HOME Top Market Reports Cybersecurity Market by Solution (IAM, Encryption, DLP, UTM, Antivirus/Anti-Malware, Firewall, IDS/IPS, Disaster Recovery, DDOS Mitigation, SIEM), Service, Security Type, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2022

Cybersecurity Market by Solution (IAM, Encryption, DLP, UTM, Antivirus/Anti-Malware, Firewall, IDS/IPS, Disaster Recovery, DDOS Mitigation, SIEM), Service, Security Type, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: July 2017
Report Code: TC 3485

 

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The cybersecurity market size is expected to grow from USD 137.85 Billion in 2017 to USD 231.94 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. For this report, 2016 is considered to be the base year, while the forecast period is 2017–2022.

The objective of the report is to define, describe, and forecast the cybersecurity market on the basis of components (solutions and services), security types, deployment modes, organization sizes, verticals, and regions, and also to provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).

The research methodology used to estimate and forecast the cybersecurity market begins with capturing data on key vendor’s revenues through secondary sources, such as company websites, press releases, annual reports, TechTarget reports, Cloud Security Alliance reports, SC magazine, and SANS Institute studies. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global cybersecurity market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, industry experts, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of primary profiles is depicted in the figure below:

Cybersecurity Market

To know about the assumptions considered for the study, download the pdf brochure

The cybersecurity ecosystem comprises cybersecurity vendors, such as IBM Corporation (US), Hewlett Packard Enterprise (US), McAfee LLC (US), Trend Micro, Inc. (Japan), Symantec Corporation (US), Check Point Software Technologies Ltd. (Israel), Cisco Systems, Inc. (US), Palo Alto Networks, Inc. (US), Juniper Networks, Inc. (US), Fortinet, Inc. (US), FireEye, Inc. (US), Sophos Ltd. (UK), Rapid7, Inc. (US), EMC RSA (US), LogRhythm, Inc. (US), Optiv Security Inc. (US), Webroot, Inc. (US), CyberArk Software Ltd. (US), Qualys, Inc. (US), F-Secure (Finland), Trustwave Holdings, Inc. (US), Proofpoint, Inc. (US), Splunk, Inc. (US), Kaspersky Lab (Russia), and Imperva, Inc. (US); service providers; system integrators; and enterprises. Other stakeholders of the cybersecurity market include security service providers, consulting service providers, IT service providers, resellers, enterprise users, and technology providers.

The target audiences of the cybersecurity market report are given below:

  • Government agencies
  • Cybersecurity vendors
  • Network solution providers
  • Independent software vendors
  • Consulting firms
  • System integrators
  • Value-added resellers
  • IT security agencies
  • Managed Security Service Providers (MSSPs)

“The study answers several questions for the stakeholders, primarily, which market segments to focus in the next 2–5 years for prioritizing the efforts and investments.”

Scope of the Report

The research report categorizes the cybersecurity market to forecast the revenues and analyze the trends in each of the following subsegments:

By Solution

  • Identity and Access Management (IAM)
  • Risk and compliance management
  • Encryption
  • Data Loss Prevention (DLP)
  • Unified Threat Management (UTM)
  • Firewall
  • Antivirus/anti-malware
  • Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
  • Security and vulnerability management
  • Disaster recovery
  • Distributed Denial of Service (DDoS) mitigation
  • Security Information and Event Management (SIEM)
  • Others (web filtering, application whitelisting, and patch management)

By Service

  • Managed services
  • Professional services
    • Consulting
    • Training and education
    • Support and maintenance
    • Design and integration
    • Risk and threat assessment

By Security Type

  • Network security
  • Endpoint security
  • Application security
  • Cloud security
  • Wireless security
  • Others (database security and web security)

By Deployment Mode

  • Cloud
  • On-premises

By Organization Size

  • Small and Medium-sized Enterprises (SMEs)
  • Large enterprises

By Vertical

  • Aerospace and defense
  • Government
  • Banking, Financial Services, and Insurance (BFSI)
  • IT and telecom
  • Healthcare
  • Retail
  • Manufacturing
  • Energy and utilities
  • Others (education, media and entertainment, and automotive)

By Region

  • North America
  • Europe
  • Middle East and Africa (MEA)
  • Asia Pacific (APAC)
  • Latin America

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Geographic Analysis

  • Further breakdown of the North American cybersecurity market
  • Further breakdown of the European market
  • Further breakdown of the APAC market
  • Further breakdown of the MEA market
  • Further breakdown of the Latin American market

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primary Interviews
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Microquadrant Research Methodology
           2.3.1 Vendor Inclusion Criteria
    2.4 Research Assumptions and Limitations
           2.4.1 Limitations

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Market Opportunities in the Cybersecurity Market
    4.2 Cybersecurity Market, By Component, 2017–2022
    4.3 Cybersecurity Market, By Solution, 2017–2022
    4.4 Cybersecurity Market, By Service, 2017–2022
    4.5 Cybersecurity Market, By Security Type, 2017–2022
    4.6 Cybersecurity Market, By Deployment Mode, 2017–2022
    4.7 Cybersecurity Market, By Organization Size, 2017–2022
    4.8 Cybersecurity Market, By Vertical, 2017–2022
    4.9 Lifecycle Analysis, By Region

5 Market Overview and Industry Trends (Page No. - 35)
    5.1 Regulatory Implications
           5.1.1 Payment Card Industry Data Security Standard (PCI–DSS)
           5.1.2 Health Insurance Portability and Accountability Act (HIPAA)
           5.1.3 Federal Information Security Management Act (FISMA)
           5.1.4 Gramm-Leach-Bliley Act (GLB Act)
           5.1.5 Sarbanes-Oxley Act (SOX)
           5.1.6 The International Organization for Standardization (ISO) Standard 27001
    5.2 Innovation Spotlight
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Strict Directives for Data Privacy
                    5.3.1.2 Emergence of IoT and Byod Across Verticals
                    5.3.1.3 Increasing Threat Landscape Due to Third-Party Application Deployment
                    5.3.1.4 Constantly Increasing Cyber Terrorism
           5.3.2 Restraints
                    5.3.2.1 Use of Pirated Cybersecurity Solutions
                    5.3.2.2 Limited Security Budgets
           5.3.3 Opportunities
                    5.3.3.1 Continuous Growth in the Adoption of Cloud-Based Applications and Services
                    5.3.3.2 Increased Use of Social Media for Business Functions
           5.3.4 Challenges
                    5.3.4.1 Rapidly Increasing Insider Cyber Threats
                    5.3.4.2 Lack of Competent Security Professionals

6 Cybersecurity Market Analysis, By Component (Page No. - 44)
    6.1 Introduction
    6.2 Solutions
    6.3 Services

7 Cybersecurity Market Analysis, By Solution (Page No. - 48)
    7.1 Introduction
    7.2 Identity and Access Management
    7.3 Risk and Compliance Management
    7.4 Encryption
    7.5 Data Loss Prevention
    7.6 Unified Threat Management
    7.7 Firewall
    7.8 Antivirus/Anti-Malware
    7.9 Intrusion Detection System/Intrusion Prevention System
    7.10 Security and Vulnerability Management
    7.11 Disaster Recovery
    7.12 Distributed Denial of Service Mitigation
    7.13 Security Information and Event Management
    7.14 Others

8 Cybersecurity Market Analysis, By Service (Page No. - 62)
    8.1 Introduction
    8.2 Managed Services
    8.3 Professional Services
           8.3.1 Consulting
           8.3.2 Training and Education
           8.3.3 Support and Maintenance
           8.3.4 Design and Integration
           8.3.5 Risk and Threat Assessment

9 Cybersecurity Market Analysis, By Security Type (Page No. - 70)
    9.1 Introduction
    9.2 Network Security
    9.3 Endpoint Security
    9.4 Application Security
    9.5 Cloud Security
    9.6 Wireless Security
    9.7 Others

10 Cybersecurity Market Analysis, By Deployment Mode (Page No. - 78)
     10.1 Introduction
     10.2 Cloud
     10.3 On-Premises

11 Cybersecurity Market Analysis, By Organization Size (Page No. - 82)
     11.1 Introduction
     11.2 Small and Medium-Sized Enterprises
     11.3 Large Enterprises

12 Cybersecurity Market Analysis, By Vertical (Page No. - 86)
     12.1 Introduction
     12.2 Aerospace and Defense
     12.3 Government
     12.4 Banking, Financial Services, and Insurance
     12.5 IT and Telecom
     12.6 Healthcare
     12.7 Retail
     12.8 Manufacturing
     12.9 Energy and Utilities
     12.10 Others

13 Geographic Analysis (Page No. - 96)
     13.1 Introduction
     13.2 North America
     13.3 Europe
     13.4 Asia Pacific
     13.5 Middle East and Africa
     13.6 Latin America

14 Competitive Landscape (Page No. - 122)
     14.1 Mircroquadrant Overview
             14.1.1 Visionary Leaders
             14.1.2 Innovators
             14.1.3 Dynamic Differentiators
             14.1.4 Emerging Companies
     14.2 Competitive Benchmarking
             14.2.1 Strength of Product Portfolio in the Cybersecurity Market
             14.2.2 Business Strategy Excellence Adopted in the Cybersecurity Market

15 Company Profiles (Page No. - 126)
     15.1 IBM
(Business Overview, Strength of Product Portfolio, Business Strategy Excellence, and Recent Developments)*
     15.2 HPE
     15.3 McAfee
     15.4 Trend Micro
     15.5 Symantec
     15.6 Check Point Software Technologies
     15.7 Cisco Systems
     15.8 Palo Alto Networks
     15.9 Juniper Networks
     15.10 Fortinet
     15.11 Fireeye
     15.12 Sophos
*Details on Business Overview, Strength of Product Portfolio, Business Strategy Excellence, and Recent Developments Might Not Be Captured in Case of Unlisted Companies.
     15.13 Key Innovators
             15.13.1 Pradeo Security Systems
             15.13.2 Whitehat Security
             15.13.3 Appthority
             15.13.4 Sitelock

16 Appendix (Page No. - 169)
     16.1 Discussion Guide
     16.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.3 Introducing RT: Real-Time Market Intelligence
     16.4 Available Customizations
     16.5 Related Reports
     16.6 Author Details


List of Tables (94 Tables)

Table 1 United States Dollar Exchange Rate, 2014–2016
Table 2 Evaluation Criteria
Table 3 Cybersecurity Market Size and Growth Rate, 2015–2022 (USD Billion, Y-O-Y %)
Table 4 Innovation Spotlight: Latest Cybersecurity Innovations
Table 5 Cybersecurity Market Size, By Component, 2015–2022 (USD Billion)
Table 6 Solutions: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 7 Services: Market Size, By Region, 2015–2022 (USD Billion)
Table 8 Cybersecurity Market Size, By Solution, 2015–2022 (USD Billion)
Table 9 Identity and Access Management: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 10 Risk and Compliance Management: Market Size, By Region, 2015–2022 (USD Billion)
Table 11 Encryption: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 12 Data Loss Prevention: Market Size, By Region, 2015–2022 (USD Billion)
Table 13 Unified Threat Management: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 14 Firewall: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 15 Antivirus/Anti-Malware: Market Size, By Region, 2015–2022 (USD Billion)
Table 16 Intrusion Detection System/Intrusion Prevention System: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 17 Security and Vulnerability Management: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 18 Disaster Recovery: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 19 Distributed Denial of Service Mitigation: Market Size, By Region, 2015–2022 (USD Billion)
Table 20 Security Information and Event Management: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 21 Others: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 22 Cybersecurity Market Size, By Service, 2015–2022 (USD Billion)
Table 23 Managed Services: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 24 Professional Services: Market Size, By Region, 2015–2022 (USD Billion)
Table 25 Professional Services: Cybersecurity Market Size, By Type, 2015–2022 (USD Billion)
Table 26 Consulting: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 27 Training and Education: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 28 Support and Maintenance: Market Size, By Region, 2015–2022 (USD Billion)
Table 29 Design and Integration: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 30 Risk and Threat Assessment: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 31 Cybersecurity Market Size, By Security Type, 2015–2022 (USD Billion)
Table 32 Network Security: Market Size, By Region, 2015–2022 (USD Billion)
Table 33 Endpoint Security: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 34 Application Security: Market Size, By Region, 2015–2022 (USD Billion)
Table 35 Cloud Security: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 36 Wireless Security: Market Size, By Region, 2015–2022 (USD Billion)
Table 37 Others: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 38 Cybersecurity Market Size, By Deployment Mode, 2015–2022 (USD Billion)
Table 39 Cloud: Market Size, By Region, 2015–2022 (USD Billion)
Table 40 On-Premises: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 41 Cybersecurity Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 42 Small and Medium-Sized Enterprises: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 43 Large Enterprises: Market Size, By Region, 2015–2022 (USD Billion)
Table 44 Cybersecurity Market Size, By Vertical, 2015–2022 (USD Billion)
Table 45 Aerospace and Defense: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 46 Government: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 47 Banking, Financial Services, and Insurance: Market Size, By Region, 2015–2022 (USD Billion)
Table 48 IT and Telecom: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 49 Healthcare: Market Size, By Region, 2015–2022 (USD Billion)
Table 50 Retail: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 51 Manufacturing: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 52 Energy and Utilities:  Market Size, By Region, 2015–2022 (USD Billion)
Table 53 Others: Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 54 Cybersecurity Market Size, By Region, 2015–2022 (USD Billion)
Table 55 North America: Cybersecurity Market Size, By Component, 2015–2022 (USD Billion)
Table 56 North America: Market Size, By Solution, 2015–2022 (USD Billion)
Table 57 North America: Market Size, By Service, 2015–2022 (USD Billion)
Table 58 North America: Market Size, By Professional Service, 2015–2022 (USD Billion)
Table 59 North America: Market Size, By Security Type, 2015–2022 (USD Billion)
Table 60 North America: Market Size, By Deployment Mode, 2015–2022 (USD Billion)
Table 61 North America: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 62 North America: Market Size, By Vertical, 2015–2022 (USD Billion)
Table 63 Europe: Cybersecurity Market Size, By Component, 2015–2022 (USD Billion)
Table 64 Europe: Market Size, By Solution, 2015–2022 (USD Billion)
Table 65 Europe: Market Size, By Service, 2015–2022 (USD Billion)
Table 66 Europe: Market Size, By Professional Service, 2015–2022 (USD Billion)
Table 67 Europe: Market Size, By Security Type, 2015–2022 (USD Billion)
Table 68 Europe: Market Size, By Deployment Mode, 2015–2022 (USD Billion)
Table 69 Europe: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 70 Europe: Market Size, By Vertical, 2015–2022 (USD Billion)
Table 71 Asia Pacific: Cybersecurity Market Size, By Component, 2015–2022 (USD Billion)
Table 72 Asia Pacific: Market Size, By Solution, 2015–2022 (USD Billion)
Table 73 Asia Pacific: Market Size, By Service, 2015–2022 (USD Billion)
Table 74 Asia Pacific: Market Size, By Professional Service, 2015–2022 (USD Billion)
Table 75 Asia Pacific: Market Size, By Security Type, 2015–2022 (USD Billion)
Table 76 Asia Pacific: Market Size, By Deployment Mode, 2015–2022 (USD Billion)
Table 77 Asia Pacific: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 78 Asia Pacific: Market Size, By Vertical, 2015–2022 (USD Billion)
Table 79 Middle East and Africa: Cybersecurity Market Size, By Component, 2015–2022 (USD Billion)
Table 80 Middle East and Africa: Market Size, By Solution, 2015–2022 (USD Billion)
Table 81 Middle East and Africa: Market Size, By Service, 2015–2022 (USD Billion)
Table 82 Middle East and Africa: Market Size, By Professional Service, 2015–2022 (USD Billion)
Table 83 Middle East and Africa: Market Size, By Security Type, 2015–2022 (USD Billion)
Table 84 Middle East and Africa: Market Size, By Deployment Mode, 2015–2022 (USD Billion)
Table 85 Middle East and Africa: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 86 Middle East and Africa: Market Size, By Vertical, 2015–2022 (USD Billion)
Table 87 Latin America: Cybersecurity Market Size, By Component, 2015–2022 (USD Billion)
Table 88 Latin America: Market Size, By Solution, 2015–2022 (USD Billion)
Table 89 Latin America: Market Size, By Service, 2015–2022 (USD Billion)
Table 90 Latin America: Market Size, By Professional Service, 2015–2022 (USD Billion)
Table 91 Latin America: Market Size, By Security Type, 2015–2022 (USD Billion)
Table 92 Latin America: Market Size, By Deployment Mode, 2015–2022 (USD Billion)
Table 93 Latin America: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 94 Latin America: Market Size, By Vertical, 2015–2022 (USD Billion)


List of Figures (46 Figures)

Figure 1 Global Cybersecurity Market: Market Segmentation
Figure 2 Global Cybersecurity Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Cybersecurity Market: Assumptions
Figure 8 North America is Estimated to Hold the Largest Market Share in 2017
Figure 9 Fastest-Growing Segments of the Cybersecurity Market
Figure 10 Rise in Security Insider and Outsider Threats Targeting Enterprises is Expected to Boost the Cybersecurity Market
Figure 11 Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 12 Encryption Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 13 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 14 Application Security Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 15 Cloud Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 16 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 17 Banking, Financial Services, and Insurance Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 18 The Cybersecurity Market has Immense Opportunities for Growth in Asia Pacific
Figure 19 Cybersecurity Market: Drivers, Restraints, Opportunities, and Challenges
Figure 20 Motivations Behind Attacks, 2016
Figure 21 Percentage of Spams in Emails, By Vertical, 2016
Figure 22 Top Verticals Filtered for Incidents Caused By Hacking and Insider Theft
Figure 23 Shortage of Security Professionals Results in Infrastructure Damages
Figure 24 Services Segment to Grow at A Higher CAGR During the Forecast Period
Figure 25 Encryption Segment to Grow at the Highest CAGR During the Forecast Period
Figure 26 Managed Services Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 27 Application Security Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 28 Cloud-Based Deployment Mode is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 29 Small and Medium Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 30 Banking, Financial Services, and Insurance Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 31 Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 32 Regional Snapshot: Asia Pacific is the Emerging Region in the Cybersecurity Market
Figure 33 North America Market Snapshot
Figure 34 Asia Pacific Market Snapshot
Figure 35 Cybersecurity Market Competitive Leadership Mapping, 2017
Figure 36 IBM: Company Snapshot
Figure 37 HPE: Company Snapshot
Figure 38 Trend Micro: Company Snapshot
Figure 39 Symantec: Company Snapshot
Figure 40 Check Point Software Technologies: Company Snapshot
Figure 41 Cisco Systems: Company Snapshot
Figure 42 Palo Alto Networks: Company Snapshot
Figure 43 Juniper Networks: Company Snapshot
Figure 44 Fortinet: Company Snapshot
Figure 45 Fireeye: Company Snapshot
Figure 46 Sophos: Company Snapshot

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The cybersecurity market size is expected to grow from USD 137.85 Billion in 2017 to USD 231.94 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. The major growth drivers of the cybersecurity market include the rise in security breaches targeting enterprises, and strict directives for data privacy.

The cybersecurity market is segmented by component (solutions and services), security type, deployment mode, organization size, vertical, and region. The managed services segment is expected to grow at the highest CAGR during the forecast period, and is projected to witness the highest demand due to the growing need of organizations to comply with different regulatory compliances across the globe.

Major security types in cybersecurity are network security, endpoint security, application security, cloud security, wireless security, and others (database security and web security). The application security segment is expected to grow at the highest CAGR during the forecast period because of the emergence of Internet of Things (IoT) and Bring Your Own Device (BYOD) across verticals.

The network security segment is estimated to have the largest share of the cybersecurity market in 2017. The growth is fueled by the growing number of insider cyber threats. The Banking, Financial Services, and Insurance (BFSI) vertical is expected to grow at the highest CAGR during the forecast period due to the increasing emergence of IoT and BYOD across verticals. Organizations are rapidly deploying cybersecurity solutions, either on-premises or on-cloud. The demand for cloud-based cybersecurity solutions is increasing due to cost-effective and time-efficient features of cloud; its growth is specifically high in enterprises, where low cost solutions are much required.

The global market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America to provide a region-specific analysis in the report. The North American region, followed by Europe, is estimated to become the largest revenue-generating region for cybersecurity vendors in 2017. This is mainly because in the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D), and technology. The APAC region is expected to be the fastest-growing region in the cybersecurity market. The growth in this region is primarily driven by the growing adoption of web and mobile-based business applications.

Cybersecurity Market

The cybersecurity market faces challenges, such as lack of awareness about advanced cyber threats. Factors such as high cost of innovation and budget constraints limit the market growth.

Major vendors that offer cybersecurity solutions across the globe are IBM Corporation (US), Hewlett Packard Enterprise (US), McAfee LLC (US), Trend Micro, Inc. (Japan), Symantec Corporation (US), Check Point Software Technologies Ltd. (Israel), Cisco Systems, Inc. (US), Palo Alto Networks, Inc. (US), Juniper Networks, Inc. (US), Fortinet, Inc. (US), FireEye, Inc. (US), Sophos Ltd. (UK), Rapid7, Inc. (US), EMC RSA (US), LogRhythm, Inc. (US), Optiv Security Inc. (US), Webroot, Inc. (US), CyberArk Software Ltd. (US), Qualys, Inc. (US), F-Secure (Finland), Trustwave Holdings, Inc. (US), Proofpoint, Inc. (US), Splunk, Inc. (US), Kaspersky Lab (Russia), and Imperva, Inc. (US). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions to expand their offerings in the cybersecurity market.

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