Synopsis

The economic crisis and business uncertainty resulting from the coronavirus pandemic is likely to result in a contraction of cyber security expenditure in 2020 before a return to positive growth in 2021. The global market for cyber security technologies and services was $115.4 billion in 2018 and grew to $128.6 billion in 2019. WA currently forecasts that the market will grow at a slower average rate of 6.2% per year to 2023 due to the economic consequences of the coronavirus pandemic in 2020.

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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:

• Global Cyber Security Market Size by Technology & Service 2019

• Global Cyber Security Market Forecast 2019-2023 by Technology & Service

• Identification of over 95% of the industry supply base

• Evaluation of historical expenditure and growth of technology and services from 2017-2019

• Evaluation of technology and service lifecycle maturity

• Identification of the industry forces influencing cyber expenditure and the statistical relationship between them

• Application of industry forces and lifecycle analysis to an industry forecast model

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