Cybersecurity market 2023-2027: A descriptive analysis of parent market, five forces model, market dynamics, and segmentation – Technavio – Yahoo Finance

NEW YORK, Dec. 6, 2022 /PRNewswire/ — According to Technavio, the global cybersecurity market size is projected to grow by USD 203.5 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 13.57% during the forecast period. However, the growth momentum will accelerate. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 34%.
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Global Cybersecurity Market – Five Forces
The global cybersecurity market is fragmented, and the five forces analysis covers–
Bargaining Power of Buyers
Threat of New Entrants
Threat of Rivalry
Bargaining Power of Suppliers
Threat of Substitutes
Interpretation of Porter’s Five Forces model helps to strategize the business, for entire details – buy the report!
Global Cybersecurity Market – Parent Market Analysis
Technavio categorizes the global cyber security market as a part of the global IT software market. The super parent global IT software market covers companies engaged in developing and producing application systems software, and database management software. The global systems software market covers organizations that are engaged in developing application development and management software, cloud computing software, data center and hosting software, IT management software, mobility software, networking software, security software, and storage software. It excludes companies classified in the development and production of home entertainment software. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Global Cybersecurity Market – Customer Landscape
The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cybersecurity Market – Segmentation Assessment
Segment Overview
Technavio has segmented the market based on deployment, end-user, and region.
The on-premise segment will grow at the highest rate during the forecast period. On-premises cyber security is considered highly secure as it is managed and maintained by enterprises in the end-user industry. Enterprises have complete control over their on-premises solutions because of monitored and restricted access, and it also allows them to customize the cyber security solution according to their requirements. Such factors will increase segment growth during the forecast period.
Geography Overview
By geography, the global cybersecurity market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global cybersecurity market.
North America account for 34% of the global cybersecurity market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. The market in the region is driven by factors such as the increased adoption of cyber security solutions by end-user industries, the shift of conventional IT services to internet-based IT systems, growth of end-user industries, increased government initiatives for the implementation of cyber security solutions, and the growing number of IT companies and IT startups. Moreover, US is the key market in North America.
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Global Cybersecurity Market – Market Dynamics
Key factors driving market growth
The increase in the use of mobile devices arc furnaces route than the BF-BOF route is the key factor driving the market growth. With the increasing adoption of mobile devices, such as mobile phones, laptops, and tablets, the need for cybersecurity solutions is increasing. One of the major reasons for this is the increasing access to the Internet through such devices, which is increasing the chances of cyber threats. Furthermore, the use of mobile devices for personal and professional use is increasing access to critical data and information, which will increase the chance of unauthorized access in case of a stolen mobile device, which in turn will boost the growth of the market in focus during the forecast period.
Recent trends influencing the market
The adoption of IoT is the primary trend in the global cybersecurity market. IoT enables better connectivity and resolves all critical situations and enabled proper communication between systems, devices, and services. This has facilitated the transmission of a huge amount of data through networks at high speed. Owing to an increase in the use of wireless networks for interaction between people and machines, IoT is getting affected by cyber threats. Thus, organizations implementing the IoT are investing heavily in cyber security solutions to overcome their concerns about data theft, which will boost the growth of the market in focus during the forecast period.
Major challenges hindering the market growth
The high cost of deployment is a major challenge to the global cybersecurity market growth. The total installation cost includes the cost of software licensing, system designing and customization, implementation, training, and maintenance for an individual organization. An organization must recruit IT staff, for proper implementation of the cyber security software, which incurs additional costs. Furthermore, a cyber security solution contains additional hidden costs, such as costs involved in providing knowledge, experience, and skill development of the solution to understand its functionality. Thus, the high cost of deployment will impede the growth of the market in focus during the forecast period.
Drivers, Trends, and Challenges are the factors of market dynamics, which state about consequences and sustainability of the businesses. Find some insights from a sample report!
What are the key data covered in this cybersecurity market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the cybersecurity market between 2023 and 2027
Precise estimation of the size of the cybersecurity market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the cybersecurity market industry across APAC, North America, Europe, Middle East and Africa, and South America
Thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of cybersecurity market vendors
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Cybersecurity market Scope
Report Coverage
Page number
Base year
Historic Period
2017 -2021
Forecast period
2023 -2027
Growth momentum & CAGR
Accelerate at a CAGR of 13.57%
Market growth 2023-2027
USD 203.5 billion
Market structure
YoY growth (%)
Regional analysis
North America, APAC, Europe, Middle East and Africa, and South America
Performing market contribution
North America at 34%
Key countries
US, China, Japan, UK, and Germany
Competitive landscape
Leading companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Leading Vendors, Market Positioning of Vendors
AO Kaspersky Lab, Booz Allen Hamilton Holding Corp., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Dell Technologies Inc., Fortinet Inc., F Secure Corp., General Dynamics Corp., Hewlett Packard Enterprise Co., International Business Machines Corp., Juniper Networks Inc., Lockheed Martin Corp., McAfee LLC, Microsoft Corp., Northrop Grumman Corp., Raytheon Technologies Corp., Sophos Ltd., The Boeing Co., and Trend Micro Inc.
Market Dynamics
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global cyber security market 2017 – 2021
4.2 Deployment Segment Analysis 2017 – 2021
4.3 End-user Segment Analysis 2017 – 2021
4.4 Geography Segment Analysis 2017 – 2021
4.5 Country Segment Analysis 2017 – 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Deployment
6.1 Market segments
6.2 Comparison by Deployment
6.3 On-premise – Market size and forecast 2022-2027
6.4 Cloud-based – Market size and forecast 2022-2027
6.5 Market opportunity by Deployment
7 Market Segmentation by End-user
7.1 Market segments
7.2 Comparison by End-user
7.3 Government – Market size and forecast 2022-2027
7.4 BFSI – Market size and forecast 2022-2027
7.5 ICT – Market size and forecast 2022-2027
7.6 Manufacturing – Market size and forecast 2022-2027
7.7 Others – Market size and forecast 2022-2027
7.8 Market opportunity by End-user
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America – Market size and forecast 2022-2027
9.4 APAC – Market size and forecast 2022-2027
9.5 Europe – Market size and forecast 2022-2027
9.6 Middle East and Africa – Market size and forecast 2022-2027
9.7 South America – Market size and forecast 2022-2027
9.8 US – Market size and forecast 2022-2027
9.9 China – Market size and forecast 2022-2027
9.10 UK – Market size and forecast 2022-2027
9.11 Germany – Market size and forecast 2022-2027
9.12 Japan – Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 AO Kaspersky Lab
12.4 Booz Allen Hamilton Holding Corp.
12.5 Broadcom Inc.
12.6 Check Point Software Technologies Ltd.
12.7 Cisco Systems Inc.
12.8 Dell Technologies Inc.
12.9 F Secure Corp.
12.10 Fortinet Inc.
12.11 General Dynamics Corp.
12.12 Hewlett Packard Enterprise Co.
12.13 International Business Machines Corp.
12.14 Lockheed Martin Corp.
12.15 McAfee LLC
12.16 The Boeing Co.
12.17 Trend Micro Inc.
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
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Media & Marketing Executive
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