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The information security products and services market size is forecast to increase by USD 377.1 billion at a CAGR of 21.49% between 2023 and 2028. The market is experiencing significant growth due to the increasing sophistication of cyber threats. Advanced persistent threats, ransomware attacks, and data breaches continue to pose significant risks to organizations, driving demand for strong security solutions. Another trend in the market is the emergence of unified platforms for authentication solutions, which offer streamlined access control and improved security. The complexity of network infrastructure, with the proliferation of IoT devices and cloud services, further complicates security efforts and necessitates advanced threat detection and response capabilities. Overall, the market is expected to grow at a compound annual growth rate of 12% through 2025, as organizations invest in next-generation security technologies to protect their digital assets.
The market is witnessing significant growth due to the increasing reliance on technology and digitalization across various industries. Artificial Intelligence and Machine Learning are key technologies driving the market, enhancing Big Data's ability to detect Advanced Persistent Threats (APTs) and mitigate Cybercrime. The Internet of Things (IoT), 5G, Edge Computing, and Cloud Computing are also major factors fueling market growth. Cloud Workload Security and Cyber Security Market segments include Healthcare, Aviation, Automotive, and others. Intrusion Detection Systems (IDS) and Intrusion Prevention Systems (IPS) are essential components of the cybersecurity ecosystem, providing real-time threat detection and prevention. Data breaches continue to pose a significant challenge, necessitating the adoption of advanced cybersecurity solutions.
Remote work and multi-cloud strategies have become the new norm, leading to the integration of technologies and the need for strong Cybersecurity Transformation. E-commerce Platforms, Small & Medium Enterprises (SMEs), and Large Enterprises are investing heavily in cybersecurity to protect their digital assets. The Cybersecurity Market is expected to continue its growth trajectory, with the integration of AI, Big Data analytics, and other technologies playing a crucial role.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 202 for the following segments.
The on-premises segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth due to the increasing reliance on advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in cybersecurity. Big Data and IoT are also driving market expansion, as organizations seek to protect fiber broadband networks and implement 5G and edge computing. Cloud Computing, including Cloud Workload Security, is a major focus for healthcare, aviation, automotive, and other industries, necessitating vigorous cybersecurity solutions. Digital transformation and remote work have accelerated the need for advanced cybersecurity measures, particularly against intrusion from Advanced Persistent Threats (APTs) and cyberattacks. E-commerce platforms and Small & Medium Enterprises (SMEs) are increasingly targeted, highlighting the importance of data privacy and cybersecurity transformation.
Integration of technologies like AI, Big Data analytics, Single SignOn, MultiFactor Authentication, NextGeneration Firewalls, and Cybersecurity solutions form the cybersecurity ecosystem. Cloud Application Security, Cybersecurity Market, and Multi-cloud and Hybrid strategies are also crucial components. The market is further driven by the rise of cybercrime, cyberespionage, and targeted attacks. Overall, the market is poised for continued growth, as organizations prioritize securing their digital assets in the face of evolving threats.
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The on-premises segment accounted for USD 58.60 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market is experiencing significant growth due to the increasing number of cyber threats and attacks. However, challenges such as the cyber talent shortage and economic downturns pose obstacles to market deployment. The cyber talent shortage makes it difficult for organizations to find and hire skilled professionals to manage their security infrastructure. Economic downturns can lead to budget constraints, causing companies to delay or reduce their security spending. Despite these challenges, the market is expected to continue expanding as businesses prioritize cybersecurity to protect their digital assets and maintain customer trust. The market offers various solutions such as firewalls, antivirus software, intrusion detection systems, and security consulting services to help organizations fortify their defenses against cyber threats.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Advanced and sophisticated threats is the key driver of the market. The market is experiencing significant growth due to the increasing number of data breaches and cybercrime incidents. Advanced threats, such as Artificial Intelligence (AI) and Machine Learning (ML) attacks, are becoming more prevalent, targeting networks, people, and devices. The digital transformation, driven by technologies like Big Data, the Internet of Things (IoT), 5G, Edge Computing, Cloud Computing, and Multi-cloud strategies, is expanding the attack surface, making it essential for businesses to invest in concentrated cybersecurity solutions. Industries like healthcare, aviation, automotive, and finance are particularly vulnerable to cyberattacks due to the sensitive data they handle. Intrusion Detection Systems (IDS) and Intrusion Prevention Systems (IPS) are becoming increasingly important for detecting and preventing Advanced Persistent Threats (APTs) and targeted attacks.
The integration of technologies like AI and Big Data analytics is enhancing the capabilities of cybersecurity solutions, enabling faster threat detection and response. Cybersecurity Transformation is a priority for businesses, with a focus on securing cloud workloads, implementing Single SignOn and MultiFactor Authentication, and deploying Next-Generation Firewalls. The importance of data privacy is driving the adoption of advanced cybersecurity technologies, such as Cloud Application Security and Data Privacy Solutions. E-commerce platforms and Small & Medium Enterprises (SMEs) are also investing in cybersecurity solutions to protect their digital assets and maintain customer trust. Remote work and the increasing use of fiber broadband networks are creating new challenges for cybersecurity, making it essential for businesses to adopt a comprehensive cybersecurity ecosystem.
The cybersecurity market is expected to continue growing, driven by the increasing number of cyberattacks, cyber espionage, and targeted attacks.
The emergence of a unified platform for authentication solutions is the upcoming trend in the market. The market is witnessing significant growth due to digital transformation and increasing cyber threats. With the advent of technologies like Artificial Intelligence (AI), Machine Learning (ML), Big Data, Internet of Things (IoT), 5G, Edge Computing, and Cloud Computing, the market is experiencing a swell in demand for advanced cybersecurity solutions. Cloud Workload Security, Healthcare Cyber Security, Aviation Cyber Security, and Automotive Cyber Security are some of the major sectors investing in cybersecurity. Intrusion Detection Systems (IDS) and Intrusion Prevention Systems (IPS) are essential components of cybersecurity solutions, providing real-time monitoring and protection against Advanced Persistent Threats (APTs). AI and Big Data analytics are being integrated into these systems to enhance their capabilities.
Fiber broadband networks are also essential for secure data transmission, and cybersecurity is a critical concern for e-commerce platforms and Small & Medium Enterprises (SMEs) as well as Large Enterprises. Remote work and Multi-cloud strategies, including Hybrid strategies, have become the new norm, increasing the complexity of cybersecurity. Cybersecurity Market is expected to grow exponentially due to data breaches and cybercrime. Cybersecurity solutions are becoming increasingly important in the cybersecurity ecosystem, with Single SignOn, MultiFactor Authentication, Next-Generation Firewalls, and Cyberattacks being major areas of focus. Data Privacy Importance is another critical factor driving the market. Hardware OTP authentication, which comprises both software and hardware authentication solutions, is expected to coexist.
Cost-conscious industries will adopt software authentication solutions, while large enterprises with traditional setups will opt for hardware solutions. Vendors are introducing unified platforms that provide both hardware and software authentication solutions to reduce costs and enable easy switching to other authentication solutions. Cybersecurity Transformation is a priority for businesses to protect against cyber espionage, targeted attacks, and cyberattacks.
The complexity of network infrastructure is a key challenge affecting market growth. The market is witnessing significant growth due to digital transformation and increasing cyber threats. With the advent of technologies such as Artificial Intelligence (AI), Machine Learning (ML), Big Data, Internet of Things (IoT), 5G, Edge Computing, and Cloud Computing, the security landscape is becoming increasingly complex. The integration of these technologies in various industries, such as healthcare, aviation, automotive, and e-commerce platforms, necessitates advanced cybersecurity solutions. Cloud workload security, single sign-on, multi-factor authentication, next-generation firewalls, and intrusion detection and prevention systems are some of the essential cybersecurity solutions in the current market. The cybersecurity ecosystem is evolving, with cyberattacks, cybercrime, and advanced persistent threats on the rise.
Remote work and multi-cloud and hybrid strategies are becoming the new normal, further complicating the security landscape. Vendors in the cybersecurity market are offering innovative solutions to address these challenges. For instance, AI and big data analytics are being used to detect and respond to cyber threats in real-time. Fiber broadband networks are being deployed to enhance network security and support the increasing bandwidth requirements. However, the integration of these advanced technologies comes with its own set of challenges. The complexity of security products and services is becoming a significant concern for vendors, as it may lead to customer dissatisfaction and attrition.
Therefore, seamless integration with third-party solutions and previous versions is crucial to ensure customer satisfaction and retention. Moreover, data privacy importance is gaining significance, and cybersecurity transformation is becoming a priority for small and medium enterprises (SMEs) and large enterprises alike. In conclusion, the cybersecurity market is witnessing significant growth, and vendors must address the challenges of integration, data privacy, and cyber threats to provide effective and efficient solutions to their customers.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Information Security Market: Overview and Key Trends The Information Security market is witnessing significant growth due to the increasing adoption of technologies such as Artificial Intelligence (AI), Machine Learning (ML), Big Data, Internet of Things (IoT), 5G, Edge Computing, and Cloud Computing. These technologies are transforming various industries, including Healthcare, Aviation, Automotive, and E-commerce, among others. Cybersecurity is a critical component of digital transformation, with Data breaches and Cybercrime posing significant risks to businesses and individuals. Cybersecurity solutions are essential to protect against Advanced Persistent Threats (APTs), Cyberattacks, Cyber Espionage, and Targeted Attacks. Cloud Computing, Multi-cloud strategies, and Hybrid strategies are becoming increasingly popular, leading to the growing importance of Cloud Workload Security, Single SignOn, MultiFactor Authentication, NextGeneration Firewalls, and other cybersecurity solutions.
The integration of technologies such as AI and Big data analytics is also driving innovation in the Cybersecurity ecosystem. The Cybersecurity Market is expected to grow significantly due to the increasing importance of Data Privacy, Fiber Broadband Networks, and the adoption of advanced technologies. Small & Medium Enterprises (SMEs) and Large Enterprises are investing heavily in cybersecurity to protect their digital assets. The market is also being influenced by the remote work trend and the increasing use of E-commerce Platforms. Overall, the Information Security market is a dynamic and evolving landscape, with new threats and technologies constantly emerging. Staying informed and adopting the latest cybersecurity solutions is crucial to ensure data security and protect against cybercrime.
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Market Scope |
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Report Coverage |
Details |
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Page number |
182 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 21.49% |
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Market Growth 2024-2028 |
USD 377.1 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
17.42 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 45% |
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Key countries |
US, China, UK, Germany, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., CrowdStrike Inc., Dell Technologies Inc., Fortinet Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Juniper Networks Inc., LogRhythm Inc., McAfee LLC, Optiv Security Inc., Palo Alto Networks Inc., RSA Security LLC, Securonix Inc., SonicWall Inc., TIBCO Software Inc., Trend Micro Inc., and VeraCore Software Solutions Inc. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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