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According to Inkwood Research, the global cyber security market is expected to flourish with a CAGR of 10.44% during the forecast period of 2019-2027. The market amounted at $XX billion in 2018 and is expected to generate a revenue of $286.68 billion by 2027. The growing risk of cyber threats among organizations accompanied by other factors contributes to the growth of the cyber security market on a global scale.
The global cyber security market includes various segments such as components, deployment, applications, industrial verticals, and organization size. The cyber security solution and services are used across a wide range of industries such as manufacturing, public sector, aerospace & defense, among others. Organizations like healthcare, banking sector, and government are most vulnerable to the cyber-attacks as they have critical data. As a result of this, the cybersecurity market growth is elevating in the upcoming years.
Geographically, the global cyber security market is classified into regions, namely Asia Pacific, Europe, North America, and Rest of World regional segment, which comprises of remaining global countries. The North America region is expected to provide a significant market for cybersecurity owing to the presence of several key companies in the region along with the growing cloud marketplace trends.
The prominent players operating in the cyber security market are Symantec Corporation, Cisco Systems Inc., Rapid7 Inc., FireEye Inc., Dell Technologies Inc., CyberArk Software Ltd., AVG Technologies (Acquired by Avast), Fortinet, Palo Alto Networks Inc., Trend Micro Inc., IBM Corporation, Check Point Software Technologies Ltd., Imperva, Proofpoint Inc., and Intel Security (Intel Corporation).