Industry Background:
Cybercrime is dedicated against an individual or a group as well as committed against government and private organizations. It may be projected to harm someone’s reputation, physical harm, or even mental harm. Cyber security is a potential activity by which information and other communication systems are protected from and/or defended against unauthorized use or modification or exploitation or even theft. It is a well-designed technique to protect computers, networks, different programs, personal data, etc., from unauthorized access. Enormously growing cyber-attacks are the major factor driving the market growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | ScienceSoft (United States), IBM (United States), Microsoft (United States), ABS Consulting Inc. (United States), Palo Alto Networks (United States), Trend Micro Inc. (Japan), FireEye Inc. (United States), Symantec Enterprise-Grade Cyber Security (United States), Fortinet (United States), Amazon.com (United States) and SecurityHQ (United Kingdom) |
This growth is primarily driven by Increasing Cyber Terrorism and Attacks and Rising Awareness for Data Privacy and Security.
Globally, a noticeable market trend is evident Technological Advancement for Cyber Security
Major Players, such as ScienceSoft (United States), IBM (United States), Microsoft (United States), ABS Consulting Inc. (United States), Palo Alto Networks (United States), Trend Micro Inc. (Japan), FireEye Inc. (United States), Symantec Enterprise-Grade Cyber Security (United States), Fortinet (United States), Amazon.com (United States) and SecurityHQ (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Global Cybercrime and Security is a fragmented market due to the presence of various players. The players are focusing on investing more in Launching New Services. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
On 2nd March 2021, Palo Alto Networks, Inc. has acquired the Bridgecrew. The acquisition helps to deliver security across the full application lifecycle. With this acquisition, the company wants to accelerate the global presence and enhance capabilities, including adding new frameworks, expanding the number of checks, and increasing the depth of coverage.
On April 29, 2021, ABS Consulting Inc. a leading global operational risk management company, launched an integrated new cybersecurity service designed to help organizations monitor, manage and reduce the growing threat of Operational Technology (OT) cyber-attacks.
Regulatory Insights:
California Consumer Privacy Act (CCPA) is passing a law for the protection of data in the United States which will be effective by January 2020. It is expected to be the country’s highest commendable security and privacy law. Also, SEC is taking risk prohibiting steps to overcome breaches in financial sectors specific to public listed companies to increase risk assurance. European Union laws (GDPR) is taking important measures to protect data privacy and is expected to impact ~4% of global annual sales.
Influencing Trend:
Technological Advancement for Cyber Security and Adoption of Next Generation Cyber Security Systems
Market Growth Drivers:
Increasing Cyber Terrorism and Attacks and Rising Awareness for Data Privacy and Security
Challenges:
Lack of Sufficient Funding and Inadequate Availability of Cybersecurity Professionals
Restraints:
Increasing Sophistication of Threats and Lack of Visibility and Influence within the Enterprise
Opportunities:
Growing IT Consulting Industry will boost the Cyber Security Testing Market and Growing Demand for Cyber Security in Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Cybercrime and Security Market
- Analysis about New Entrants in Cybercrime and Security Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Cybercrime and Security Study Sheds Light on
The Cybercrime and Security Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Cybercrime and Security industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cybercrime and Security industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.