Synopsis

Expenditure on cyber security will continue to increase despite the current economic slowdown. The market will grow from $128.6 billion on 2019 to $162 billion in 2023.  Investment in new and improved technologies is increasing. Vendors seeking to maintain a competitive edge are investing in improved detection, faster response and increasing levels of automation. The fast rate of change in digital technology and new threats will continue to encourage new start-ups to meet emerging customer requirements. There is no sign that the buoyant cyber security start-up community will slow down as start-ups focus on cloud based delivery models and AI enabled solutions

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About the Project

Research for Cyber Security Market Analysis began in April 2019. The research process included building an industry database that captures financials and products for over 1,800 cyber security vendors and service providers. Data was generated through using secondary information sources, analyst briefings from leading vendors, informal meetings with smaller start-ups and attendance at a wide range of industry events from exhibitions to specialist cyber security shows. The data analysis began in February 2020 and was concluded in April 2020.

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Project Goals:

• Provide a clear segmentation of the cyber security ecosystem, the vendors, and trends impacting future market growth

• Establish industry benchmarks for growth and profitability

• Provide a framework for product lifecycle management and product marketing

• Identification and classification of cyber security vendors

• Assess industry growth rates and dynamics

• Establish industry benchmarks for growth and profitability

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