Cyber Security Market 2018 by Global Leaders Analysis: Booz Allen Hamilton, Kaspersky Lab, Fireeye, Cisco Corporation, Mcafee, Fortinet, Computer Science, Symantec

Market Research Future published a research report on “Global Cyber Security Market Research Report- Forecast to 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.

Cyber Security – Summary

Cyber Security is popular by alias like IT security, cyber security or computer security. It is of utmost importance in the present day business world. The instances of cybercrime have gone up in the past few years, which is why this concept has become pivotal for every enterprise. The demand for this form of security has risen dramatically over the last year. Thanks to all of these factors, the global cyber security market is gaining impetus.

In layman terms, the concept of cyber security can be explained as a wall of protection for the computer systems. It safeguards a computer from being damaged or stolen. It can protect the hardware, sensitive data and software of the system. Furthermore, it can also avoid misdirection or interruption of the services that are being provided through the computer.

Cyber security is the need of the hour because in the modern era every industry depends on computer systems and has an online presence i.e. uses internet. Many business owners have started investing in this technology as they want to ensure optimal security for their business in every business. Thus, on the whole it can be concluded that cyber security is a pretty useful and efficient technology with great future potential.

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Market Scenario

At present the business sector is experiencing an all-time high demand for better security measures. Owing to this fact one can confidently assume that the global cyber security market will experience tremendous growth in the upcoming years. It is believed that during the forecast period of 2018-2023, the market will tread forward at an impressive CAGR. Furthermore the market’s revenue is also anticipated to double by the end of this period.
There are many growth drivers that are responsible for the development and success of this market. The upsurge in the rate of cybercrime and advanced hacking tactics happen to be one of the major growth factors for this industry. Another factor that further drives the growth of the market is data protection directives.

Additional factors that work in the favor the market are the higher demand for trends like Bring Your Own Device (BYOD) and Internet Of Things (IoT) and surging deployment of web and cloud-based business applications.

Key Players

The key players in the market of cyber security are- Cisco Corporation, Mcafee Corporation, Fortinet Inc, Trend Micro Inc, Cassidian Cybersecurity Company, Computer Science Corporation, , Booz Allen Hamilton Corporation, Kaspersky Lab, Fireeye inc, Symantec Corporation among others.

Market Segmentation

The worldwide cyber security market has been branched into four main divisions. They can be listed as geographies, solutions, application verticals and services.

Geographically, the market is spread across various regions of the world like North America, Asia Pacific, Europe, Eastern Europe, Middle East & Africa and Rest of the World. Out of these, North America holds the largest share of the market followed by Europe and other regions respectively.
On the basis of solutions, the market has been segregated into content, network, application and endpoint.

On account of application verticals, the industry is trifurcated into manufacturing, telecommunication and BFSI.

Lastly, based on services, the market is fragmented into design, training and consulting.

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Innovations

The global cyber security market has witnessed many innovations over the last few years. But one of the major ones happens to be virtualization. It is a distinct form of security that enables any given enterprise to track and protect data, irrespective of where it has been stored. It could be in the transit or stored on the cloud. This technology can safeguard a physical space as well as enable cyber defense.

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