The global Cybersecurity market size is projected to grow from USD 217.9 Billion in 2021 to USD 345.4 Billion by 2026, recording a Compound Annual Growth Rate (CAGR) of 9.7% from 2021 to 2026. The market’s growth can be attributed to the increasing awareness and rising investments in cybersecurity infrastructure across global organizations operating across verticals.
Major players, namely, include IBM (US), Cisco (US), Check Point (Israel), FireEye (US), Trend Micro (Japan), NortonLifeLock (US), Rapid7 (US), Micro Focus (UK), Microsoft (US), Amazon Web Services (US), Oracle (US), Fortinet (US), Palo Alto Networks (US), Accenture (Ireland), McAfee (US), RSA Security (US), Forcepoint (US), Sophos PLC (UK), Imperva (US), Proofpoint (US), Juniper Network (US), Splunk (US), SonicWall (US), CyberArk (US), F-secure (Finland), Qualys (US), F5 (US), AlgoSec (US), SentinelOne (US), DataVisor (US), RevBits (US), Wi-Jungle (India), BluVector (US), Aristi Labs (India) and Securden (US). These players have adopted various growth strategies, such as partnerships, agreements & collaborations, new product launches & product enhancements, and acquisitions to expand their presence in the cybersecurity market. Partnerships, agreements & collaborations, and new product launches have been the most adopted strategies by the major players from 2018 to 2021 to innovate their offerings and broaden their customer base.
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IBM (US) has been acknowledged as one of the leading vendors of cybersecurity solutions. The company’s broad range of solutions provides security across network, endpoint, and cloud. Its next-generation IBM Security Guardium platform consists of 3 major elements - Offensive Security Services, Threat Management Services, Identity Access Management Services and Infrastructure and Endpoint Services The company offers support and maintenance and professional services, which include planning, designing, and deploying effective security solutions. IBM delivers its solutions to SMEs and large enterprises across verticals, such as government, BFSI, healthcare, retail, electric utilities, oil and gas, and education.
Oracle (US) was incorporated in 1977 and is headquartered in California, US. The company caters to a broad spectrum of products, solutions, and services designed to meet requirements of corporate IT environments, such as platforms, applications, and infrastructure. It is best known for its Oracle database software that is a relational database management system. It also caters to various customers across the globe. Oracle’s product portfolio comprises autonomous databases, developer tools, engineering systems, IT infrastructure, Java, and middleware. In February 2020, Oracle and Microsoft expanded their cloud collaboration with a new cloud interconnect location in Amsterdam, Netherlands. The new interconnect location would enable these businesses to share data across applications running in Microsoft Azure and Oracle Cloud.
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Cybersecurity Market with Covid-19 Impact Analysis by Component (Software, Hardware, and Services), Software (IAM, Encryption, APT, Firewall), Security Type, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2026
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