Global Internet Security Market Report, published by Variant Market Research, forecast that the global market is expected to reach $64.9 billion by 2025 from $33.0 billion in 2017; growing at a CAGR of 8.8% from 2017 to 2025. By geography, RoW, and Asia-Pacific are expected to grow at a CAGR of 10.9% and 10.4%, respectively, during the forecast period. With high usage of internet for sharing data, information, and applications, among others around the world, the threat of cyber-attacks and viruses has been increased. To tackle with these problems, variety of internet security technologies are used including cryptography, access control, authentication, and content filtering.
Internet Security Market (By Product and Service: Software, Hardware, and Services; By Technology: Authentication, Access Control, Content Filtering, and Cryptography; By Application: BFSI, Retail, Manufacturing, IT & Telecommunication, Education, Government, Aerospace, Defense & Intelligence, and Other Applications;By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025
High internet usage owing to wireless communication to drive the growth of the global market
The factors supporting growth of the global internet security market are rising cloud computing, high internet usage owing to wireless communication, and favorable government policies & regulations all over the world. However, lack of awareness, and pirated products use may act as a restraint for the growth of the market. Moreover, growth in newer viruses & attacks would provide several growth opportunities for the market in the future years.
Product and service, technology, application, and geography are the major segments considered in the global Internet Security market. By product and service, the market is bifurcated into software, hardware, and services. By technology, the market is categorized into authentication, access control, content filtering, and cryptography. Application comprises BFSI, government, retail, manufacturing, IT & telecommunication, education, aerospace, defense & intelligence, and other applications. By geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America covers the U.S., Canada, and Mexico. UK, Russia, Germany, Netherlands, France, and Rest of Europe are analyzed under the European market. China, India, Japan, Australia, Singapore, and Rest of Asia-Pacific are included under the Asia-Pacific Market While RoW is bifurcated into South America, Middle East, and Africa.
Software accounted for the largest market share in theproduct and service segment
Software accounted for the largest market share in 2017, in the product and servicesegment, and are expected to continue its dominance during the forecast period 2017 – 2025. The growth is attributed to the fact that individual software suits can safeguard independent devices from malware and virus attacks.
Authentication accounted for the largest market share in thetechnologysegment
Authentication accounted for the largest market share in 2017, in the technology segment. The growth is attributed to the fact that North America is a forerunner in the adoption of Internet security technologies and generates the highest revenue for authentication technology.
BFSI accounted for the largest market share in theapplication segment
BFSI accounted for the largest market share in 2017, in the application segment, and is expected to continue its dominance during the forecast period 2017 – 2025. The growth is attributed to rise in threat of internet security day by day as increasing number of people and organizations are connecting to the internet worldwide through World Wide Web, email, VoIP, and other services. Thus, it is the responsibility of various banking, financial services, and institutions (BFSI) to ensure that their systems & networks are secure and ready to face new challenges.
North America dominated the global market with highest market share over the forecast period
North Americadominated the global market with largest market share of 40.1% in 2017 and expected to continue its dominance during the forecasted period. Various public and private firms in North America have consistently faced the issue of cyber-attacks. The electric and energy utilities, especially in the North American region are prone to cyber-attacks launched by terrorists and criminals. In such a scenario, it has become mandatory for private as well as government organizations to assign additional resources for securing their networks.
The major players operating in the market are Intel Corporation, Symantec Corporation, Cisco Systems, Inc., IBM Corporation, Trend Micro Incorporated, Microsoft Corporation, Hewlett-Packard Company, Kaspersky Lab, Sophos Ltd., and Dell, among others.