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Cyber Crime & Security : Global Trends, Facts and Figures

The Cyber Crime & Security Market is a very modern business sector that is concerned about the safety of communications and information technology. With the growing number and intensity of cyberattacks across various sectors, the need for security solutions and components has been growing. It involves hardware, software, and services for the prevention, detection, and countering of cyber threats all over the world.

Cyber Crime & Security Parts Market: Semantics and Characteristics
-The global cybercrime & security market is in demand and is poised for rapid development. During the previous cycle, the following values were recorded:
-The market in 2023 has already reached a value of 180 billion USD, which will exceed 400 billion USD, growing by 10–12% during the forecast period.
-Reliance on cloud computing, IoT, and telecommuting has led to demand for cybersecurity solutions.
-The main regional markets are North America, Europe, and Asia, with the US, China, and India leading this subgroup of nations.


Cyber Crime and Security Industry


Overview

The Cyber Crime & Security Market is a very modern business sector that is concerned about the safety of communications and information technology. With the growing number and intensity of cyberattacks across various sectors, the need for security solutions and components has been growing. It involves hardware, software, and services for the prevention, detection, and countering of cyber threats all over the world.

Cyber Crime & Security Parts Market: Semantics and Characteristics
-The global cybercrime & security market is in demand and is poised for rapid development. During the previous cycle, the following values were recorded:
-The market in 2023 has already reached a value of 180 billion USD, which will exceed 400 billion USD, growing by 10–12% during the forecast period.
-Reliance on cloud computing, IoT, and telecommuting has led to demand for cybersecurity solutions.
-The main regional markets are North America, Europe, and Asia, with the US, China, and India leading this subgroup of nations.

Types & Definition

The Cyber Crime & Security Industry encompasses the technology, solutions, and services aimed at preventing unauthorized access to digital assets, cyberattacks, malware, and any other threat. Such include hardware (e.g., firewall, security chip), software (e.g., antivirus, intrusion detection system), and services (e.g., penetration testing, risk assessment, consulting).

1. Network-Based Security Solutions: Firewalls, Virtual Private Networks, and Intrusion Detection and Prevention Systems on IPS

2. Endpoint Security - Antivirus, encryption applications, mobile security solutions, and many more

3. Application-Specific Security - WAF, penetration testing tools

4. Cloud-Based Security - IAM and security web gateways, and so on.

5. Security Services - MSS Security Consulting and Threat Analysis

Industry Trends

1. Increase in the Spending on Cybersecurity - More and more companies are increasing spending on the building of the firm’s cybersecurity architecture.

2. Expansion of Cloud Security - Due to the aggressive cloud adoption trend, organizations are now more focused on safeguarding cloud infrastructures.

3. Increasing Demand for IoT Security - With more IoT devices, more vulnerabilities come along with them as well. Therefore, to safeguard the installed units, the market demands more IoT securities.

4. Policy and Regulation - Countries around the world are enacting stringent laws to enhance cybersecurity, which is affecting the industry.

Facts & Insights

Increase in Ransomware Attacks - Ransomware attacks have grown by 150% over the last three years, and such malicious threats are directed against enterprises and critical infrastructures.

Zero trust security model implementation - Organizations around the world are moving to a zero trust security model where every access to resources is verified.

Application of AI and Machine Learning in Cybersecurity - The use of AI with machine learning for detecting and responding agilely to complicated cyber threats is fast becoming common.

The development of quantum computing has led to a rise in the need for quantum-safe cybersecurity.There are investments by many cybersecurity companies in technologies to combat quantum computing threats after such future risks occur.

Market Segment

The market is divided into:

By Segment - includes hardware, software, and services

By Platform - On-site, Cloud, and Hybrid

By Size - SME, Large

By Use - Banking, Insurance, Health, Telecommunication, Retail, Production, Public Sector

Industry Leader

1. Cisco Systems, Inc.

2. Palo Alto Networks, Inc.

3. Fortinet, Inc.

4. Check Point Software Technologies Ltd.

5. IBM Corporation

6. Symantec Corporation (Broadcom Inc.)

7. McAfee, LLC

8. Trend Micro, Inc.



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Frequently Asked Questions

This market deals with the development of security components and solutions against cyber threats.
Cyber attacks, cloud computing, IoT, and more stringent requirements are areas of growth in this market.
The primary markets are North America, Europe, and Asia-Pacific, with the United States, China, and India as key players.
Lap Shee Yung collaborates with leading brands in the consumer electronics industry, such as Cisco, Palo Alto Networks, IBM, Fortinet, and Checkpoint, to solve complex problems.
With the increase in cyber threat incidents, it is anticipated that the global market will grow by more than $400 billion by the year 2030.