According to the latest report by IMARC Group, titled “Cybersecurity Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global cybersecurity market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to expand at a CAGR of around 11% during 2021-2026.
Cybersecurity solutions are used to secure servers, networks, and other electronic systems from unauthorized access of data. They reduce the vulnerability of cyber-attacks and protect critical information systems without interfering with the customer experience. They also enable employees to work at any time from any device or location. Presently, the demand for cybersecurity solutions is escalating on account of the growing instances of data breaches worldwide.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Cybersecurity Market Trends:
The coronavirus disease (COVID-19) outbreak and subsequently imposed lockdown restrictions by governing agencies of numerous countries have increased the adoption of remote working models among enterprises across the globe. This, in turn, is catalyzing the demand for cybersecurity solutions to support business continuity amidst pandemic uncertainties. Besides this, the growing use of online banking services around the world is positively influencing the adoption of cybersecurity solutions in the banking, financial services, and insurance (BFSI) sector.
Additionally, there is a significant rise in the need to defend critical infrastructure from advanced persistent threats (APTs). As a result, governments worldwide are employing cybersecurity solutions to improve their security measures. Furthermore, leading players are utilizing automated technologies, such as artificial intelligence (AI), machine learning (ML), and advanced analytics, to minimize the impact of breaches.
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Global Cybersecurity Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Player:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
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Key Highlights of the Report:
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