a CAGR of 11.64%.
The cybersecurity services market consists of sales of cybersecurity services that are used in IT and telecommunications and other industries. Cybersecurity refers to the collection of technologies, processes and practices designed to secure networks, computers, software and data against online attacks, destruction or data theft. Cybersecurity can also be identified as the security of information technology.
North America was the largest region for the cybersecurity services market in 2019.
Leveraging AI, machine learning and blockchain technologies for cyber defense is a key trend in the cybersecurity services market. Cybersecurity vendors integrate artificial intelligence (AI) and machine learning principles into their solutions to tackle crucial hyper-connected workplace risks, with quicker identification, prevention and responsiveness capabilities, the advances in technology, such as AI and machine learning, turn the tables against cybercrime. For example, Equifax experienced cyber-attacks in September 2017, which resulted in the loss of sensitive information from more than 140 million American customers. The stolen information included names, addresses, social security numbers, birth date and driver’s license numbers. Cybersecurity specialists are therefore leveraging AI and machine learning technology to resolve the emerging cyber threats facing individuals, companies and governments.
The cybersecurity services market covered in this report is segmented by security type into network security; endpoint security; application security; cloud security; others. It is also segmented by user type into large enterprises; small & medium enterprises and by industry verticals into aerospace and defense; BFSI; public sector; retail; healthcare; IT and telecom; energy and utilities; manufacturing; others.
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The increasing instances of massive cyber-attacks are a key factor driving the growth of the cybersecurity services market. The primary motive behind cybercrimes is political competition, financial gain, negative credibility, foreign competition and radical involvement of religious groups. Most cyber-attacks are for financial gain. WannaCry, Petya, NotPetya and BadRabbit are some of the main ransomware products that have targeted large-scale businesses and government organizations. For instance, in March 2018 in the city of Atlanta, US, SamSam ransomware cyber-attack was triggered. This form of ransomware is installed on the computer network using brute-force attacks to guess weak passwords and encrypt files. The ransomware implications included inaccessibility to various municipal facilities, information leakage and economic loss. Therefore, the increasing instances of massive cyber-attacks compel companies to integrate cybersecurity in their systems and functionality to prevent crashing thereby driving the growth of the cybersecurity services market.
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