Global cybersecurity market projected to reach $500 billion by 2030

The global cybersecurity market is projected to witness significant growth and reach a market size of $501.6 billion by 2030, with a compound annual growth rate of 11.6%.

The remarkable expansion of new technologies and remedies in cybersecurity has been prompted by the escalating frequency of data breaches worldwide. This increase is due to the increasing prevalence of digitalization and the heightened level of complex cyber-attacks.

According to Spherical Insights, North America dominates the global cybersecurity market and has the most prominent vendors. The region, comprising the US and Canada, has advanced infrastructure and significant technological adoption, making it the largest contributor to the global cybersecurity market in terms of market size.

The growth of the North American cybersecurity industry is driven by key industry players offering cybersecurity technology solutions. Organizations are prompted to adopt cybersecurity solutions due to changing working scenarios resulting from COVID-19, BYOD trends, IoT, adherence to compliance and regulations, and elevating risks from APT threats.

Cybersecurity market growth between 2022 to 2027

According to MarketsandMarkets, there has been a significant increase in cyber-attacks in the last five years, making them a top security challenge for large and small & medium-sized enterprises (SMEs).

MarketsandMarkets report predicts the global cybersecurity market will reach $266.2 billion by 2027. According to the survey, the market will grow at a CAGR of 8.9% from 2022 to 2027 during the projected period.

The report highlights increased targeted attacks that aim to infiltrate a target’s network infrastructure while maintaining anonymity. The primary goal of targeted attacks is to breach the network of targeted companies or organizations and steal crucial information. Typically, attackers with a specific target will attack various endpoints, networks, on-premises devices, cloud-based applications, data, and other IT infrastructures.

Targeted cyberattacks have a significant impact not only on targeted organizations but also on domestic and global customers. Given the rapidly changing nature of threats, deploying multi-layered cybersecurity solutions at the initial stage of security solutions is crucial to protect against all types of cyberattacks.


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