Commercial Cyber Security Market To Grow At A CAGR of 22.6% Over The Period to 2022 To Aggregate $167.70 Billion By 2022
The increased adoption of cloud for data storage, increasing cyber crimes, increased internet penetration and dependence on internet based applications for online billing and payments are driving the growth of the commercial cyber security market; the leading security type segment, cloud security, is expected to grow at a CAGR of 21.9% and reach $35.90 billion by 2022.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Worldwide Commercial Cyber Security Market – Drivers, Opportunities, Trends, and Forecasts to 2022” (September 2016).
According to Infoholic Research, the BFSI industry will continue to dominate the commercial cyber security market. As per the study, the market will experience a significant growth in the coming years due to the increase in the number of internet users, rise in the number of cyber-attacks and growing demand for cloud adoption for data storage and handling.
“Currently, the commercial cyber security market is set to be the demanding market for aerospace & defense, BFSI, healthcare, retail, public, and IT & telecom sectors. The cyber security market is an attractive space for players to expand their business in various verticals. The services segment will have enormous opportunities in the next 3–4 years due to the increasing demand from the businesses.” – KR Sreenivasan, Founder Director at Infoholic Research
The Commercial Cyber Security market is expected to grow at a CAGR of 22.6% during the period to 2022 to touch an aggregate of $167.70 billion by 2022.
Image: Y-O-Y graph of Commercial Cyber Security market. Few of the values are hidden. You can find the complete report at Infoholic Research.
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The report is segmented by security types, solutions, services, end-users and regions. The DDoS Mitigation solution is playing a major role in offering effective security solution to commercial industry verticals such as aerospace & defense, BFSI, healthcare, retail, public, and IT & telecom. In the ongoing connected world, cyber security has become an essential part of IT infrastructure. Individuals need security to maintain privacy while businesses need it to fulfil corporate governance obligations. The cloud security is the emerging security type and is expected to grow at a CAGR of 21.9% during 2016–2022.
As per the security types analysis, cloud security and wireless security are expected to outperform and reach $35.90 billion and $32.77 billion respectively by 2022.
Image: Cloud security and wireless security market to reach $35.90 billion and $32.77 billion respectively
The cloud security is dominating due to the increasing demand for cloud adoption for data storage and handling. The revolution in the mobile industry will support wireless security in the next 5 years. The increasing internet dependent population and improved lifestyle create significant opportunities for network security type in the commercial cyber security market. Many security providers are expected to enter the market within the next decade.
As per the solutions, DDoS Mitigation plays a major role in the commercial cyber security market. The 4G and 5G solutions are more advantageous than Wi-Fi. It is expected that in coming years, Identity & Access Management and Risk & Vulnerability Management solutions will be adopted more by the major industry verticals. IDS/IPS solution will be growing at an exponential rate and is expected to reach $10.21 billion by 2022, growing at a CAGR of 18.8% during the forecast period 2016–2022.
The services, managed security service is dominating due to the increased cloud adoption for data storage and handling. Managed security services is expected to reach $40.35 billion by 2022. The Bring Your Own Device (BYOD) trend will create significant opportunities for integration service in the coming years. The integration service market is expected to reach $39.29 billion by 2022, growing at a CAGR of 31.0% during the forecast period 2016–2022.
As per end-users, there is an increasing dependence on internet and cloud adoption in aerospace & defense, BFSI, healthcare, retail, public and IT & telecom sectors. The highest growth can be seen in BFSI segment reaching $35.90 billion by 2022, growing at a CAGR of 21.9% during the forecast period 2016–2022.
According to Infoholic's region specific study, Americas is set to be the leading region for commercial cyber security market followed by Western Europe and APEJ. The Eastern Europe, Middle East & Africa (EEMEA) is set to be the emerging region for commercial cyber security market growth. The rising awareness of cyber crimes, increasing adoption of cloud, and rising mobile subscriber base in the developing countries are expected to drive the market growth in the upcoming years.
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The research report categorizes the “Worldwide Commercial Cyber Security” market into the following segments and sub-segments:
- Security types: Market Size and Analysis
- Network Security
- Cloud Security
- Content Security
- Wireless Security
- Application Security
- Endpoint Security
- Solutions: Market Size and Analysis
- Identity & Access Management (IAM)
- Risk & Vulnerability Management
- DDoS Mitigation
- Intrusion Detection System and Intrusion Prevention System (IDS/IPS)
- Business Continuity & Disaster Recovery
- Services: Market Size and Analysis
- Consulting Service
- Managed Security Service
- Integration Service
- End User: Market Size and Analysis
- Aerospace & Defense
- IT & Telecom
- Regions: Market Size and Analysis
- Western Europe
- Asia Pacific Excluding Japan
- Eastern Europe, Middle East, and Africa (EEMEA)
The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- An in-depth analysis of the emerging regions and end-users for commercial cyber security adoption in the next 6–7 years
- Security and network providers will be able to deploy their enhancements in the commercial cyber security solutions
- Cloud service vendors will be able to use the advancements in cloud infrastructure and platforms needed to support commercial cyber security services
- End-users will benefit from the security types and solutions that work with integrated services
- The report analyzes the top 11 players in terms of market reach, business strategy, and business focus
- Provides an in-depth analysis of the key business opportunities in each security types
- Competitive benchmarking analysis to optimize short term and long term strategy of the organizations
- Stakeholders’ insights and key trends (current and future) of the market
Ms. Kathakali Basu
Infoholic Research LLP