Allied Market Research Cyber Security Market Outlook Through 2025

The cyber security market is projected to reach $258.99 billion by 2025, growing at a CAGR of 11.9%. Cyber security also referred to as Information Technology (IT) security, emphasize on safeguarding computers, programs, networks, and data from unlicensed or spontaneous access. As cyber threats have gained importance, security solutions have progressed as well. Factors such as rise in malware and phishing threats, and growth in adoption of IoT and BYOD trend among organizations, are driving the cyber security industry growth.

Growing demand for cloud-based cyber security solutions is also one of the major factors fueling the market growth. However, constant need to conform to cyber security industry standards, regulations, and complexities of device security are some of the major factors hampering the market growth. Furthermore, cyber security activities are now being prioritized and aligned to strategic business activities to minimize the damage of IT resources, which provides the major opportunity for the market growth. Also, increase in need for strong authentication techniques is also expected to provide lucrative opportunities for the market.

The solutions segment dominated the overall cyber security market and is expected to remain dominant during the forecast period, due to increase in need to monitor external and in-house threats for large as well as small & medium enterprises. Further, the services segment is also expected to grow at a rapid pace throughout the forecast years.

The cloud segment is expected to exhibit significant growth rate in the cyber security market during the forecast period. The growth of this segment is mainly attributed to low maintenance cost, which is majorly preferred by small & medium enterprises. On the contrary, the on-premises segment is also expected to grow at a rapid pace throughout the forecast years.

Factors such as rise in malware and phishing threats, and increase in adoption of IoT and BYOD trend among organizations are driving the market growth. In addition, surge in demand for cloud-based cyber security solutions is also one of the major factors fueling the market growth. However, constant need to conform to industry standards, regulations and complexities of device security are some of the major factors hampering the market growth. Furthermore, cyber security activities are now being prioritized and aligned to strategic business activities to minimize the damage of IT resources, which provides the major opportunity for the market growth. Also, increase in need for strong authentication techniques is also expected to provide lucrative opportunities for the market.

(For more information visit: https://www.alliedmarketresearch.com/)