Cybersecurity Market – Technological Advancement and Growth Analysis with Forecast to 2026 | #exploits | #vulnverabilities


The global cybersecurity market has established itself as tremendously lucrative investment avenue in recent years due to the increasing demand for security solutions across several enterprises throughout the world. Several industries and firms spread across the globe are adopting cybersecurity solutions to safeguard their online financial transactions as well as highly sensitive data from cyberattacks, unauthorized access, and other vulnerabilities.

The cybersecurity market size in Europe is expected to grow at a CAGR of over 15% by 2026. The enterprises operating in banking sectors are adopting advanced cybersecurity solutions. The government enterprises and private corporates have reported increasing cyberattacks. Moreover, government authorities and private enterprises are making collaborative efforts to prevent such vulnerabilities. For instance, in February 2020, European Central Bank collaborated with the members of Euro Cyber Resilience Board. They launched the Cyber Information and Intelligence Sharing Initiative. The initiative focuses on detecting and averting cyberattacks and improves cybersecurity across financial institutions.

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The cybersecurity market is expected to grow substantially in the coming years due to the increasing digitalization and growing frequency of cyberattacks. Cybersecurity is generally the practice of protecting programs, systems, and networks from various digital attacks. These digital attacks or cyberattacks are basically focused at either destroying, accessing & stealing, and changing sensitive information, or interrupting the normal business processes, or generating money by fraud means from users.

Cybersecurity market is segmented in terms of product, organization type, industry, and regional landscape. Based on product, the cybersecurity market is bifurcated into IAAM, infrastructure protection, network security, and security services. The infrastructure protection segment is further classified into vulnerability assessment, endpoint protection, SIEM, DLP, email/web gateway, and cloud security.

Email/web gateway segment is likely to observe a CAGR of around 15% through 2026 due to increasing incidents of phishing e-mails. SIEM segment will witness a CAGR of over 15% through 2026 for providing real time event updates and threat alerts.

Vulnerability assessment segment held a market share of over 20% in 2019 as it prioritizes and prevents any network/endpoint vulnerabilities. DLP will grow with a 17% CAGR through 2026 as it prevents the loss of valuable personal and enterprise data.

The network security segment is further categorized into UTM, ISP equipment, firewall, and VPN. The ISP equipment held a cybersecurity market share of over 50% in 2019 due to growing need of cybersecurity for securing IT infrastructure of ISPs. The VPN segment will observe a CAGR of around 20% through 2026 due to increasing stress on privacy and work from home trends.

The UTM segment will witness a growth rate of 20% through 2026 due to robust threat management capabilities. The firewall segment is likely to witness a cybersecurity market share of over 20% in 2026 due to increasing use of firewalls for policy-based access.

The security services segment is further bifurcated into managed security services, hardware support, implementation, and consulting & training. The consulting & training segment will witness a CAGR of around 15% through 2026 due to rising deployment of such services by SMEs without in-house IT staff. The hardware support segment held a market share of over 20% in 2019 due to increasing complexities in cybersecurity related hardware.

With respect to industry, the cybersecurity market is segmented into securities, manufacturing, banking, IT & telecom, government, and transportation. The government sector held over 20% market share in 2019 due to increasing financial frauds on government digital assets. The transportation industry is likely to witness a CAGR of around 12% through 2026 due to growing demand of IT security in connected vehicles.

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Companies operating in the industry are focusing on collaborative developments of innovative security solutions. For instance, in January 2019, Ernst & Young collaborated with IBM Corporation to provide cybersecurity solutions as managed services to customers. It leveraged IBM’s QRadar platform to develop advanced threat detection capabilities. This helped the company to offer advanced security services to its customers.

Table of Contents (ToC) of the report:

Chapter 5.   Cybersecurity Market, By Product Type

5.1.  Key trends, by product type

5.2.  Identification, Authentication and Access Management (IAAM)

5.2.1. Market estimates and forecast, 2015 – 2026

5.2.2. Access management

5.2.2.1.    Market estimates and forecast, 2015 – 2026

5.2.3. Identity access management

5.2.3.1.    Market estimates and forecast, 2015 – 2026

5.3.  Infrastruture protection

5.3.1. Market estimates and forecast, 2015 – 2026

5.3.2. Endpoint protection

5.3.2.1.    Market estimates and forecast, 2015 – 2026

5.3.3. Email/web gateway

5.3.3.1.    Market estimates and forecast, 2015 – 2026

5.3.4. Security Information and Event Management (SIEM)

5.3.4.1.    Market estimates and forecast, 2015 – 2026

5.3.5. Vulnerability management

5.3.5.1.    Market estimates and forecast, 2015 – 2026

5.3.6. Cloud security

5.3.6.1.    Market estimates and forecast, 2015 – 2026

5.3.7. Data Loss Prevention (DLP)

5.3.7.1.    Market estimates and forecast, 2015 – 2026

5.3.8. Others

5.3.8.1.    Market estimates and forecast, 2015 – 2026

5.4.  Network Security

5.4.1. Market estimates and forecast, 2015 – 2026

5.4.2. Internet sevice providers equipment

5.4.2.1.    Market estimates and forecast, 2015 – 2026

5.4.3. Virtual Private Network (VPN)

5.4.3.1.    Market estimates and forecast, 2015 – 2026

5.4.4. Unified Threat Management (UTM)

5.4.4.1.    Market estimates and forecast, 2015 – 2026

5.4.5. Firewall

5.4.5.1.    Market estimates and forecast, 2015 – 2026

5.5.  Security services

5.5.1. Market estimates and forecast, 2015 – 2026

5.5.2. Implementation

5.5.2.1.    Market estimates and forecast, 2015 – 2026

5.5.3. Managed security service/IT outsourcing

5.5.3.1.    Market estimates and forecast, 2015 – 2026

5.5.4. Consulting and training

5.5.4.1.    Market estimates and forecast, 2015 – 2026

5.5.5. Hardware support

5.5.5.1.    Market estimates and forecast, 2015 – 2026

5.5.6. Others

5.5.6.1.    Market estimates and forecast, 2015 – 2026

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