Covid-19 Impact On Cybersecurity Market

Market Leaders - Covid-19 Impact On Cybersecurity Market

The global impact of COVID-19 on cybersecurity market size is expected to grow from USD 183.2 billion in 2019 to USD 230 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 12% during the forecast period. The market growth can be attributed to increasing focus on cybersecurity-driven business continuity plans to provide optimized security to customer data and operations that are being handled by the companies. Increasing focus on cybersecurity as a key business imperative and not just as a support function is expected to further drive the market with a higher wallet share for security policies and infrastructure.

Major vendors in the global cybersecurity market include Acunetix (Malta), ABB (Switzerland), Airbus (France), Belden (US), Baker Hughes (US), Microsoft (US), CrowdStrike (US), Symantec (US), TrendMicro (Japan), Sophos (UK), McAfee (US), Kaspersky (Russia), K7 Computing (India), ESET (Slovakia), Cisco (US), FireEye (US), F-Secure (Finland), Palo Alto Networks (US), Check Point Software (Israel), Fortinet (US), CyberArk (US), Cyberbit (Israel), Checkmarx (Israel), Rockwell Automation (US), CloudFlare (US), Vercaode (US), Pradeo (France), Rapid7 (US), Synopsys (US), Trustwave (US), WhiteHat Security (US), ImmuniWeb (High-Tech Bridge SA) (Switzerland), Contrast Security (US), Qualys (US), SiteLock (US), Sophos (UK), IBM (US), Imperva (US), CipherCloud Inc. (US), ZScalar Inc. (US), Avanan Inc. (US), Oracle (US), Thales (France), Micro Focus (UK), Fortinet (US), Imperva (US), Citrix (US), Juniper Networks (US), Akamai (US), Avaya (US), DXC Technology (US), Nokia (Finland), and Zscaler (US). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to strengthen their presence in the cybersecurity market.

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Microsoft donated USD one million to Puget Sound’s COVID-19 Response Fund. Microsoft is working with various healthcare organizations to safeguard them from evolving ransomware threats during the COVID-19 crisis. The company has launched the Healthcare Bot service. Microsoft continues to work with its customers, partners, and the research community to keep track of human-operated ransomware and other cyber threats, which the attackers are using to take advantage of this ongoing pandemic situation. The healthcare bot service by Microsoft helps screen people to find out for any potential infection and provide medical care for the same. This also fields one million messages to the members about the pandemic. This, in turn, would minimize the spread of the infection and save hospital infrastructure as well.

In March 2020, IBM offered the Weather Channel app, weather.com, and an online dashboard to help its customers. The tools, which run on the IBM public cloud, use IBM Watson to access and analyze data from WHO and multiple national, state, and local governments. This data will be more localized than some other resources currently available – drilling down to the county level in the US, where possible. IBM Security aims to offer critical technologies virtually, such as threat intelligence information and best practices for the remote workforce for free. IBM also intends to provide IBM Security MaaS360 with Watson and IBM Cloud Identity at no charge for new clients for 90-days. The company also plans to provide professional security services for helping companies to strategize their operations. The other extended support amid COVID-19 pandemic crisis includes the following:

  • No-charge access to X-Force IRIS COVID-19 Threat Intelligence Collection
  • 90-day public access to X-Force IRIS COVID-19 Threat Intelligence Enclave, by TruStar

IBM Research actively developed new cloud and AI-powered technologies to help researchers across a variety of scientific disciplines accelerate the process of discovery. The company offers multiple novels, free resources to help healthcare researchers, doctors, and scientists around the world to accelerate COVID-19 drug discovery. These resources include gathering insights, identifying potential targets for treatments, and creating new drug molecule candidates.

Related Reports:

Covid-19 Impact On Cybersecurity Market by Technology (Network Security, Application Security, Endpoint Security, Cloud Security, Database Security, Web Security, ICS Security), Vertical, Region - Global Forecast to 2021

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Report Code
TC 7599
RI Published ON
4/23/2020
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