Cyber Security Market Headed for Growth and Global
Expansion by 2026
Cyber Security Market research provides industry analysis by type,
manufacturer, application along with key factors influencing the
growth of the market which include growth drivers, restraints,
opportunities and challenges, strategically profile key players and
comprehensively
analyze
their
market
share
and
core
competencies.
Cyber security provides protection to data, hardware, and software from cyber-attacks and
damage caused by Internet, data and code injection. Cyber security allows organizations to
protect their data from cyber-attacks by providing solutions such as incident management,
Unified Threat Management (UTM), risk and compliance management, and Identity and Access
Management (IAM). Increasing demand for cyber security solutions due to increasing incidences
of cyber-attacks is major factor driving growth of the cyber security market. For instance,
according to Coherent Market Insights analysis, in July 2017, number of cybercrime raised to
84.1% from 68.8%. Cyber Espionage slides to 10.1% from 15.6% of June whereas Cyber Warfare
plummets to 4.3% from 9.4%.
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The data stored on cloud or on-premises is vulnerable to cyber-attacks by various software such
as Trojan horses and viruses, which consequently increases the requirement of cyber security
solutions. Furthermore, increasing adoption of cyber security by industries such as banking,
finance and insurance, government and military, and retail and manufacturing is another factor
driving growth of the market. Banking and financial sector is the major end user of cyber
security, as it uses cyber security to protect private data or cash related to customers, which is