Cyber security is the body of technologies, processes and practices designed to protect networks, computers, programs and data from attack, damage or unauthorized access. In a computing context, the term security implies cybersecurity.
Cyber Security Market at an estimated a Compound Annual Growth Rate (CAGR) of 10.6%, the global cyber security market is projected to grow from $122.45 billion in 2016 to reach $202.36 billion by 2021.
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Cyber security Market Drivers
Cyber security Restraints
Cyber security Opportunities
Cyber security Challenges
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Cyber security Research Methodology:
The research methodology used in the cyber security market report consists of secondary sources such as databases, encyclopaedias, and directories, which are used to identify and gather data that is useful for all-encompassing commercial study of the global cyber security market. To gain and verify vital information, and to evaluate the prospects of the cyber security market, primary sources like suppliers and experts from the industry were interviewed.
Cyber security Company Profiles
Based on region, APAC includes developing economies such as China and India, which are speedily deploying cyber security solutions. This is primarily owing to the digitization of businesses and implementation of cloud services by small, medium, and large enterprises in the region.
Based on industry vertical, the BFSI segment is projected to see the highest CAGR during the forecast period due to the growing implementation of web and mobile applications that are prone to advanced cyber-attacks.
Based on security type, the network security segment is projected to have the largest cyber security market size in 2016 owing to the need for strict compliance and regulatory requirements. During the forecast period, application security will grow at the highest CAGR, owing to the growth in Bring Your Own Device (BYOD) and Internet of Things (IoT) trend.
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