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Cybersecurity Market Worth $231.94B by 2022

According to a new market research report "Cybersecurity Market by Solution (IAM, Encryption, DLP, UTM, Antivirus/Anti-Malware, Firewall, IDS/IPS, Disaster Recovery, DDOS Mitigation, SIEM), Service, Security Type, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the Cybersecurity Market is expected to grow from $137.85B in 2017 to $231.94B by 2022, at a Compound Annual Growth Rate (CAGR) of 11.0%.

The objective of the report is to define, describe, and forecast the cybersecurity market on the basis of components (solutions and services), security types, deployment modes, organization sizes, verticals, and regions, and also to provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).

The research methodology used to estimate and forecast the cybersecurity market begins with capturing data on key vendor’s revenues through secondary sources, such as company websites, press releases, annual reports, TechTarget reports, Cloud Security Alliance reports, SC magazine, and SANS Institute studies. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global cybersecurity market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, industry experts, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of primary profiles is depicted in the figure below:

Credit: MarketsAndMarkets

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