The global cyber security market is driven by factors such as increasing cybersecurity threats, increasing internet penetration, and increasing adoption of IoT solutions across different industry verticals. Industry players are developing advanced solutions to tackle cyber-attacks and threat such as firewall, encryption, identity and access management, security, and vulnerability management, which are further fuelling the growth of the market.
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The market for cybersecurity devices is primarily driven by increasing cyber-attacks worldwide. With the increasing number of cyber threats daily and evolving techniques by attackers, different organizations and consumers are compelled to adopt advanced security systems to tackle these threats.
Based on verticals the market is segmented into government and public utilities, aerospace, and defense, BFSI, manufacturing, retail, healthcare, IT and telecom, and others. Of all the verticals, cyber security solutions and services witness the highest demand from the BFSI sector.
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North America accounted for the major share in the cyber security industry in 2017, globally as the players in the region are continuously investing capital for the advancement of technology in cyber security.
Hewlett Packard Enterprise, McAfee Inc., IBM Corporation, Symantec Corporation, Trend Micro, Inc., Check Point Software Technologies Ltd., Palo Alto Networks, Inc., Cisco Systems, Inc., Fortinet, Inc., Sophos Ltd., F-Secure, Kaspersky Lab, Webroot, Inc., and LogRhythm, Inc. are some of the key players offering solutions and services for cyber security.
Source: VynZ Research