Latest News- Cyber Security Market: Government is expected to lead the End-user segment during 2025-2029

The Cyber Security Market is being driven by Increase in use of mobile devices

The Cyber Security Market is expected to grow at a CAGR of 12.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 164 billion. The Internet of Things (IoT) represents the interconnection of various devices, facilitating the exchange of substantial data, predominantly stored in the cloud. This data necessitates organization for efficient data analysis and presentation. IoT enhances connectivity, addressing critical situations more effectively. Advanced features, such as mobile application control for home devices like thermostats, are anticipated in the future. Wearable devices are expected to provide additional functionalities, including tracking stairs climbed, calories burned, and distance traveled. IoT fosters seamless communication between systems, devices, and services, enhancing overall operational efficiency. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Government
  • BFSI
  • ICT
  • Manufacturing
  • Others
• Deployment
  • On-premises
  • Cloud-based
• Product
  • Solution
  • Services
• Sector
  • Large enterprises
  • SMEs
• Type
  • Cloud
  • End-point and IOT
  • Network
  • Application
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America
    • Brazil

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in use of mobile devices
• Implementing firewall as disruptive deception capability
• Increasing IT security budget

However, the market also witnesses some limitations, which are as follows:

• High cost of deployment
• Complex IT infrastructure
• Integration issues

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Market Scope in Cyber Security Market Research Report

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Research Analysis Overview

The Cyber Security Market is experiencing significant growth due to the increasing adoption of digital technologies such as Big Data Analytics, Cloud Computing, and E-commerce platforms. These advancements bring new cyber threats, necessitating robust security measures. Regulatory compliance, Data Protection, and Machine Learning are key focus areas. Remote work and Digital Transactions add complexity, while Artificial Intelligence and Blockchain offer potential solutions. Cyber Threats continue to evolve, requiring ongoing vigilance and innovation.

Market Research Overview

The IT consulting and other services market encompasses businesses providing IT consulting, system integration, application, data processing, business process outsourcing, infrastructure, and Internet services. According to Technavio, market growth is attributed to escalating government investments in advanced IT infrastructure to address the skills gap in public sector IT, the proliferation of Big Data Analytics and Cloud Computing, the increasing importance of PCI DSS compliance, the expansion of Open Commerce, and the escalating cyber threats necessitating regulatory compliance. These factors collectively drive the demand for IT consulting and information management services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/