Cybersecurity Market Report, Segments, Industry Growth, Size, Share, Forecast 2024-2032

The latest report published by IMARC Group, titled “Cybersecurity Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on cybersecurity market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global cybersecurity market size reached US$ 274.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 622.6 Billion by 2032, exhibiting a growth rate (CAGR) of 9.3% during 2024-2032.

Cybersecurity refers to the practice and techniques employed to protect computers, networks, programs, and data from unauthorized access, attacks, damage, or theft. It's a critical field in the digital age, essential for safeguarding personal, corporate, and government information systems against an ever-evolving array of cyber threats. These threats include viruses, malware, ransomware, phishing attacks, and advanced persistent threats, which can result in significant financial losses, damage to reputation, and compromise of sensitive data. The realm of cybersecurity is vast, encompassing a variety of strategies, tools, and practices. It involves the implementation of security measures such as firewalls, antivirus software, intrusion detection systems, and encryption protocols. These technologies work in concert to defend against unauthorized access and cyberattacks.

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Market Trends:

The transformative wave of digitalization across various sectors, including finance, healthcare, and retail, is driving the global market. This digital expansion, coupled with the increasing adoption of cloud-based services, Internet of Things (IoT) devices, and remote work models, particularly in the wake of the COVID-19 pandemic, has further complicated the cybersecurity landscape. Organizations are thus investing heavily in cybersecurity measures to safeguard their digital assets and comply with regulatory requirements. Regulatory compliance is another significant driver. Governments and regulatory bodies worldwide are implementing stringent data protection laws and regulations, such as the General Data Protection Regulation (GDPR), mandating businesses to fortify their cybersecurity frameworks. This regulatory push is compelling organizations to continuously evaluate and enhance their cybersecurity postures to avoid hefty fines, legal repercussions, and reputational damage. 

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Accenture PLC
• Broadcom Inc
• Capgemini Service SAS
• Cisco Systems Inc.
• Cognizant Technology Solutions Corporation
• HCL Technologies Ltd.
• Infosys Limited
• International Business Machines Corporation (IBM)
• Lockheed Martin Corporation
• Palo Alto Networks, Inc.
• Tata Consultancy Services Limited
• Tech Mahindra Limited
• Trend Micro Incorporated
• Wipro Limited

Cybersecurity Market Segmentation:

Our report has categorized the market based on region, component, development type, user type, and industry vertical.

Breakup by Component:

• Solutions

  • Identity and Access Management (IAM)
  • Infrastructure Security
  • Governance, Risk and Compliance
  • Unified Vulnerability Management Service Offering
  • Data Security and Privacy Service Offering
  • Others

• Services

  • Professional Services
  • Managed Services

Breakup by Deployment Type:

• Cloud-based
• On-premises

Breakup by User Type:

• Large Enterprises
• Small and Medium Enterprises

Breakup by Industry Vertical:

• IT and Telecom
• Retail
• BFSI
• Healthcare
• Defense/Government
• Manufacturing
• Energy
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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