Global Cyber Security Market Investigation & Development Trends Analyzed till 2025

Albany, USA, 2018-May-16 — /EPR Network/ —Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Global Market Study on Cyber Security: Services Segment Projected to be the Most Attractive Segment by Component During 2017 – 2025” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the Global Cyber Security market have been elaborated upon in the research report.

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The software segment by component is likely to show remarkable revenue growth in the global cyber security market during 2017-2025

The software component segment in the global cyber security market was valued at more than US$ 20 Bn in 2016 and is expected to reach a market valuation in excess of US$ 53 Bn by 2025 end. Revenue generated from the software segment is expected to expand at a CAGR of 11.7% over the forecast period. The software segment in the global cyber security market is expected to create incremental dollar opportunity of more than US$ 31 Bn between 2017 and 2025.

Increasing adoption of cloud computing networks and services expected to fuel the growth of the software segment in the global cyber security market

Increasing usage of cloud-based services for multiple workloads such as email services, data backups, ERP, CRM, and collaboration services is expected to drive the growth of the software segment during the period of assessment. The cost of cloud-based services is comparatively cheaper as these do not require setting up of complex IT infrastructure. However, cloud deployment increases vulnerabilities in software and makes it easily accessible by unauthorized persons. Hence many companies are adopting cyber security solutions to secure their workloads on the cloud without any risks of cyber threat. For instance, in February 2017 IBM Corporation launched Watson for cyber security, which is augmented intelligence technology designed to enhance cognitive security at operation centers.

The rising trend of digitization is creating a potential possibility of new cyber threats, hence prompting enterprises to opt for cyber security solutions in order to ensure that hackers and other unauthorized users are unable to access critical information and data. Digitization has resulted in the emergence of multichannel integration and various other customer interfaces that are vulnerable. Hence, it is vital for enterprises to stay ahead of cyber security threats by protecting information with cyber secure IT infrastructure. As a result of the growing proliferation of digitization, the demand for cyber security solutions is growing at a relatively high rate, thereby driving the growth of the software segment in the global cyber security market.

Enterprises are required to upgrade their health IT infrastructure in preparation for the shift to the Internet of Things and to keep up with increasing adoption of connected medical devices. This technological advancement enables patients and service providers to enable more efficient management and security measures of information and data in the healthcare sector. At the same time, adoption of connected devices opens up avenues and loopholes for hackers to steal data such as patient records and also conceal services being offered by healthcare service providers. As a result of such cyber threats, healthcare organizations adopting connected medical devices also prefer deploying cyber security solutions. This particular factor is boosting the growth of the global cyber security market, and subsequently the revenue growth of the software segment by component.

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CAGR forecast of the software segment by component across the various regional markets

The software segment is expected to register high Year-on-Year growth rates throughout the forecast period in the global market. In terms of value, the software segment is expected to expand at a CAGR of 9.4% during the forecast period in the North America cyber security market. In Latin America, the software segment is anticipated to expand at a CAGR of 12.5% in terms of value during the period of assessment. The software segment in the Asia Pacific cyber security market is anticipated to grow at a CAGR of 9.4% in terms of revenue; while in the MEA cyber security market, the software segment is likely to register a value CAGR of 13.8% over the forecast period.

Research Methodology

This report evaluates the present scenario and the growth prospects of the global cyber security market across various regions globally for the period 2017 – 2025. The analysts have considered 2016 as the base year and have provided data for the trailing 12 months. In order to offer an accurate forecast, the analysts have started by sizing the current market, which forms the basis for how the global cyber security market will grow in the future. Given the characteristics of the market, the analysts have triangulated the outcome of different types of analyses based on the technology trends. In addition, the report not only presents forecasts in terms of CAGR but also analyzes the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the market. As previously highlighted, the global cyber security market is split into a number of segments. All segments are analyzed in terms of basis point share to understand each individual segment’s relative contribution to market growth. This detailed level of information is important for the identification of various key trends governing the global cyber security market.

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