According to the recent research report titled ‘GLOBAL Cyber Security Market 2019-2028’, available with Market Study Report, global cyber security market size is expected to expand at 10.65% CAGR over 2019-2028.
 

Growing adoption of Internet of Things (IoT) and bring your own device (BYOD) solutions, surging demand for cloud-based technologies, and increasing cyber threats among organizations are the key factors stimulating global cyber security market growth. In addition, rising number of cyber security incidents and regulations are also adding to the industry potential.
 

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Focus towards upgrading from traditional anti-virus software, mounting mobile device applications and platforms, and sturdy validation processes are augmenting global cyber security industry share.
 

Coming to the restraints, lack of professionals, limited budget among small & medium enterprises (SME) organizations, and complex designs of device security are likely to impede the business expansion. Moreover, availability of pirated version of security software is also anticipated to negatively impact worldwide cyber security industry remuneration.
 

With respect to component type, the market is split into service and solution. Based on deployment, the industry is bifurcated into on-premises and cloud. Elaborating on organization size, the market is categorized into SMEs and large organizations.
 

Moving on to application spectrum, global cyber security market is classified into data security & privacy service offerings, unified vulnerability management service offerings, governance, risk and compliance, infrastructure security, identity & access management (IAM), and others.
 

As per industry verticals, the market is divided into manufacturing, energy & utilities, IT & telecommunication, retail, public sector, healthcare, BFSI, aerospace & defense, and others.
 

Geographically, Asia Pacific cyber security industry is predicted to record decent growth over the assessment period, attributable to increasing number of connected devices and technological advancements in mobile devices. Soaring number of cyber-attacks in economies such as South Korea is also boosting the demand cyber security.
 

Key players swaying global cyber security market dynamics are Trend Micro Incorporated, Symantec Corporation (Broadcom Inc.), Rapid7 Inc., Proofpoint Inc., Palo Alto Networks Inc., Intel Security (Intel Corporation), Imperva Inc., International Business Machines Corporation, Fortinet Inc., FireEye Inc., Dell Technologies Inc., Cyber Ark Software Ltd., Cisco Systems Inc., Check Point Software Technologies Ltd., and AVG Technologies (AVAST Software SRO).