The CAGR of the cyber security market is estimated to grow at 13.5% over the forecast years (2019 - 2027) as Identity and Access Management Systems are Swiftly Adopting the Latest Biometric Technologies in the Wake of Increasing Cyber-attacks: says Absolute Markets Insights.

Pune, India -- (SBWire) -- 03/09/2019 --Identity and access management system is a framework for business processes to manage electronic and digital identities. It essentially provides a centralized control structure which allows users to monitor the risks within a system. In recent years, identity and access management has been playing a crucial role in the world of cyber security. Business enterprises and government organizations are increasingly comprehending the importance of IAM due to the rising instances of cyber-crimes relating to data breaches and data theft across the world. Such cyber-crimes are largely executed by identity theft. In the United States, identity theft alone is responsible for economic losses of up to US$ 50 billion, annually. IAM ensures that users are indeed who they say they are (authentication) and allows access to the applications and resources they have permissions to (authorization).

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Identity and access management solutions use encryption and digital signatures to protect sensitive data across the various systems within the network. These solutions drastically reduce the risk of compromised user credentials, which is the most prevalent cause of security breaches. For instance, companies like IBM and Okta offer a complete identity and access management platform built to help strengthen compliance and reduce risk by protecting and monitoring user access in multi-perimeter environments. Such platforms provide services which include privileged identity management, log management, user provisioning, multifactor authentication, password management, role management, compliance management and user activity monitoring. These varied applications of identity and access management have majorly propelled the growth of the cyber security market in the past and are expected to continue to do so in the coming years.

"A strong identity and access management solution helps to mitigate the effectiveness of cybercriminal tools such as reconnaissance, privilege escalation, social engineering, remote access and data exfiltration. The adoption of such solutions is greatly expected to reduce the instances of cyber-attacks on a large scale and thereby will propel the growth of the cyber security market."

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This research study aims at providing the reader with quantitative and qualitative analysis of the global cyber security market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The supply side analysis covers the prominent players and their regional and global presence and key business strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

The primary market participants in cyber security market include Accenture, Alert Logic, Inc., Armor Defense Inc., AT&T, Atos SE, Barracuda Networks, Inc., Booz Allen Hamilton Inc., Capgemini, CenturyLink, DXC Technology Company, GeekTek IT Services Inc., HCL Technologies Limited, IBM Corp., Kraft Technology Group LLC, LAN Infotech, Online Business Systems, Optiv Security Inc., Orange Business Services, SecureWorks, Inc., Sequoia Cyber Solutions, Symantec Corporation, Tata Consultancy Services Limited, TechWerxe, Trustwave Holdings, Inc., Verizon and Wipro Limited amongst several others.

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Cyber Security Market:

- By Deployment
o On-Premise
o Cloud-based

- By Organization Size
o Small and Medium Enterprise
o Large Enterprise

- By Application
o Network Security
o Application Security
o End Point Security
o Cloud Security
o Others (Mobile Security, Data Security, etc.)

- By Solution Type
o Identity and Access Management (IAM)
o Risk and Compliance Management
o Encryption Data Loss Prevention
o Unified Threat Management
o Firewall
o Others (Web Filtering, Intrusion Detection System etc.)

- By Service Type
o Professional Service
o Managed Service

- By Vertical
o BFSI (Banking, Financial Services and Insurance)
o Government
o IT and Telecom
o Aerospace and Defense
o Others (Education, Retail, etc.)

- By Geography
o North America
- U.S.
- Canada
- Mexico
- Rest of North America

o Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
o Denmark
o Finland
o Iceland
o Sweden
o Norway
- Benelux Union
o Belgium
o The Netherlands
o Luxembourg
- Rest of Europe

o Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
o Indonesia
o Thailand
o Malaysia
o Singapore
o Rest of Southeast Asia
- Rest of Asia Pacific

o Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa

o Latin America
- Brazil
- Argentina
- Rest of Latin America

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