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Status : Published Published On : Mar, 2024 Report Code : VRICT5004 Industry : ICT & Media Available Format : Page : 235
2025
2030

Global Cyber Security Market – Analysis and Forecast (2025-2030)

Industry Insights by Component (Solutions [Identity & Access Management, Security & Vulnerability Management, Risk & Compliance Management, Encryption, Firewall, Unified Threat Management, Web Filtering, Disaster Recovery, Distributed Denial of Services Mitigation, Antivirus or Antimalware, Data Loss Prevention, Intrusion Detection Systems], Services [Managed, Professional]), by Deployment Type (Cloud-Based, On-Premise), by Security Type (Network, Endpoint, Wireless, Application, Cloud, Others), by Organization Size (Small & Medium Enterprises, Large Enterprises), by Vertical (Government & Public Utilities, Aerospace & Defense, BFSI, Manufacturing, Retail, Healthcare, IT & Telecom, Others), by Geography (North America, Europe, Asia-Pacific, Middle East, and Rest of the World)

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Industry Overview

According to the estimates, the global Cyber Security Market stood at USD 174.6 billion in 2023, which is expected to reach USD 342.3 billion by 2030, advancing at a CAGR of 10% throughout the projected period (2025–2030).

This growth is typically the repercussion of the prevalent acceptance and implementation of digital solutions in a wide range of industries. With it, the rising risks of cyberattacks also contribute to the expansion. As a result, there is a need for a foolproof cybersecurity system to protect all the digital devices within a network, especially those connected through the internet. This will help a great deal in reducing the number of cyberattacks and eliminating cyber risks. Such a system is crucial to ensure complete protection of hardware, software, information, and data. In addition, it will also prevent access by unauthorized personnel within the network. Efficient cybersecurity systems are indispensable for businesses today to protect their financial and business data, ensure transaction privacy and safety, and safeguard intellectual property.

All these will propel the growth of the global cybersecurity market in the next five years.

Cyber Security Market Highlights

Market Segmentation

Insight by Component

The global cyber security market has two components namely, solutions and services. While solutions hold the larger share of the market and dominate it, cyber security services are catching up pretty fast due to the entry of a large number of new players. It is also the result of the increased concern over data privacy and security.

Analyzing categorically, solutions include different subheads such as risk and compliance management, identity and access management, vulnerability, and security management, distributed denial of service mitigation, unified threat management, disaster recovery, firewalls, antivirus or antimalware, data loss prevention, intrusion detection systems, web filtering, and online filtering, which is supposed to grow most extensively. In comparison, cyber security services involve two major heads namely, professional and managed services. Out of the two, the latter is supposed to have more demand overall during the forecast period.

Insight by Deployment Type

The global cybersecurity market is of two types, based on its development. These are on-site and cloud-based solutions. Here, the latter seems to have a greater impact and growth projection during the period in question. This is mainly due to the susceptibility to cyberattacks of cloud-based systems. As a result, a lot of advancements in technologies and implementation of emerging trends will be seen during the forecast period by majors like Azure, Amazon Web Service (AWS), Oracle, Google Cloud Platform (GCP), and others.

On the contrary, the on-premises segment will also grow during the same period due to the growing need for efficient cybersecurity systems by businesses with continual upgrades to protect their information and databases.

Insight by Security Type

Based on the security type, the global cybersecurity market has different segments, such as wireless, network, endpoint, cloud, application, and others. Out of all these, the application section is supposed to grow at a more rapid pace during the projected period. Ideally, the growth of the global cybersecurity market is the result of the improvements in IoT devices as well as the increase in the number of data centers. It is also the result of several notable government initiatives. In addition, specific programs like the European Program for Critical Infrastructure Protection (EPCIP) and the Critical Infrastructure Protection Program in the United States also contribute to the expansion of this market.

Insight by Organization Size

Based on the size of organizations, the global cyber security sector has two specific parts namely, large enterprises and Small and Medium-sized Enterprises (SMEs). The large enterprise section dominates the market due to large volumes of data and development in AI and ML technology, but SMEs will catch up in the forecast period. This is because this specific segment has the highest growth rate.

Insight by Vertical

The global cyber security market involves different verticals such as government and public utilities, Business and Financial Services (BFSI), aerospace and defense, healthcare, retail, manufacturing, telecom, IT, and others.

During the forecast period, the BFSI industry will grow at a rapid pace. The reason behind it is that it is the main target of cybercriminals and therefore needs a strong protection system to ward off such threats.

Global Cyber Security Market Report Coverage

Report Metric

Details

Historical Period

2018 - 2023

Base Year Considered

2024

Forecast Period

2025 - 2030

Market Size in 2023

U.S.D.  174.6 Billion

Revenue Forecast in 2030

U.S.D.  342.3 Billion

Growth Rate

10.0%

Segments Covered in the Report

By Component, By Deployment Type, By Security Type, By Organization Size, and By Vertical

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, and Rest of the World

Industry Dynamics

Growth Drivers

Most businesses today are moving to digital and cloud-based solutions. This helps in preserving external servers. It also offers flexibility and scalability in computing. However, at the same time, it also increases the risks of cyberattacks and poses additional challenges. Therefore, businesses need robust cybersecurity solutions.

The growing implementation of digital and IoT solutions in different sectors such as BFSI and healthcare has also propelled the growth of this market. This is mainly due to the increased awareness among the users regarding the cybersecurity risks. A lot of major setbacks and notable incidents have resulted in the growth of the market as well.

These regulations have enforced strict procedures for collecting, storing, and handling data and personal information to protect the privacy rights of individuals. Failing to comply often results in penalties. So, organizations emphasize data protection in the digital landscape.

And, of course, the effect of the COVID-19 pandemic cannot be ignored. It has forced the business world to move to a new normal where work from home is widespread. With remote work, implementation comes higher investments in secure access and endpoint safety to alleviate security risks. As a result, the global cybersecurity market will grow significantly.

Restraints

In developing and backward countries, there is a serious restriction on budgets for cybersecurity due to their poor economic conditions. There is also a lack of skilled professionals to ensure cybersecurity in these regions. Changing and complex regulatory requirements are also pulling back the growth of the market since most businesses cannot bear the burden of HIPAA, GDPR, CCPA, and other mandatory compliance requirements. Lack of awareness in most small businesses, legacy, and outdated systems also hindermarket growth.However, there is a lot of hope for its growth since new players are coming up with advanced and more effective solutions to prevent phishing and malware threats.

Geographic Overview

During the projected period, North America is and will lead the way due to higher consumption of cybersecurity solutions. Investments in these solutions by businesses are also pretty high in this region due to increased awareness of the risks and need for cybersecurity.

Conversely, the APAC regions, though lagging, will pick up pace in the forecast period, and grow substantially. This is mainly due to the increase in awareness and extensive use of internet-connected devices.

Global Cyber Security Market, By Region
GLOBAL DIGITAL SIGNATURE MARKET, BY REGION

Key Players Covered in the Report

Hewlett Packard Enterprise, IBM Corporation, Accenture, McAfee Inc., Capgemini, Cognizant, F5 Networks Inc., FireEye Inc., HCL Technologies Limited, Symantec Corporation, Fortinet Inc., Check Point Software Technologies Ltd., Trend Micro Inc., Palo Alto Networks Inc., Cisco Systems Inc., Broadcom Inc, Sophos Ltd., Webroot Inc., F-Secure, Kaspersky Lab, Infosys Limited, L&T Technology Services Limited, PwC International Limited, Broadcom Inc., Tata Consultancy Services, Tech Mahindra Limited, Wipro Limited and LogRhythm Inc. are a few of the major companies operating in the global cyber security market.

Recent developments by Key Players

Hewlett Packard Enterprise has disclosed the hack which is done by the Russian Group behind Microsoft email breach. Midnight Blizzard is the hacker group which is been tracked by the the company behind this attack. Another attacker is a Russian state-sponsored threat actor has been also held responsible for the breach of Microsoft senior executive accounts. Hewlett Packard Enterprise disclosed that the attacker had hacked the cloud email environment which was compromised in 2023.

NATO has selected IBM to enhance alliance's cybersecurity resilience to strengthen the cybersecurity position with improved security and asset management. IBM is been selected as the organization to deliver on NATO's needs. IBM Consulting shall be working on the customized solution that shall provide an unified view of NATO's security position. The Alliance's visibility into cyber risks and empower it to manage potential issues, the company will deploy data analysis, integrations, asset discovery and security experts to provide a consolidated 'single source of truth' on the information about assets, vulnerabilities, configurations and patches across NATO. 

The global Cyber Security Market report offers comprehensive market segmentation analysis along with estimation for the forecast period 2025–2030.

Segments Covered in the Report

  • By Component
    • Solutions
      • Identity and Access Management
      • Risk and Compliance Management
      • Distributed Denial of Service Mitigation
      • Online Filtering
      • Security and Vulnerability Management
      • Web Filtering
      • Unified Threat Management
      • Firewalls
      • Disaster Recovery
      • Data Loss Prevention
      • Antivirus or Antimalware
      • Intrusion Detection Systems
    • Services
      • Managed
      • Professional
  • By Deployment Type
    • Cloud-Based
    • On-Premise Solutions
  • By Security Type
    • Network
    • Endpoint
    • Wireless
    • Application
    • Cloud
    • Others
  • By Organization Size
    • Small Enterprises
    • Medium Enterprises
    • Large Enterprises
  • By Vertical
    • Government & Public Utilities
    • Aerospace & Defense
    • BFSI
    • Manufacturing
    • Retail
    • Healthcare
    • IT & Telecom
    • Others

Region Covered in the Report

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia-Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World (RoW)
    • Brazil
    • Saudi Arabia
    • South Africa
    • U.A.E.
    • Other Countries

Cyber Security Market Size

Source: VynZ Research

Cyber Security Market Analysis

Source: VynZ Research

Frequently Asked Questions

What are the major Security Types for this market?

Based on security type, the global cyber security market is categorized into network, endpoint, wireless, application, cloud, and others.

What is the growth rate of the Asia-Pacific market?

Asia-Pacific is observed to witness significant growth in the global cyber security market during the forecast period.

Which region is the fastest growing in the global market?

North America has been one of the largest consumers of cyber security during the forecast period.

What are the key growth strategies of industry players?

The global cyber security market has been driven by several key factors, predominantly the stringent directives for data privacy, increasing number of cyber-attacks, increasing adoption of digital solutions by most industries, and increasing inclination towards cloud-based solutions from on-premise.

Which technology holds the largest share in the market?

the web filtering solution category is expected to witness the fastest growth in the market during the forecast period.

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Key Takeaways