Cyber Security Services Market: Cyber-Attacks and Developments in IT Infrastructure Renders Positive Growth Rate

Cyber Security issues have cropped up across all organizational longitudes that has made the addressable of cyber security issues indispensable. The global market for cyber security services pervades all the industries due to its utility in administering processes with a high level of swiftness. The IT infrastructure is one of the most valued asset of a company and hence, they are entitled to safeguard its security and execution. This is proliferating the market for cyber security services and has trickled down as an important standpoint for various market players. The increasing security threats due to the storage of data across various IT channels has made it imperative for various industries to subscribe to cyber security services. The entire market is expected to escalate to respectable levels owing to the prominence of the cyber security service.

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Transparency Market Research (TMR) prognosticates that the market to rise at a robust CAGR of 15.6% over the forecast period from 2017-2026 reflecting the expansive scope of growth within the market. The market value in terms of revenue is estimated to reach US$ 63,524.5 mn by the end of 2026. This is an important indicator for market players to gauge the lucrativeness of the market over the coming years.

This blog presents integrated research on the interplay of various market elements that are expected to dictate the global landscape. Moreover, the projections mentioned here are in sync with the contemporary trends that are expected to last over the forecast period. A pragmatic research methodology points to respectable growth stakes of the market.

Which Segments Are Poised to Earn High Value Points for the Global Market?

In terms of application, the identity and access management is expected to remain at the helm of development for the market in the coming years. It is apparent that the services offered within this segment span across most of the industries which is a forerunner to the flowery growth in the segment. TMR estimates that market value for the segment would cross US$ 26,700 Mn by the end of 2026, registering a CAGR of 16% over the forecast period. Furthermore, based on end-use the dominance is expected to rest with the discrete manufacturing segment in the coming times. The segment is expected to expand at a CAGR of 15.9% and currently holds one-fourth of the market share for end-use category. Each product within the market for cyber security systems offers practical solutions for specialty industries which adds to the wellness of the market.

What makes North America the Leading Regional Segment within the Market?

North America has witnessed an increasing toll of cybercrimes which has awakened the various stakeholders to counter the threat from such mishaps. This is one of the prime contributors to the growth of the market in this region. The government has taken responsible steps to enforce data security laws and establish strict compliance standards, which is another vital standpoint for the growth of the market. There is also a rising trend of adoption of cloud-based services, thus, further bolstering the demand in the market. Asia Pacific excluding Japan (APEJ) is also an ardent regional segment where a high awareness quotient is projected to expand the market.

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The market is expected to stiffen in terms of competition due to the research initiatives of various players towards gaining a greater market share. The contemporary market players for the global market Assuria, Symantec, IBM Corporation, Optiv, Tata Consultancy Services, Secureworks, Accenture, Proficio, Honeywell, and CNS Group.

Cyber Security Services Market: Growing Complexity of Network Infrastructure Creating Heightened Need for Cyber Security Services

Transparency market research TMR in its latest report on cyber security services Market states that players with in this market are increasingly concentrating on handling the continuously Rising complexity in it Network. Players within the market are also directing their efforts on the development of a security infrastructure which is improved and efficient by working closely with hybrid Cloud, public Cloud, private clouds, mobile devices, and software applications. Some of the leading companies or Windows within the cyber security services market are Assuria, Tata Consultancy Services, Symantec, CNS Group, Secureworks, IBM Corporation, Proficio, Accenture, Optiv, and Honeywell.

According to TMR, the global cyber security services Market will witness the high growth During the period from 2017 to 2026, exhibiting a 15.6% CAGR and reach US$63,524.5 mn by the end of 2026. On the basis of geography North America has been leading in the manager cyber security services market and will continue to do so on account of the US being the base for many of the leading companies operating in this market. Joseph is anticipated to be the second leading regional market for managed cybersecurity services on account of the rising incidences of cyber-crimes which are targeting small as well as big companies, growing adoption of cloud-based services, and the establishment of very stringent data security laws. The need to adhere to regulatory compliances also boost the demand for managed cyber security services.

Asia-pacific excluding Japan is also anticipated to witness tremendous growth in the next few years on account of the Rising awareness about the need for cyber security services as well as increasing incidences of cyber-crimes. The rising employment of private and public cloud in China and India coupled with rapid development of IT infrastructure are also expected to be behind the growth of the Asia-pacific excluding Japan market for managed cyber security services. On the basis of end-user, the discrete manufacturing sector will emerge as the key user of managed cyber security services. By application, the identity and access management segment is anticipated to within the market.

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According to the lead author of this report, the growing adoption of cloud computing and data analytics by organizations and businesses has led to an increase in the demand for managed cybersecurity services. With the growing complexity of network infrastructure, a lack of skilled IT professionals, and insufficient capital have led to the outsourcing of security tasks by most companies. Specialized third-party service providers are being picked by businesses and organizations for unified cyber solutions that offer advanced protection from threats as well as real-time security intelligence. Some of the trends today which are aiding the growth of the global manage cyber security services are high use of cloud and the trend of bring your own device.