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The Global Cyber Security Market 2016-2026

  • December 2016
  • -
  • Strategic Defence Intelligence (SDI)
  • -
  • 167 pages

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The Global Cyber Security Market 2016-2026

Summary

Technology used by cyber offenders, both state and non-state actors, has evolved much faster than governments / agencies have been able to anticipate. Also, since the cyber-crime database on attacks, penetrations, causes, and consequences is underdeveloped, cyber defenses are not adequate to counter systematic cyber-attacks by cyber criminals. Moreover, cyber-attacks are now not only limited to nations but have extended to terrorist groups, organized crime, hackers, industrial spies, and foreign intelligence services. As such, the changing dynamics of cyber threats and increased demand for cyber weapons is expected to stimulate growth over the forecast period.

The market for cyber security is expected to increase from US$11.9 Billion in 2016, to US$18.5 Billion by 2026, representing a CAGR of 4.51%. This is primarily because the major markets, including the US and countries in the Asia-Pacific and Europe, are expected to prioritize spending on cyber security systems, an element of defense spending that was not given much importance until four years ago.

North America accounts for 57% of the market, which is the largest share, while the Asia Pacific region accounts for 20% of the overall market which is the second highest share of investment in the sector. Europe is expected to comprise 12% of the total market followed by the Middle East at 8%. Latin America and Africa together comprise 3% of the global market with the major portion of spending in these regions coming from Brazil and South Africa.

The report “The Global Cyber Security Market 2016-2026” offers detailed analysis of the global cyber security market over the next ten years, and provides market size forecasts. Furthermore, it covers key technological and market trends in the industry, and analyzes factors influencing demand for Cyber Security. Additionally, the report also highlights challenges faced by industry participants.

In particular, it provides an in-depth analysis of the following:
- Overview: Snapshot of the Cyber Security Market during 2016–2026, including highlights of the demand drivers, trends and challenges. It also provides a snapshot of the spending with respect to regions as well as segments.
- Market Dynamics: Insights into the technological developments in the cyber security Market and a detailed analysis of the changing preferences of governments around the world. It also analyzes changing industry structure trends and the challenges faced by the industry participants.
- Segment Analysis: Insights into the cyber security market from a segmental perspective and a detailed analysis of factors influencing the market for each segment.
- Regional Review: Insights into modernization patterns and budgetary allocation for top countries within a region.
- Regional Analysis: Insights into the cyber security market from a regional perspective and a detailed analysis of factors influencing the market for each region.
- Trend Analysis – Key Defense Market: Analysis of the key markets in each region, including cyber security segments expected to be in demand in each region.
- Key Program Analysis: Details of the top three programs in each segment expected to be executed during the forecast period.
- Competitive Landscape Analysis: Analysis of competitive landscape of the global cyber security industry. It provides an overview of key defense companies, together with insights such as key alliances, strategic initiatives and a brief financial analysis.

Companies mentioned in this report: Northrop Grumman Corporation, Raytheon, Lockheed Martin Corporation, General Dynamics Corporation, Thales, BAE Systems, Booz Allen Hamilton, CACI International, NetCentrics, ManTech International Corporation, Camber Corporation, Panda Security, Salient CRGT, KeyW Holding Corporation, Airbus DS Communication, Digital Management, Inc., Checkpoint Software Technologies Ltd.

Key Findings

- The global market for cyber security is expected to increase from US$11.9 billion in 2016, to US$18.5 billion by 2026, representing a CAGR of 4.51%. On a cumulative basis, the global spending on cyber security sector is estimated to be US$171.8 billion during 2016-2026. Over the forecast period, the Network Security segment is expected to account for 43% of the market, while Data Security and Identity and Access segments (includes investment in ancillary and support activities) are expected to account for shares of 25% and 17%. The remaining 15% of market share is expected to be accounted for by the cloud security segment.
- The cyber security market in the North American region is estimated to account for 57% of the global expenditure on the sector. Asia-Pacific and Europe are also expected to account for a significant portion of the total cyber security market during the forecast period, with shares of 20% and 12% respectively.
- Latin America, the Middle East, and Africa cumulatively account for 11% of global cyber security expenditure.

Synopsis

Increased threats of terrorist attacks, the need to secure maritime and offshore installations, and the growing vulnerability of IT and communication networks to hacking are expected to drive expenditure. Moreover, accelerating risks of terrorist attacks is also driving investments in the global cyber security market. Furthermore, dynamic nature of cyber threats warrants increased spending on innovative technologies, which has resulted in numerous initiatives undertaken by governments and military worldwide.

Reasons To Buy

- Determine prospective investment areas based on a detailed trend analysis of the global cyber security market over the next ten years
- Gain in-depth understanding about the underlying factors driving demand for different cyber security segments in the top spending countries across the world and identify the opportunities offered by each of them
- Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others
- Identify the major channels that are driving the global cyber security market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion
- Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global cyber security market
- Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top cyber security providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available

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