Cyber Security Market in North America | Leading Segments, Trends, Drivers and ChallengesAO Kaspersky Lab, Booz Allen Hamilton Holding Corp., Broadcom Inc., among the key contributors
The cyber security market in North America is expected to grow by $ 66.66 billion, accelerating at a CAGR of almost 15.54% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Cyber Security Market in North America: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The report segments the market by Deployment (On-premise and Cloud) and Geography (US, Canada, and Mexico). Each market segment is analyzed for past performance leading to future growth projections based on current market scenario.
- 72% of the market growth will originate from US during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Cyber Security Market in North America size.
Cyber Security Market in North America: Top Trends, Drivers, Challenges to drive Market Recovery
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.
- A key market driver for the Cyber Security Market in North America will be increase in use of mobile devices.
- Implementing firewalls as a disruptive deception capability is another factor that will be instrumental in driving market growth during the forecast period.
- High cost of deployment is a challenge that needs to be overcome to persist on the path to growth and recovery from the impact of the pandemic.
Cyber Security Market in North America: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- AO Kaspersky Lab, Booz Allen Hamilton Holding Corp., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Corporation Service Co., Fortinet Inc., General Dynamics Corp., McAfee LLC, and Northrop Grumman Corp. are some of the major market participants.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of 15.54%.
- What is the incremental growth of the market?
The market is expected to grow by $ 66.66 bn through 2021-2025.
- What is a key factor driving this market?
Increase in use of mobile devices will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
US, Canada, and Mexico are the key regions featured in this research report.
- Which is the leading geographic region for this market:
72% growth will originate from US
- Who are the leading market vendors?
The leading vendors in this market are AO Kaspersky Lab, Booz Allen Hamilton Holding Corp., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Corporation Service Co., Fortinet Inc., General Dynamics Corp., McAfee LLC, and Northrop Grumman Corp.
- What are the market segments covered in this report?
The market is segmented by Deployment (On-premise and Cloud) and Geography (US, Canada, and Mexico)