Cyber Security Market to 2027 - Business Growth Trends and Emerging Opportunities Analysis

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Cyber Security Market by Growth Opportunities and
Key Trends Analysis by Regional Players to 2027

• The cybersecurity market is anticipated to
  witness exponential growth credited to increasing
  demand for IT security solutions in enterprises
  for protecting highly sensitive information from
  unauthenticated access and vulnerabilities. Use
  of cybersecurity solutions can help enterprises
  in preventing potential non-monetary and monetary
  losses from data storage devices and
  interconnected servers. With internet penetration
  and technological advancements, enterprises are
  steadily shifting towards cloud-based business
  models.
• As extensive digitization and cloud business
  infrastructure is susceptible to information
  breach and cyber threats, enterprises are making
  heavy investments in cybersecurity solutions.
  These solutions help a firm to maintain the
  streamlined network operations by following set
  guidelines. Cybersecurity solutions also manage
  the overall network security as well as prevent
  unauthenticated changes over the network.

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• Several cybersecurity firms are working on
  developing advanced cybersecurity solutions
  through strategic collaborations. For example, in
  2019, IBM introduced its innovative platform
  consisting of open-source technology for hunting
  out cyber threats and to speed up the response to
  cyber threats across clouds. With such
  developments, Global Market Insights, Inc.,
  estimates that the cybersecurity market may
  record USD 400 billion valuation by 2027.

• Cybersecurity market across SMEs is projected to
  register a CAGR of around 15 over the forecast
  period. Rising number of cyberattacks and
  monetary losses are considered to be some of the
  major factors supporting the adoption of these
  solutions. Even though SMEs are facing budget
  constraints which is affecting the use of
  cybersecurity solutions, continuous development
  along with cost-effective security solutions
  could drive product usage.

• Notably, the adoption of cybersecurity products
  and services is rising in the IT and
  telecommunication enterprises given to the demand
  for protection of personal sensitive data.
  Enterprises are using security solutions for
  protecting virtual information systems, servers,
  and data centers. This enables them to detect
  vulnerabilities at an earlier stage, providing
  protection from live attacks, and reducing cyber
  risks.

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• Regional Analysis

• Geographically, the Europe cybersecurity market
  is likely to record above 10 CAGR in the
  upcoming years on account of enterprises in the
  banking sector adopting advanced cybersecurity
  solutions. Furthermore, private enterprises and
  government authorities are also collaborating to
  prevent vulnerabilities in the financial sector.

• Competitive Analysis

• Meanwhile, the global cybersecurity market is
  dominated by leading firms such as IBM
  Corporation, Oracle Corporation, Amazon Web
  Services, Microsoft Corporation, Google LLC, and
  Nokia Networks. New product innovations and
  collaborations are the key business strategies
  utilized by these firms.

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