2028 Cyber Security Industry Report Growth Forecasts

Stratistics MRC's Global Cyber Security Market value expected to reach $475.62 billion growing at a CAGR of 16.2% during 2020-2028.

Cyber security, also referred to as IT security, emphasizes on safeguarding computers, programs, networks, and data from unlicensed or spontaneous access. It comprises network security, application security, endpoint security, identity management, data security, cloud security, and infrastructure security. As cyber threats have increased at an alarming rate, security solutions have been gaining traction, globally. Solutions such as antivirus software and firewalls have grown in complexity and proven to be effective at preventing threats and attacks, such as malware, Trojans, and phishing. The success of these solutions has led to rapid development of the cyber security industry, as implementing technical defense has become a standard best practice in every enterprise.
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North America is projected to have the highest CAGR, owing to the existence of prominent security vendors that have global and regional headquarters in the U.S. Additionally; increased spending on security solutions and services by large enterprises and SMEs in the region is expected to drive the regional market. Besides, the increasing stringency of data privacy and security standards and policies is contributing to the regional market growth.

Some of the key players profiled in the Cyber Security Market include Wipro Limited , Trend Micro Incorporated, Tech Mahindra Limited, Tata Consultancy Services Limited, Pricewaterhousecoopers International Limited, Palo Alto Networks, Inc., McAfee, LLC , L&T Technology Services Limited, Infosys Limited, IBM Corporation, HCL Technologies Limited, Fireeye, Inc., F5, Inc., Cognizant, Cisco Systems, Inc., Check Point Software Technology Ltd., Capgemini, Broadcom.
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