The global cyber security market, valued at USD 217.65 billion in 2021, is projected to expand at a CAGR of 9.7% throughout the forecast period, driven by rising cyber threats and increasing digital adoption. Global cyber security market size & share is currently valued at 217.65 billion in 2021 and is anticipated to generate an estimated revenue of USD 504.46 billion by 2030, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust CAGR of 9.7% over the forecasted timeframe, 2022 to 2030. Cyber security is the practice of safeguarding systems, networks, and programs from digital assaults. Applying productive cyber security measures especially provoking today as there are more gadgets than people and assaulters are becoming more inventive. A promising cyber security bearing has manifold strata of protection proliferated across the computers, networks, programs, or data that one envisages to keep secure. Several firms have executed cloud dependent technology solutions lately permitting consumers to acquire software programs, repository systems, and other resources through the internet framework rather than conventional spaces. This subsequently has escalated the opportunities for cyber-attacks and crime. Growing acquisition of cloud storage services amidst SMEs is anticipated to escalate the market demand for security solutions all through the estimated period. Wireless technologies, flexible programming, and other alterations depend on elevated connectivity to extensive and huge data sets, elevating the probability of data theft. This surge in ransomware and hacking assaults amongst firms and the escalated usage of IoT and BYOD trend is propelling the cyber security market forward. The market players are funding research and development and are relishing in marketing strategies such as alliances and collaborations, mergers & acquisitions, product launches, and advancements. Key companies in the cyber security market are mentioned below: AlgoSec BAE Systems Inc. Centrify Corporation Cisco Systems Inc. CyberArk DataVisor EMC Corporation F5 FortinetInc. F-secure Hewlett-Packard Enterprise IBM Corporation Intel Security LogRhythm Inc. Palo Alto Networks Proofpoint Inc. Qualys RevBits SentinelOne SonicWall Symantec Corporation and Wi-Jungle. Based on deployment mode, the cloud-based deployment segment dominates the market. This is because of growing market demand for repository application that require to maintain and protect data utilizing progressive safety perspectives. Based on end use, the defense and government end-user segment cites a larger share owing to the susceptible nature of data and information they carry.

Cyber Security Market Expected to Reach $504.46 Billion by 2030, Growing at a CAGR of 9.7%

The global cyber security market is projected to expand at a CAGR of 9.7% from 2022 to 2030, driven by rising cyber threats and increasing digital adoption, with a expected revenue of $504.46 billion by 2030.