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North America Cybersecurity Market Size By Organization (SME, Government, Large Enterprises), By Product Type (Identity, Authentication and Access Management (IAAM) [Access Management, Identify Access Management], Infrastructure Protection [Endpoint Protection, Email/Web Gateway, Security Information and Event Management (SIEM), Vulnerability Management, Cloud Security, Data Loss Prevention (DLP)], Network Security [Internet Service Provider Equipment, Virtual Private Network (VPN), Unified Threat Management (UTM), Firewall], Security Services [Implementation, Managed Security Services, Consultancy & Training, Hardware Support]), By Industry (Banking, Government, Manufacturing, Transportation, IT & Telecom, Insurance, Securities), Industry Analysis Report,, Industry Analysis Report, Regional Outlook (U.S., Canada), Growth Potential, Competitive Market Share & Forecast, 2019 - 2025

Published Date: November 2019 | Publisher: Graphical Research Report ID: GR1247 | Delivery : PDF

North America Cybersecurity Market is estimated to be over USD 65 billion in 2018 and is expected to register a lucrative growth between 2019 and 2025 with a CAGR of over 8%.

North America Cybersecurity Market, By Product Type

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The profound market growth is attributed to the increasing demand for cybersecurity solutions among enterprises. High internet penetration and wide-scale digitization of business operations have increased the risk of cyber threats and data breaches, pressurizing organizations in the region to adopt cybersecurity solutions. These solutions enable enterprises to secure digital assets and reduce the risk of financial losses by incorporating security measures such as network intrusion detection and virus containment.

The security services held the majority cybersecurity market share of over 60% in 2018. The growth can be attributed to the rising importance of security solutions for periodic maintenance and updates of cybersecurity systems. Security services ensure the proper functioning of corporate security networks by offering the latest anti-malware and anti-virus protection, ensuring zero system downtimes.

The large enterprise segment is projected to account for the majority share of over 55% in the market by 2025 due to the large-scale financial impact of cyberattacks, increasing budget allocations for cybersecurity systems Large organizations are rapidly targeted by malicious hackers for financial abuse and data thefts, causing huge financial losses and negative market image. According to the 2018 report on malicious cyber activity published by the U.S. Council of Economic Advisers, the cost of cyberattacks for a large U.S. enterprise (market cap greater than USD 15 billion) was more than USD 21 million per event. The increasing pressure to mitigate financial losses and maintain investor trust will further drive large enterprises toward the adoption of cybersecurity solutions.

The U.S. held over 85% of the total market share in 2018 due to the large-scale adoption of security solutions in the country, especially by the BFSI sector. Many leading banks in the U.S., such as the Bank of America, JP Morgan Chase, and Citi Bank, have deployed cybersecurity systems in their organizations to ensure 24/7 protection against cyberattacks and cut down the risk of financial abuse by hackers. The adoption of cybersecurity solutions in the U.S. has also been fueled by stringent government regulations on data security. In 2017, the federal civilian agencies reported over 35,277 cybersecurity incidents including web-based attacks, phishing attacks, and loss or threat of computing equipment. This led to the establishment of several cybersecurity laws including the Small Business Advanced Cybersecurity Enhancements Act of 2018 and the Federal Acquisition Supply Chain Security Act of 2018.

The cybersecurity vendors in the region are investing heftily in R&D for new product developments and acquiring startups to strengthen their product portfolio. For instance, in November 2018, Oracle acquired Talari Networks, a leading provider of Software-Defined Wide Area Network (SD-WAN) technology. Talari’s proprietary Failsafe technology is used by over 500 customers in over 40 countries, adding significant client’s in Oracle’s customer base. Some of the leading companies operating in the market include BAE Systems, Check Point Software, Cisco Systems, Inc., CyberArk Software Ltd., F-Secure Corporation, F5networks, Inc., FireEye, Inc., Fortinet, Inc., Hewlett-Packard, Ltd., IBM Corporation, Intel Corporation, McAfee LLC, Microsoft Corporation, Oracle Corporation, Palo Alto Networks, Inc., Proofpoint Inc. Rapid7, RSA Security, LLC., Sophos Group plc, Splunk, Inc, Symantec Corporation, and Trend Micro, Inc.

Frequently Asked Question(FAQ) :

High internet penetration and wide-scale digitization of business operations have increased the risk of cyber threats and data breaches, pressurizing organizations in the region to adopt cybersecurity solutions.
North America Cybersecurity Market is Segmented on basis of Product, Organization and Industry.
Some of the leading companies operating in the North America cybersecurity market include McAfee LLC., Proofpoint Inc., CyberArk Software Ltd., Check Point Software, Sophos Group Plc., RSA Security, LLC., BAE Systems, Cisco Systems, Inc., Symantec Corporation, F-Secure Corporation, Splunk, Inc

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North America Cybersecurity Market Size & Growth 2025 | Graphical Research

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