Internet Security Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2020-2024
Technavio has been monitoring the internet security market and it is expected to grow by USD 20.41 bn, accelerating at a CAGR of almost 10% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Internet Security Market: Key Trends to impact market growth
The growing need for secure and compliant cloud solutions is one of the key internet security market market trends. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.
Internet Security Market: Top Drivers to Boost Demand
The rapid adoption of BYOD policy is one of the primary factors driving the growth of the internet security market. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business
Vendor Analysis: AO Kaspersky Lab, Cisco Systems Inc. and Fortinet Inc. are key growth contributors
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. 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, Cisco Systems Inc., Fortinet Inc., Hewlett Packard Enterprise Co., Intel Corp., International Business Machines Corp., NortonLifeLock Inc., Palo Alto Networks Inc., Sophos Ltd., and Tata Consultancy Services Ltd. are some of the major market participants.
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Internet Security Market: Key Highlights of the Report for 2020-2024
Technavio has been monitoring the global internet security market is expected to grow by USD 20.41 billion accelerating at a CAGR of over 10% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
Internet Security Market: Segmentation by Solution
During 2019, the products segment accounted for the major share of the Internet Security Market. The revenue of the products segment is likely to increase due to an increase in sales of hardware security components. The year-over-year (YoY) growth rate of hardware security components is expected to accelerate owing to the rapid adoption of hardware components providing integrated security, including firewall and intrusion detection and prevention (IDP), for ensuring the security of network infrastructures. There has also been a spike in phishing attacks, malicious spams, and ransomware attacks as attackers are using COVID-19 as an opportunity to imitate brands, thereby misleading employees and customers. Therefore, the above mentioned factors have increased the demand for Internet security products, which will drive market growth during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the Internet security market size.
Internet Security Market: Segmentation by Geography
APAC will offer several growth opportunities to market vendors during the forecast period. The growing adoption of mobile devices, such as smartphones, tablets, and laptops and the rapid adoption of the IoT in countries like China, India, Thailand, and Singapore will significantly drive Internet security market growth in this region over the forecast period. 36% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for Internet security in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Internet Security Market: 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, Cisco Systems Inc. and Fortinet Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report
