Cybersecurity Market Outlook 2024 | Growth Drivers & Geographic Analysis

Global cybersecurity market share is anticipated to witness a massive upscale in revenue in the following years, perhaps attributing to surging prevalence of cyberattacks across the various organizations. Ascribing to this, numerous enterprises are rapidly implementing cloud platforms, thereby stimulating the business dynamics during 2018-2024.

A paradigm shift towards the adoption of cloud and other networking technologies with an intent to minimize the security risks has triggered the market growth. As a matter of fact, average investment on cybersecurity is likely to rise considerably to dodge monetary and non-monetary losses, eventually proliferating the cybersecurity market size. As per credible sources, the financial losses in the last 5 years have escalated over 62 per cent registering an urgent requirement for cybersecurity solutions to secure the crucial data.

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Cybersecurity market is defined by a vast application spectrum and has gained widespread popularity on account of the same, over the past few years. On these grounds, it is pivotal to mention that the wide scale use of online payment methods and burgeoning cyberattacks has enabled the banking segment to evolve as one of the major revenue pockets for the market in the recent times.

Based on the organizational segmentation, the large enterprises are projected to accrue noticeable improvements in the upcoming years owing to rising investment on cybersecurity solutions to reduce the monetary and private data loss.

As per trusted reports, British Airways in September 2017 revealed that nearly 2 lakhs of its passenger information had been digitally attacked thereby exposing the personal details of the travelers. The United Kingdom authorities slammed a fine of USD 244 million on the airlines for overseeing the required security measures.

According to estimates, the large enterprises held over 60 per cent of the global cybersecurity market share in 2017 and is probable to grow at a prodigious pace in the upcoming years.

The global cybersecurity market, as per the product type spectrum, is segmented into 3 types- Identity, Authentication and Access Management (IAAM), network security market, and security services.

The IAAM segment is likely to amass considerable proceeds over the forecast period. This growth can be aptly credited to the elevating rise in transfer of huge amounts of data across the enterprises whilst adding to the hike in cyberattack incidents. Mounting adoption of cloud-based services and third-party storage would further accelerate the growth of IAAM cybersecurity market. Apparently, the IAAM market is likely to record a CAGR of over 17 per cent through 2024.

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Propelled by the cyber strategy, in conjunction with the rising adoption of cybersecurity solutions by an extensive number of enterprises spanning the nation, the U.S. cybersecurity industry is anticipated to crop up as one of the most prominent regional markets over 2018-2024.

It is rather overt that the global cybersecurity market is well positioned to establish itself as a lucrative investment ground. As per Global market Insights, Inc., cybersecurity industry size, driven by the growing number of cyberthreats that are frequently cropping up, is anticipated to be pegged at $300 billion by 2024.

Some Points From Table Of Content: –

Chapter 6. Global Cybersecurity Market, By Organization Type

6.1. Key trends, by organization type

6.2. SMEs

6.2.1. Market estimates and forecast, 2013 – 2024

6.3. Government

6.3.1. Market estimates and forecast, 2013 – 2024

6.4. Large organizations

6.4.1. Market estimates and forecast, 2013 – 2024

Chapter 7. Global Cybersecurity Market, By Industry

7.1. Key trends, by industry

7.2. Banking

7.2.1. Market estimates and forecast, 2013 – 2024

7.3. Government

7.3.1. Market estimates and forecast, 2013 – 2024

7.4. Manufacturing

7.4.1. Market estimates and forecast, 2013 – 2024

7.5. Transportation

7.5.1. Market estimates and forecast, 2013 – 2024

7.6. IT & telecom

7.6.1. Market estimates and forecast, 2013 – 2024

7.7. Insurance

7.7.1. Market estimates and forecast, 2013 – 2024

7.8. Securities

7.8.1. Market estimates and forecast, 2013 – 2024

7.9. Others

7.9.1. Market estimates and forecast, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/cybersecurity-market

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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