Cybercrime & Security Market

GMI Research analysis indicates that the Cybercrime & Security Market size was estimated at USD 153.6 billion in 2021 and is slated to register a double digit CAGR of 10.6% over the period 2022-2029 and is projected to reach USD 343.9 billion in 2029.

To have an edge over the competition by knowing the market dynamics and current trends of “Cybercrime & Security Market,” request for Sample Report here

Key Drivers

The cybercrime & security market will become more mainstream in the next six years thanks to the emergence of disruptive and advanced technologies, particularly in BFSI, IT, defense, and manufacturing industries. Additionally, the increasing popularity of digitalization has encouraged large companies to rely on digitalized information. The process of sharing a large volume of data in internal and external environment has made companies to fall prey to cybercrime through different forms of attacks. Hence, cyber safety is becoming an important concern for the leading organization due to the growing emphasis on reducing cybercrime activities, which can hinder business performance.

Numerous technologies, including the Internet of Things (IoT) and the introduction of new business models is increasing the reliance on global digitalization. With the increasing complexity in systems, interconnections, and handling of more information, the exposure of attaching surface has widened up. This factor is further surging the demand for cyber security in order to safeguard the information and prevent it from getting leaked. Moreover, the increasing trend of using third-party for data storage and cloud-based services have raised the possibilities of online attack. This factor has motivated the end-users to opt for endpoint and wireless safety services for enhancing access to corporate information, including on-premise and outside the corporate network. With the outbreak of COVID-19 pandemic, various incidences and cases of cybercrime have been observed in the industry, which will further energize the demand of the market in the coming years.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Deployment Type – Segment Analysis

Based on the deployment type, the cloud segment is projected to increase at a higher CAGR during the forecast period. This is attributed to the low maintenance cost of the cloud, which is the main reason for its increased adoption among the small & medium enterprises.

Industry Verticals – Segment Analysis

On the basis of Industry Verticals, the BFSI segment is anticipated to dominate the market in the next six years. The growing requirement for offering sealed security and digital privacy, especially in financial institutions is the major factor that is contributing to the growth of the segment in the market. Moreover, the increasing adoption of smartphones, internet banking, and cloud computing is surging the demand of the segment in the coming years.

Solution – Segment Analysis

Based on the solutions, the Identity and Access Management segment is expected to witness a higher CAGR over the forecast period. This is mainly due to the accelerating adoption of mobile endpoints across companies, which is raising various related risks such as vulnerability and breaches. In addition to this, the growing usage of cloud computing and shared network to access critical organizational data is further surging the requirement of IAM solutions around the world.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis     

Based on the region, North America region is predicted to lead the market during the forecast period owing to the strong presence of prominent security vendors, that have headquarters situated in the U.S. Moreover, the growing spending on security solutions and services by large organizations and SMEs is another factor enhancing the growth of the market in this region. On the other edge, the Asia-Pacific region is projected to grow at a higher CAGR over the forecast period. This is attributed to the rising efforts towards securing endpoints, cloud infrastructure, and networks, which is increasing the demand of the market. Furthermore, the accelerating adoption of cloud and digital services and the rising usage of the internet, which in turn, is growing digital services, are two other factors that are responsible for boosting the growth of the market.

Top Market Players

Various notable players operating in the market, include BAE Systems, Cisco Systems, Inc., Centrify Corporation, Check Point Software Technology Ltd., FireEye, Inc., Fortinet, Inc., IBM, LogRhythm, Inc., Lockheed Martin Corporation, and Palo Alto Networks, Inc., among others. 

Key Developments: 

• • In 2017, Cisco Systems, Inc., entered into a partnership with IBM security to work closely across products, services, and threat intelligence for the benefit of customers.

Segments covered in the Report:

The global Cybercrime & Security Market has been segmented on the basis of solution, deployment type, industry verticals, and key regions. Based on solution, the market is segmented into infrastructure security, Identity and Access Management (IAM), unified vulnerability management service offering, governance, risk, & compliance, and data security & privacy service offering. Based on deployment type, the market is segmented into on-premises and cloud. Based on industry verticals, the market is segmented into BFSI, aerospace & defense, retail, public sector, IT & Telecom, healthcare, manufacturing and energy & utilities. 

For detailed scope of the “Cybercrime & Security Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global Cybercrime & Security Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Cybercrime & Security Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Cybercrime & Security Market?
  • Which deployment type generated maximum revenues in 2021 and identify the most promising deployment types during the forecast period?
  • What are the various solution areas of global Cybercrime & Security Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Cybercrime & Security Market by Solution

• • Infrastructure Security
  • Identity and Access Management (IAM)
  • Unified Vulnerability Management Service Offering
  • Governance, Risk, & Compliance
  • Data Security & Privacy Service Offering

Global Cybercrime & Security Market by Deployment Type

• • On-Premises
  • Cloud

Global Cybercrime & Security Market by Industry Verticals

• • BFSI
  • Aerospace & Defense
  • Retail
  • Public Sector
  • IT & Telecom
  • Healthcare
  • Manufacturing
  • Energy & Utilities

Global Cybercrime & Security Market by Region

• • North America Cybercrime & Security Market (Option 1: As a part of the free 25% customization)
    • By Solution
    • By Deployment Type
    • By Industry Verticals
    • US Market All-Up
    • Canada Market All-Up
  • Europe Cybercrime & Security Market (Option 2: As a part of the free 25% customization)
    • By Solution
    • By Deployment Type
    • By Industry Verticals
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Cybercrime & Security Market (Option 3: As a part of the free 25% customization)
    • By Solution
    • By Deployment Type
    • By Industry Verticals
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Cybercrime & Security Market (Option 4: As a part of the free 25% customization)
    • By Solution
    • By Deployment Type
    • By Industry Verticals
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Cybercrime & Security Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • BAE Systems
  • Cisco Systems, Inc.
  • Centrify Corporation
  • Check Point Software Technology Ltd.
  • FireEye, Inc.
  • Fortinet, Inc.
  • IBM
  • LogRhythm, Inc.
  • Lockheed Martin Corporation
  • Palo Alto Networks, Inc.