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Astonishing Growth in Cyber Security Market is Estimated to Grow at a CAGR of 13.5% over the forecast years (2019 – 2027)

With Cyber-attacks Gaining Traction as Fastest Growing Type of Crime Across the Globe, Says Absolute Markets Insights

Cyber Security Market is witnessing huge growth of 13.5% CAGR by forecast period from 2019 to 2027.

The global cyber security market is swiftly growing as it is becoming increasingly difficult to keep pace with the rising malware attacks and cybercrimes on banking and financial institutions, healthcare organizations and government bodies, amongst several other industries across the world. Revolutionary technologies such as machine learning and big data have offered new capabilities and ease of working in the recent past. However, these technologies are also increasingly causing several industries to become more vulnerable to exploitation and cyber-attacks.

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The widespread adoption of information technology has compelled industries to increasingly rely on digitized information. Sharing a vast amount of data in external and internal environments as well across the globe have made organizations prey to cybercrimes through different forms of cyber-attack. Cyber-attacks largely result in loss of competitive advantage and cause steep financial damage to organizations.

It is estimated that over the next five years, cybercrime could potentially cost companies US$ 5.2 trillion every year. In the wake of security breaches and high-profile data theft, it is becoming vital for organizations to determine future threats and accordingly redesign their security posture. Cyber security is therefore becoming imperative owing to the increased focus on preventing cybercrime activities which can potentially hamper the momentum and operations of a business. This upward surge in demand for cyber security solutions by organizations across industries is expected to act as a major driver for the cyber security market.

“Payment fraud is growing online and studies claim that data breaches resulting in the theft of sensitive personal information are to blame. Cybercriminals are increasingly using the credentials obtained from these breaches to create new synthetic identities in order to perform cyber-attacks. Measures taken by enterprises to combat such identity theft is propelling the growth of the cyber security market.”

This research study aims at providing the reader with quantitative and qualitative analysis of the global cyber security market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The supply side analysis covers the prominent players and their regional and global presence and key business strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.

The primary market participants in cyber security market include Accenture, Alert Logic, Inc., Armor Defense Inc., AT&T, Atos SE, Barracuda Networks, Inc., Booz Allen Hamilton Inc., Capgemini, CenturyLink, DXC Technology Company, GeekTek IT Services Inc., HCL Technologies Limited, IBM Corp., Kraft Technology Group LLC, LAN Infotech, Online Business Systems, Optiv Security Inc., Orange Business Services, SecureWorks, Inc., Sequoia Cyber Solutions, Symantec Corporation, Tata Consultancy Services Limited, TechWerxe, Trustwave Holdings, Inc., Verizon and Wipro Limited amongst several others.

Airbus is a global leader in aeronautics, space and related services. In 2020, it generated revenues of €49.9 billion and employed a workforce of around 130,000. Airbus offers the most comprehensive range of passenger airliners. Airbus is also a European leader providing tanker, combat, transport and mission aircraft, as well as one of the world’s leading space companies. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions worldwide. Airbus is an international pioneer in the aerospace industry and a leader in designing, manufacturing and delivering aerospace products, services and solutions to customers on a global scale. We believe that it’s not just what we make, but how we make it that counts; promoting responsible, sustainable and inclusive business practices and acting with integrity. Our people work with passion and determination to make the world a more connected, safer and smarter place, on the ground, in the sky and in space.

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