Cyber Security Market Research Report by Forecast to 2023
Pune, India -- (SBWIRE) -- 02/09/2018 -- Cyber Security Global Market Overview:
Cyber security is one of the most important concerns for all the countries around the globe. As the technology is growing and new applications are coming into picture, hackers are finding the new loopholes to steal the important and confidential data's from the servers and selling it to the other countries or in black market. Banking and Financial sector became the top target for the phishing attacks as hackers steal the confidential information and data's and withdraw or transact millions of dollars. A study shows that the U.S. is a prime target for cyber-attacks and the U.S. is also an advance country in field of technology. As people are becoming more dependent on the technology and neglecting the security part, it is giving a good option to hackers to steal the data and use accordingly.
Now a day's government of various countries are actively participating in making the country more secure. Recently UK government announced the collaboration of private company with government bodies to make the UK more secure. Apart from this government is adopting the new liberal policies which will help in following areas such as increasing rate of new cyber security start-ups, and collaboration of tech giants to develop some useful measures in order to reduce cyber-attacks.
The major growth driver of Cyber Security Market includes increasing cyber-attacks, emerging IoT and BYOD across various verticals, and government strict regulations for data privacy. However, lack of technical expertise, and high adoption of pirated software by organizations are some of the major factors hindering the growth of Cyber security Market.
Major Key Players:
Intel Security (U.S.), Symantec Corporation (U.S.), Hewlett Packard Enterprise (U.S.), IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Rapid7, Inc. (U.S.), EMC RSA (U.S.), FireEye, Inc. (U.S.), Trend Micro, Inc. (Japan) and Sophos Ltd. (U.K.) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Cyber security Market.
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February 2018 – Lookout, a cyber-security software vendor made an agreement with Ingram Micro, a distributor of information technology products. The agreement has done to expand their mutual relationship aimed to improvise services and integration skills within their respective channels.
January 2018 – IBM expanded its business by setting up cyber-security lab in Beersheva. The new cyber security laboratory is expected to be one of the largest research center outside the U.S integrated with advanced security technologies.
Cyber Security Global Market Competitive Analysis:
The market position analysis is derived by considering various factors such as financial position, segmental R&D investment, brand value, cyber security product portfolio, strategy analysis, and key innovations in cyber security market among other factors. The major players holding prominent position in the cyber security market are Intel Security, Symantec Corporation, Hewlett Packard Enterprise, IBM Corporation, and Cisco Systems, Inc. among others.
The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Cyber security Global Market Segmentation:
The Cyber security Market can be classified into 4 key segments as follows:
Segmentation by Solution: Identity & Access Management, Risk & Compliance Management, Unified Threat Management, Disaster Recovery, Firewall Antivirus, and Web Filtering.
Segmentation by Services: Managed Services, Professional Services Training & Education, Consulting, Support & Maintenance, Design & Integration, and Risk & Threat Assessment.
Segmentation by Security Type: Network Security, End Point Security, Application Security, Cloud Security, and Wireless Security.
Segmentation by End-Users: BFSI, Manufacturing, Healthcare, Retail, IT & Telecommunication, Aerospace & Defense, and Government.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.
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Cyber security Global Market Regional Analysis:
The global cyber security market is estimated to grow at a promising rate in upcoming years. North America is the leading region among Europe, Asia-Pacific and Middle East & Africa. Asia-Pacific is the fastest growing region which is estimated to show high growth during forecast period. Increasing technology adoption and government initiatives to implement security measures to reduce cyber-attacks are expected to drive the growth of cyber security market in the region. However, technical limitation in the market is expected to hamper the market growth in coming years.
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