According to the research report titled ‘Global Cyber Security Market (2022 Edition) - Analysis By Security (Wireless, Application, Network, End Point, Infrastructure Protection, Others), Deployment, End User, By Region, By Country Market Insights and Forecast with Impact of COVID-19 (2021-2026), available with MarketStudyReport, global cyber security market was valued at USD 171.05 billion in 2020 and is anticipated to garner profitable returns by the year 2026.

The expansion of global cyber security market is creditable to rising number of cyber-crimes in a variety of businesses. Notably, malware is frequently used by cyber criminals to seize control of devices or machines to make a profit.

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Malware, such as viruses and Trojans, has expanded its ability to enter, manipulate, and harm entire electronic information networks. Focus among enterprises to strengthen the security of data and network is impelling the industry trends during the forecast duration.

Furthermore, during the COVID-19 pandemic, there was a rise in number of malware attacks on major enterprises' databases, which further emphasize the need to tighten database security, augmenting the market growth.

In terms of security, the wireless security segment is anticipated to grow at a constant pace throughout the forecast duration, as this solution assists in detecting, alerting, and preventing wireless networks, while sending an alarm to the network administrator during a security breach.

On the basis of end-user scope of worldwide cyber security industry, government & defence segment held 25.70% revenue share in 2020. Whereas the BFSI segment is slated to progress with a strong CAGR during the forecast period.

Regionally speaking, North America market accounted for a significant revenue share in 2020. Meanwhile, Asia Pacific industry is poised to grow significantly during the forecast duration, due to emergence of IoT devices, and government programmes aimed at advanced technological advances, as well as introduction of cyber security solutions in countries like China and Japan.

Considering the competitive landscape, Broadcom Inc., F5 Inc., Palo Alto Networks Inc., Hewlett Packard Enterprise Company, Juniper Networks Inc., FireEye Inc., Check Point Software Technologies Ltd., Fortinet, NortonLifeLock Inc., and Cisco Systems Inc. are the leading players influencing the global cyber security market trends.