WASHINGTON, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Vantage Market Research published a report titled – “Cyber Security Market by Component (Solutions, Services) by Solution/Offering (Identity & Access Management, Infrastructure Security, Governance, Risk & Compliance, Unified Vulnerability Management Service Offering, Data Security & Privacy Service Offering, Others) by Deployment Type (Cloud, On-premise), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028”. As per the report, the Cyber Security Market is expected to reach USD 305.69 Billion by 2028, growing at a CAGR of 9.2% between 2021 and 2028. Factors which are facilitating Cyber Security Market growth are rise in phishing attempts, increasing use of service model, expansion in the use of crypto, among others.
The solutions segment is projected to expand over 8.1% CAGR over the forecast period. The key factor driving the growth of solutions segment is the need to protect the infrastructure across various industries like utilities, government, and others threat of cyber-attacks.
The Identity & Access Management segment held a market share of more than 19.89% in 2020. Factors like increasing need of tracking employee activities and managing data properly and allowing information to certain employees are some benefits contributing in endorsement of Identity & Access Management solutions. The need to track different user-related incidents and automate related to security is also contributing in Identity & Access Management solutions growth across various firms.
North America is expected to expand at a CAGR of 10.1% between 2021 and 2028. Increasing budget on security of services and solutions by Small & Medium enterprises and large enterprises in the region is expected to boost the regional market.
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Some of key players in Cyber Security Market are as mentioned below:
Airbus DS Communication
ManTech International Corporation
Booz Allen Hamilton
Lockheed Martin Corporation
General Dynamics Corporation
Northrop Grumman Corporation
Key W Holding Corporation
Checkpoint Software Technologies Ltd.
Thales, NetCentrics, Airbus DS Communication, ManTech International Corporation, Booz Allen Hamilton, Panda Security, Salient CRGT, Lockheed Martin Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Camber Corporation, CACI International, KeyW Holding Corporation, Checkpoint Software Technologies Ltd., BAE Systems, Digital Management, among others. Manufacturers are focusing on opting for various growth strategies such as mergers, acquisitions, and geographical expansion to increase their market share and gain a competitive advantage.
In case a company’s system is infected, it can lead to data leak, and bankruptcy. Rising damages and threats are facilitating the Market for Cyber Security. Associations are dedicatedly preparing Cyber Security plans for malware to fight and protect against themselves. Cyber-attack is difficult to fight and detect, many different mechanisms for protection must be used. The most prominent protection is the sensitization and training of employees. Growing cases of phishing is also facilitating the market. Phishing mails aren't sometimes addressed at all, these mails are sent to a number of potential victims, and the attempt is to conspire them into logging into a hoax version of common sites.
Browse 304 market data Tables and 22 Figures spread through Pages and in-depth TOC on "Cyber Security Market by Component (Solutions, Services) by Solution/Offering (Identity & Access Management, Infrastructure Security, Governance, Risk & Compliance, Unified Vulnerability Management Service Offering, Data Security & Privacy Service Offering, Others) by Deployment Type (Cloud, On-premise), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028" Report at https://www.vantagemarketresearch.com/industry-report/cyber-security-market-0180
Impact of COVID-19:
The present epidemic has affected every market in the world. Many businesses, including the worldwide Cyber Security Market, have been impacted by the COVID-19 pandemic. To battle the epidemic, the government and nations have implemented a number of strict measures, including lockdown and adjustments to a number of industrial rules, in order to assist various enterprises in remaining competitive. The paper includes a full breakdown of the pre- and post-pandemic effect analysis. During the COVID-19 situation, the market is projected to gradually gain traction by implementing strategic plans.
Asia Pacific is likely to record a substantial CAGR, Application in various enterprises from different sectors, such as telecom, energy, finance, and technology is set to bolster the demand in Asia Pacific. Generally, these attacks are ubiquitous amongst Southeast Asian countries.
Important questions answered in this report:
What is the estimated market size and growth rate of the Cyber Security Market?
Which segments are included in the Cyber Security Market?
Which top companies are active in the Cyber Security Market?
What are the major driving factors for the growth of the Cyber Security Market?
How can I get free sample reports or study of Cyber Security Market?
The Cyber Security Market is segmented as follows:
By Component (Revenue: USD Billion, 2016-2028)
By Solution/Offering (Revenue: USD Billion, 2016-2028)
Identity & Access Management
Risk & Compliance
Unified Vulnerability Management Service Offering
Data Security & Privacy Service Offering
By Deployment Type (Revenue: USD Billion, 2016-2028)
By User Type (Revenue: USD Billion, 2016-2028)
Small & Medium Enterprises
Get detailed COVID-19 impact analysis on the Cyber Security Market- https://www.vantagemarketresearch.com/insight/press-release/cyber-security-market-658050
Rest of Europe
South East Asia
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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