The cybersecurity market entails of sales of cybersecurity software and connected services. Cybersecurity is a practice of safeguarding the network, computers, mobile devices, hardware, electronic systems, and data from digital or malicious attacks. It is also well-known as electronic information security and the information technology security. Cybersecurity can be classified into categories involving network security, application security, information security, functioning security, and numerous others.
The foremost solutions of cybersecurity are network security, cloud application security, end-point security, safeguard the web gateway, internet security and others. Network security is a set of technologies that safeguards the usability and integrity of a company’s infrastructure by safeguarding a broad range of potential threats from entering or spreading within a network. The software is positioned through cloud and on-premises mode by small and medium enterprise, large enterprise. The several end users involve BFSI, IT and telecommunications, retail, healthcare, government, manufacturing, travel and transportation, energy and utilities, among others.
Increment in the frequency and the sophistication of cyber-attacks is one of the foremost aspects propelling the growth of the antivirus and antimalware market. The increasing requirement for the improved cybersecurity among small and large enterprises is probable to be the foremost triggering aspect for the market during the forthcoming years. The occurrence of the robust cyber-attacks around the globe is gradually growing. The cyber terrorist attack endpoint, networks, data and several other IT infrastructures that leads to massive financial losses to individuals, enterprises and government. This in turn is predicted to accelerate the growth of the cybersecurity market.
On the basis of intrusion detection systems market report, leveraging the machine learning, artificial intelligence and blockchain technologies for the cyber defense is predicted to generate the opportunity for the cybersecurity market. However, the usage of pirated and open source of cybersecurity solutions are predicted to limit the growth of the market.
In terms of region, the global cybersecurity market can be classified into Europe, North America, Middle East & Africa, Asia Pacific and South America. In addition, the North America is predicted to lead the global cyber security market growth forecast, owing to implementation of improved internet security solutions by enterprises. Furthermore, the proficient implementation of internet services and importance of cyberspace in digital world are the foremost aspects growing the growth of the cybersecurity market around the region. Extreme implementation of cybersecurity by numerous industries, and the technological advancements around these industries are some of the other foremost aspects predicted to boost the growth of the market in North America.
The cybersecurity market in Asia Pacific is predicted to garner proficient share owing to growing complexities faced by enterprises in applying network security, coupled with compliance mandates, workforce mobility, and increasing the cyber-attacks. This in turn is projected to propel the growth of the cybersecurity market around the Asia Pacific region.
In addition, the market is enlarging favorably owing to the spike in requirement for cloud-based cyber security solutions. The issues and challenges in cyber security market enlargement is restricted by organizational budget limitation and the complexity of device security. On the other hand, the augment in mobile platforms and applications, the requirement for secure authentication approaches, and the change of the traditional antivirus software segment are predicted to deliver the lucrative prospects for market growth throughout the forecasted duration.
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Ankur Gupta, Head Marketing & Communications