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Cyber Security Market

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North America accounted for the largest market share in 2016 in the global cyber security market. This is due to rising cyber-attacks in this region. U.S. accounted for the major market in the region
Cyber Security Market, Security Type and
Organization Size - Global Industry Insights,
Trends and Outlook, 2017-2025
Cyber security are security solutions for controlling access to hardware, software, and data, along
with protecting them from cyber-attacks and damage that may be caused through Internet, data
and code injection. Cyber security permits organizations to protect their data and infrastructure
from cyber-attacks by providing solutions, including incident management, Unified Threat
Management (UTM), risk and compliance management, and Identity and Access Management
(IAM).
Demand for cyber security solutions is increasing significantly due to rising cyber-attacks. For
instance, according to Coherent Market Insights analysis, as of July 2017, cybercrime jumped to
84.1% from 68.8% recorded in June. Cyber Espionage slides to 10.1% from 15.6% of June
whereas Cyber Warfare plummets to 4.3% from 9.4%. Banking and financial sector is the major
sector in cyber security market. This is used for protecting private information of data or cash
related to their customers. This confidential data is highly susceptible to cyber-threats. Increasing
utilization of mobile devices and rising dependability on Internet of consumers are expected to
escalate the overall market growth. For instance, according to Coherent Market Insights analysis,
as of 2016 over 68% of global population are already using mobile phones. In addition to that,
industries including banking, finance and insurance, government and military, and retail and
manufacturing is another factor for growth of the market. The data stored on cloud or
on-premises is vulnerable to cyber-attacks by various software such as Trojan horses and viruses,
which consequently increases the requirement of cyber security solutions
Request Table of Content of this Report :
https://www.coherentmarketinsights.com/ongoing-insight/toc/1119
Banking, Financial Services and Insurance segment is expected to be the largest segment in
the market by 2025
The banking and finance sector is witnessing significant changes due to adoption of IT solutions
for improvement of banking services. Proliferation in online transactions and increasing use of
services such as NEFT (National Electronic Fund Transfer), RTGS (Real-time Gross Settlement
Systems), ECS (Electronic Clearing Service) as well as mobile transactions, has led to demand
for solutions that aid in carrying out these tractions safely and securely. This is due to the fact
that online transactions are vulnerable to hacking. Moreover, increasing number of payment
gateways, e-Commerce websites, and mobile application that accept online transactions and store
credit card and debit card information are also susceptible to hacking. According to the Reserve
Bank of India (RBI), for the year 2015–2016, 16,468 frauds were reported associated with ATM,
debit card, credit card, and net banking. In 2014–2015 the number of frauds were 13,083 and
9,500 in the year 2013–14, reported by RBI. Due to these instances, banking and finance
industry is increasingly demanding such cyber security solutions.
Cyber Security Market Taxonomy
On the basis of component, the global cyber security market is segmented into:
● Services
● Solutions
On the basis of security type, the global cyber security market is segmented into:
● Network Security
● Application Security
● Cloud Security
● End-Point Security
● Wireless Security
On the basis of deployment mode, the global cyber security market is segmented into:
● Cloud
● On-Premises
On the basis of organization size, the global cyber security market is segmented into:
● Small and Medium-Sized Enterprises
● Large Enterprises
On the basis of end-user industry, the global cyber security market is segmented into:
● Aerospace and Defense
● Government
● Banking, Financial Services, and Insurance
● IT and Telecom
● Healthcare
● Retail and Manufacturing
● Energy and Utilities
North America accounted for the largest market share in 2016 in the global cyber security
market
The global market has been segmented on the basis of regions into North America, Europe,
Asia-Pacific, Latin America, and Middle East and Africa. North America is estimated to account
for the largest market share in global cyber security market in 2017. This is due to rising
cyber-attacks in this region. U.S. accounted for the major market in the region, owing to constant
cyber-attacks on industries such as healthcare, banking and financial, and retail and
manufacturing. For instance, according to the Internet Crime Complaint Center (IC3), in 2016,
cybercrimes were valued at over US$1.33 billion globally, in which, California witnessed the
highest recorded loss with over US$ 255 million. Additionally, in 2016, about 28% of web
application attacks were recorded in the U.S. followed by the Netherlands and Germany.
Major players operating in the global cyber security market are International Business Machine
(IBM) Corporation, Dell EMC, Hewlett Packard Enterprise (HPE), Intel Corporation, Sophos,
Symantec Corporation, McAfee, FireEye Incorporated, Cisco Systems, and Trend Micro
Incorporated.
For More Information :
https://www.coherentmarketinsights.com/ongoing-insight/cyber-security-market-1119
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering
action-ready syndicated research reports, custom market analysis, consulting services, and
competitive analysis through various recommendations related to emerging market trends,
technologies, and potential absolute dollar opportunity.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email:​ ​[email protected]
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Author
Sagar Gawade
Sagar Gawade44   documents Email
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