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Cyber Security Market Size

Report ID: GMI3078
Published Date: Nov 2022
Report Format: PDF

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Cyber Security Industry Analysis

Cyber Security Market size exceeded USD 200 billion in 2022 and is estimated to grow at over 15% CAGR from 2023 to 2032 driven by mounting internet access across the globe. Increasing consumer inclination toward mobile and wireless gadgets is anticipated to benefit the industry growth. The increasing use of 5G technology and soaring demand for IoT devices are projected to bolster market progress. These modern technologies are more vulnerable to attacks and hence, require high levels of network security. As the global connectivity infrastructure advances quickly, businesses and consumers are embracing smart gadgets. Furthermore, the demand for cybersecurity solutions is rising with the booming digital transformation across varied industries.

Global Cyber security Market

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Cyber Security Market Report Attributes
Report Attribute	Details
Base Year:	2022
Cyber Security Market Size in 2022:	USD 200 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	15%
2032 Value Projection:	USD 900 Billion
Historical Data for:	2018 to 2022
No. of Pages:	450
Tables, Charts & Figures:	695
Segments covered:	Product, Organization Type, End-user, and Region
Growth Drivers:	Increasing incidents of cyber-attacks Growing need among organizations to minimize security risks Increase in the number of IoT devices demanding network security solutions Penetration of smartphones Increasing demand for enterprise mobility
Pitfalls & Challenges:	Lack of IT resources and in-house expertise Lack of knowledge about IAM solutions Limited security budget among SMEs

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market for cyber security was valued at USD 200 billion in 2022 and is expected to witness 15% CAGR from 2023 to 2032 impelled by mounting internet access across the globe.

The vulnerability assessment infrastructure protection segment held over 20% market share in 2022 and is estimated to witness sturdy growth as companies are opting for regular vulnerability assessments to safeguard IT assets, keep up with the environment's weaknesses, and react promptly to any attacks.

The Asia Pacific cybersecurity industry is projected to grow at over 20% CAGR through 2032 owing to the rapid industrial digitalization across the region.

The industry consists of renowned technology companies such as BAE Systems, Inc., Cisco Systems, Inc., Dell Technologies Inc., Palo Alto Networks, Inc., DXC Technology Company, F5, Inc., Fortinet, Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, and others.