Cyber Security Market Size is Projected to Reach USD 267,420.59 Million by 2025 | Valuates Reports
BANGALORE, India, Oct. 23, 2020 /PRNewswire/ -- According to the Latest Market Research Report "Cyber Security Market by Security Type (Application Security and Cloud Security), by Services (Managed Services and Professional Services), by Solution (Distributed Denial of Service (DDoS), Risk and Compliance Management, and Unified Threat Management), by Deployment mode (Cloud and On-premise), by End user (Aerospace and Defense, Healthcare, IT and Telecom, Manufacturing, and Public Sector) and Region – Global Forecast to 2025", published on Valuates Reports.
The Global Cyber Security Market size is expected to grow from USD 158,425.94 Million in 2019 to USD 267,420.59 Million by the end of 2025 at a CAGR of 9.11%.
Major factors driving the growth of cybersecurity market size are an increase in the frequency and complexities of cyber-attacks, stringent data protection regulations for information security, the emergence of disruptive digital technologies like IoT, and a surge in the number of supply chain based attacks exploiting the software supply chain.
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TRENDS INFLUENCING THE CYBERSECURITY MARKET SIZE
The cybersecurity market size is expected to increase due to the integration of technologies like the Internet of Things (IoT), machine learning, and big data in threat and security technique upgradation. Companies operating in the cybersecurity market are shifting from a 'signature-based' malware detection system to 'signature-less' systems that feature technologies such as IoT, machine learning, and big data.
Another trend that's influencing the cybersecurity market size is the rising adoption of cloud-based services in IT securities. Generally, all cybersecurity solutions are based on complex mathematical prediction models and deciphering from large amounts of data. This handling of data and accurate prediction can only be fulfilled with the adoption of cloud-based technology that's backed by Analytics as a Service (AaaS), as it allows users to find and mitigate uncertain security threats.