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North America Cybersecurity Market to be Worth more than $125 bn by 2026
Published Date: 2020-12-18
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According to the Graphical Research new growth forecast report titled “North America Cybersecurity Market Size, 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 Organization (SME, Government, Large Enterprises), By Industry (Banking, Government, Manufacturing, Transportation, IT & Telecom, Insurance, Securities)”, Estimated To Exceed USD 125 Billion By 2026
The North America cybersecurity market growth is attributed to the rapidly increasing demand for network security solutions to secure IoT-enabled devices. The increasing penetration of such devices and rising trend of Bring-Your-Own-Device (BYOD) in business enterprises have profoundly surged the need for cybersecurity solutions in the region. According to the 2019 report published by the security firm - Symantec, the U.S. ranked second in terms of IoT related cyber-attacks with more than 11% of the global IoT attacks originating in the country. This has further fueled the need for cybersecurity solutions.
The infrastructure protection segment is expected to register an accelerated growth over the forecast period at a CAGR of over 8%. These solutions protect expensive business-critical IT infrastructures from malicious attacks and cyber-threats, safeguarding enterprises against intrusions and infrastructure down times. The growing trend of Bring Your Own Devices (BYOD), such as employee’s personal tablet and smartphones, have also accelerated the adoption of infrastructure protection tools to ensure devices with sensitive enterprise data are not compromised.
The government enterprises segment is projected to exhibit a growth rate of nearly 10% by 2026 in the North America cybersecurity market The government enterprises holds highly critical and sensitive user data, which can be misused by hackers or unauthenticated users to cause severe financial and operational losses. Hence, government agencies are proactively adopting cybersecurity solutions for mitigating such risks.
The manufacturing sector is anticipated to exhibit an accelerated growth from 2020 to 2026, growing at a CAGR of around 5%. The advent of Industry 4.0 and the rapid adoption of digital business management tools such as Enterprise Resource Planning (ERP) have made manufacturing enterprises prone to cyber-attacks. Therefore, manufacturing firms are deploying cybersecurity solutions to prevent disruption in their production facilities and reduce losses.
Some of the key vendors in the North America cybersecurity 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.
The North America cybersecurity market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2020 to 2026 for the following segments:
North America Cybersecurity Market, By Product Type
- Identity, Authentication and Access Management (IAAM)
- Access Management
- Identify Access Management
- Infrastructure Protection
- End Point Protection
- Email/Web Gateway
- Security Information and Event Management (SIEM)
- Vulnerability Assessment
- Cloud Security
- Data Loss Prevention (DLP)
- Network Security
- Internet Service Providers (ISPs)
- Virtual Private Network (VPN)
- Unified Threat Management
- Security Services
- Managed Security Services
- Consulting & Training
- Hardware Support
North America Cybersecurity Market, By Organization Type
- Large Enterprise
North America Cybersecurity Market, By Industry
- IT & Telecom
The above information has been provided for the following regions and countries:
- North America