Houston, TX -- (SBWIRE) -- 02/05/2018 -- The cyber security market is divided into components (solutions and services), security type, deployment mode, organization size, vertical and geographical area. The managed services sector is expected to grow at the highest annual average growth rate during the forecast period and is expected to generate the highest demand as the need for organizations to comply with various regulatory compliance around the world grows.

The main types of security in cybersecurity are network security, endpoint security, application security, cloud security, wireless security, and others (database security and web security). The application security segment is expected to grow to the highest CAGR for the forecast period due to the emergence of the Internet of Things (IOT) and Bring Your Own Device (BYOD).

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The global market for cyber security is expected to increase from US$11.9 billion in 2016, to US$18.5 billion by 2026, representing a CAGR of 4.51%. On a cumulative basis, the global spending on cyber security sector is estimated to be US$171.8 billion during 2016-2026. Over the forecast period, the Network Security segment is expected to account for 43% of the market, while Data Security and Identity and Access segments (includes investment in ancillary and support activities) are expected to account for shares of 25% and 17%. The remaining 15% of market share is expected to be accounted for by the cloud security segment.
The cyber security market in the North American region is estimated to account for 57% of the global expenditure on the sector. Asia-Pacific and Europe are also expected to account for a significant portion of the total cyber security market during the forecast period, with shares of 20% and 12% respectively.
The cyber security market in the North American region is estimated to account for 57% of the global expenditure on the sector. Asia-Pacific and Europe are also expected to account for a significant portion of the total cyber security market during the forecast period, with shares of 20% and 12% respectively.

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Latin America, the Middle East, and Africa cumulatively account for 11% of global cyber security expenditure.

Increased threats of terrorist attacks, the need to secure maritime and offshore installations, and the growing vulnerability of IT and communication networks to hacking are expected to drive expenditure. Moreover, accelerating risks of terrorist attacks is also driving investments in the global cyber security market. Furthermore, dynamic nature of cyber threats warrants increased spending on innovative technologies, which has resulted in numerous initiatives undertaken by governments and military worldwide.

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Determine prospective investment areas based on a detailed trend analysis of the global cyber security market over the next ten years

Gain in-depth understanding about the underlying factors driving demand for different cyber security segments in the top spending countries across the world and identify the opportunities offered by each of them

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Identify the major channels that are driving the global cyber security market, providing a clear picture about future opportunities that can be tapped, resulting in revenue expansion

Channelize resources by focusing on the ongoing programs that are being undertaken by the defense ministries of different countries within the global cyber security market

Make correct business decisions based on thorough analysis of the total competitive landscape of the sector with detailed profiles of the top cyber security providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available