Emergence of IoT & BYOD, surge in malware and phishing threats among enterprises, and rise in demand for cloud-based solutions propel the growth of the global cyber security market.
However, complexities regarding device security and tight budgets restrain the market growth. Contrarily, rise in requirements regarding strong authentication methods and rise of the antivirus industry would offer new opportunities in coming years.
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Based on component, the solutions segment held more than two-thirds of the total share, and is estimated to maintain its lead position in terms of revenue throughout the forecast period.
This is due to rise in requirements regarding monitoring of external and in-house attacks in large and small & medium enterprises.
Contrarily, the services segment is estimated to register the highest CAGR of 13.8% from 2018 to 2025, owing to increase in adoption of digital technologies from various industries and requirement for data privacy.
The global cyber security market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is projected to manifest the highest CAGR during the forecast period. However, the market across North America is estimated to hold the largest share during the forecast period.
On the basis of solutions/ offering, the data security & privacy services offering segment is expected to hold the highest share during the forecast period.
The report includes an in-depth analysis of other segments such as identity & access management, infrastructure security, governance, risk & compliance, unified vulnerability management service offering, and others.
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The global cyber security market report includes an in-depth analysis of the major market players such as Accenture, Cognizant, Capgemini, FireEye Inc., F5 Networks Inc., IBM Corporation, HCL Technologies Limited, L&T Technology Services Limited, Infosys Limited, Tata Consultancy Services, PwC International Limited Broadcom Inc., Wipro Limited, and Tech Mahindra Limited.
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