(FS.8.07) Cybersecurity

[New] The government and defense sector is anticipated to dominate the cybersecurity market in the coming years.
[New] Risk quantification software designed for cybersecurity and technology risk has advanced over the past decade enabling very efficient risk analysis, management, and reporting.
[New] The consistent growth in cybercrimes and rapidly increasing demand in the Indian cybersecurity segment will require 1 million cybersecurity professionals by 2020.
[New] The Indian cybersecurity market will still just be a blip on the radar screen for global cybersecurity spending, which is predicted to exceed $1 trillion cumulatively from 2017 to 2021.
[New] The cybersecurity market in India is forecasted to exceed $3 billion USD by 2022, at a compound annual growth rate of 15.6%.
COVID-19 will have impact on the global cybersecurity market, which is expected to grow from $183.2 billion in 2019 to $230.0 billion by 2021, at a Compound Annual Growth Rate of 12.0% during the forecast period.
The global automotive cybersecurity market is expected to grow at an unprecedented rate, from $1.34 billion in 2018 to $5.77 billion by 2025.
The global cybersecurity as a service market is expected to register a CAGR of 12.6% in the forecast period (2020-2025).
The overall revenue from cybersecurity software is expected to reach $25.1bn this year, a 4.8% year-on-year growth.
By 2023, 20% of cybersecurity incidents will stem from Smart City IoT device deployments, which will lead to double-digit increases in cybersecurity software and staff training budgets.
The global Cybersecurity market is valued at million USD in 2018 and is expected to reach million USD by the end of 2024, growing at a CAGR of between 2019 and 2024.
Global spending on cybersecurity market products and services will exceed $1 trillion cumulatively between 2017 and 2021.
Global spending on cybersecurity measures is expected to exceed $1 trillion over the next two years.
Cumulative global spending on cybersecurity products and services will exceed one trillion US dollars over the next five years with multiple trillions of dollars in cybercrime damages realized through 2025.
In 2018, $6.4 billion in VC investment went to cybersecurity companies - a record of investment that could be exceeded by the end of 2019.
61% of U.S. respondents cite lack of qualified talent as a reason why 4 million cybersecurity jobs will be left unfulfilled by 2021, while only 33% of UK women cite lack of qualified talent as a barrier.
Cumulative global spending on cybersecurity products and services will exceed 1 trillion US dollars over the next 5 years with multiple trillions of dollars in cybercrime damages realized through 2024.
The AI cybersecurity market is expected to rise to $35 billion by 2024, as businesses identify the dangers that are challenging to manage without advanced technology.
As public and private enterprises look to new cybersecurity solutions to mitigate the risks, global cybersecurity spending is expected to grow to $133.8 billion by 2022.
With 3.5 million unfilled cybersecurity jobs expected globally by 2021, many IT professionals are likely looking to bolster their security credentials or switch to cybersecurity from other fields.
The global market for energy IT and cybersecurity software and services will surpass $19 billion in 2020 and reach more than $32 billion in 2028.
Sixty-three percent of organizations will deploy artificial intelligence in at least one area of cybersecurity this year.
The global annual market for energy IT and cybersecurity for software and services is projected to surpass $19 billion in 2020 and reach more than $32 billion in 2028.

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Last updated: 28 May 2020