Tuesday, December 06, 2022

Global cyber security revenue to reach $334 billion in 2026

Global cyber security revenue to reach $334 billion in 2026

This figure represents a five-year annual growth rate of 8.7%.

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The global cyber security market will reach $334,000 million in revenue in 2026.

globally, it is expected that cyber security revenue Growth with compound annual growth rate (CAGR) 8.7% in five yearsFrom $220 billion in 2021, according to data and analytics firm Global Data.

The rise of digital transformation initiatives, the penetration of Internet connectivity, and the sensitivity gained from Internet of Things (IoT) connectivity are also expected to increase the adoption of cyber security solutions.

Just like that, What is expected of the global enterprise cyber security marketIn particular, cyber attacks on organizations flourished after the increased volume and sophistication.

“Despite continued investment and growth in cybersecurity, the frequency of attacks and breaches has shown no sign of decreasing,” said Madhumita Choudhury, Head of Practice, GlobalData.

“More than billions of records containing critical information have been compromised since the pandemic. As such, enterprise cybersecurity will continue to dominate the global cybersecurity demand in terms of market share,” he said.

In addition, it is expected that CAGR The consumer cyber security market reaches 10% during this period.

“The rapid emergence of connected devices and associated security risks without Aadhaar security updates will favor the growth of the segment during the forecast period,” Choudhary said, emphasizing that “cyber security should be at the forefront of all digital transformation strategies. Means strong repercussions in the form of quick attacks from ransomware,

Growth of the cyber security market comes as 2026 says Forrester customers will increase their confidence in managed security service providers (MSSP) in 2023.

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