The research report titled, ‘Cybersecurity Services Market by Type, Organization Size, Security Type, Sector (BFSI, Healthcare, Government, IT & Telecommunications, and Other Sectors) - Global Forecast to 2030’, provides an in-depth analysis of cybersecurity services market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.
The global cybersecurity services market is projected to reach USD 158.4 billion by 2030, at a CAGR of 17.5% during the forecast period of 2023-2030. The growth of the cybersecurity services market is driven by the growing significance of cybersecurity services in the banking sector and rising government initiatives encouraging the adoption of cybersecurity services. In addition, the growing need for cybersecurity services among SMEs, the increasing use of artificial intelligence, machine learning, and blockchain technologies for cyber defense, and the development of smart infrastructure are expected to create market growth opportunities.
The study offers a comprehensive analysis of the global cybersecurity services market by type, organization size, security type, sector, and geography.
The global cybersecurity services market is segmented by type (professional services [integration services, penetration testing services, training, consulting, and advisory services, support & maintenance services, and other professional services], managed services [managed detection & response services, compliance & vulnerability management services, and other managed services]), organization size (large enterprises, small & medium-sized enterprises), security type (network security, cloud security, endpoint security, application security, and other security types), sector (BFSI, healthcare, government, IT & telecommunications, retail & e-commerce, energy & utility, manufacturing, education, and other sectors)). The study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on type, the global cybersecurity services market is segmented into professional services and managed services. In 2023, the professional services segment is expected to account for the larger share of the global cybersecurity services market. The large market share of this segment is attributed to the growing demand for comprehensive identification, assessment, and management of security across enterprise systems, and the rising need for support & maintenance, integration, training, consulting, and advisory, penetration testing services. However, the managed services segment is projected to register the highest CAGR during the forecast period.
Based on organization size, the global cybersecurity services market is segmented into large enterprises and small & medium-sized enterprises (SMEs). In 2023, the large enterprises segment is expected to account for the larger share of the global cybersecurity services market. The large market share of this segment is attributed to the strong IT infrastructure of large enterprises and the availability of skilled IT personnel to manage cybersecurity services platforms. Furthermore, large enterprises have a stable financial backup and can easily procure customized cybersecurity services. However, the small & medium-sized enterprises segment is projected to register the highest CAGR during the forecast period.
Based on security type, the global cybersecurity services market is segmented into cloud security, application security, endpoint security, network security, and other security types. In 2023, the network security segment is expected to account for the largest share of the global cybersecurity services market. The large market share of this segment is attributed to the rising adoption of network services and an increase in the number of malware attacks on enterprise networks. However, the cloud security segment is projected to register the highest CAGR during the forecast period.
Based on geography, the global cybersecurity services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global cybersecurity services market. North America’s large market share is attributed to the increase in government initiatives promoting cybersecurity across the region, increasing cyberattacks on IoT devices, the introduction of government laws to improve IoT cybersecurity, and regional market players’ efforts to provide application scanning services for municipal agencies. However, Asia-Pacific is expected to register the highest CAGR during the forecast period.
The key players operating in the global cybersecurity services market are Cisco Systems, Inc. (U.S.), Fortinet, Inc. (U.S.), IBM Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), Microsoft Corporation (U.S.), Palo Alto Networks, Inc. (U.S.), Rapid7, Inc. (U.S.), CrowdStrike Holding, Inc. (U.S.), Accenture plc (Ireland), Secureworks Corp. (U.S.), Trend Micro Incorporated (Japan), CyberDefenses Inc. (U.S.), Nozomi Networks, Inc. (U.S.), Aristi Cybertech Private Limited (India), and Skylark Information Technologies Private Limited (India).
The global cybersecurity services market is projected to reach USD 158.4 billion by 2030, at a CAGR of 17.5% during the forecast period of 2023-2030. The growth of the cybersecurity services market is driven by the growing significance of cybersecurity services in the banking sector and rising government initiatives encouraging the adoption of cybersecurity services. In addition, the growing need for cybersecurity services among SMEs, the increasing use of artificial intelligence, machine learning, and blockchain technologies for cyber defense, and the development of smart infrastructure are expected to create market growth opportunities.
The study offers a comprehensive analysis of the global cybersecurity services market by type, organization size, security type, sector, and geography.
The global cybersecurity services market is segmented by type (professional services [integration services, penetration testing services, training, consulting, and advisory services, support & maintenance services, and other professional services], managed services [managed detection & response services, compliance & vulnerability management services, and other managed services]), organization size (large enterprises, small & medium-sized enterprises), security type (network security, cloud security, endpoint security, application security, and other security types), sector (BFSI, healthcare, government, IT & telecommunications, retail & e-commerce, energy & utility, manufacturing, education, and other sectors)). The study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on type, the global cybersecurity services market is segmented into professional services and managed services. In 2023, the professional services segment is expected to account for the larger share of the global cybersecurity services market. The large market share of this segment is attributed to the growing demand for comprehensive identification, assessment, and management of security across enterprise systems, and the rising need for support & maintenance, integration, training, consulting, and advisory, penetration testing services. However, the managed services segment is projected to register the highest CAGR during the forecast period.
Based on organization size, the global cybersecurity services market is segmented into large enterprises and small & medium-sized enterprises (SMEs). In 2023, the large enterprises segment is expected to account for the larger share of the global cybersecurity services market. The large market share of this segment is attributed to the strong IT infrastructure of large enterprises and the availability of skilled IT personnel to manage cybersecurity services platforms. Furthermore, large enterprises have a stable financial backup and can easily procure customized cybersecurity services. However, the small & medium-sized enterprises segment is projected to register the highest CAGR during the forecast period.
Based on security type, the global cybersecurity services market is segmented into cloud security, application security, endpoint security, network security, and other security types. In 2023, the network security segment is expected to account for the largest share of the global cybersecurity services market. The large market share of this segment is attributed to the rising adoption of network services and an increase in the number of malware attacks on enterprise networks. However, the cloud security segment is projected to register the highest CAGR during the forecast period.
Based on geography, the global cybersecurity services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global cybersecurity services market. North America’s large market share is attributed to the increase in government initiatives promoting cybersecurity across the region, increasing cyberattacks on IoT devices, the introduction of government laws to improve IoT cybersecurity, and regional market players’ efforts to provide application scanning services for municipal agencies. However, Asia-Pacific is expected to register the highest CAGR during the forecast period.
The key players operating in the global cybersecurity services market are Cisco Systems, Inc. (U.S.), Fortinet, Inc. (U.S.), IBM Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), Microsoft Corporation (U.S.), Palo Alto Networks, Inc. (U.S.), Rapid7, Inc. (U.S.), CrowdStrike Holding, Inc. (U.S.), Accenture plc (Ireland), Secureworks Corp. (U.S.), Trend Micro Incorporated (Japan), CyberDefenses Inc. (U.S.), Nozomi Networks, Inc. (U.S.), Aristi Cybertech Private Limited (India), and Skylark Information Technologies Private Limited (India).
Key questions answered in the report:
- Which are the high-growth market segments in terms of the type, organization size, security type and sector?
- What is the historical market for cybersecurity services across the globe?
- What are the market forecasts and estimates for the period of 2023-2030?
- What are the major drivers, restraints, and opportunities in the global cybersecurity services market?
- Who are the major players in the global cybersecurity services market and what share of the market do they hold?
- Who are the major players in various countries and what share of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the global cybersecurity services market?
- What are the different strategies adopted by the major players in the global cybersecurity services market?
- What are the geographical trends and high-growth countries?
- Who are the local emerging players in the global cybersecurity services market and how do they compete with the other players?
Scope of the Report
Cybersecurity Services Market, by Type
- Professional Services
- Integration Services
- Penetration Testing Services
- Training, Consulting, and Advisory Services
- Support & Maintenance Services
- Other Professional Services
- Managed Services
- Managed Detection & Response Services
- Compliance & Vulnerability Management Services
- Other Managed Services
Cybersecurity Services Market, by Organization Size
- Small & Medium-sized Enterprises
- Large Enterprises
Cybersecurity Services Market, by Security Type
- Cloud Security
- Application Security
- Endpoint Security
- Network Security
- Other Security Types
Cybersecurity Services Market, by Sector
- BFSI
- Healthcare
- Government
- IT & Telecommunications
- Retail & E-Commerce
- Energy & Utility
- Manufacturing
- Education
- Other Sectors
Cybersecurity Services Market, by Geography
- North America
- U.S.
- Canada
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- UAE
- Israel
- Rest of Middle East & Africa
Table of Contents
1. Introduction1.1 Market Definition
1.2 Scope of the Study
1.3 Global Cybersecurity Services Market Ecosystem
1.4 Currency & Limitation
1.4.1 Currency
1.4.2 Limitations
1.5 Key Stakeholders
2. Research Methodology
2.1 Research Approach
2.2 Data Collection & Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Assessment
2.3.1 Market Size Estimation
2.3.1.1 Bottom-up Approach
2.3.1.2 Top-down Approach
2.3.1.3 Growth Forecast
2.3.2 Market Share Analysis
2.4 Assumptions for the Study
3. Executive Summary
3.1 Market Analysis, by Type
3.2 Market Analysis, by Security Type
3.3 Market Analysis, by Organization Size
3.4 Market Analysis, by Sector
3.5 Market Analysis, by Geography
4. Impact of COVID-19 on the Cybersecurity Services Market
5. Market Insights
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Significance of Cybersecurity Services in the Banking Sector
5.2.1.2 Government Initiatives Encouraging the Adoption of Cybersecurity Service
5.2.2 Restraints
5.2.2.1 Shortage of Trained Professionals
5.2.3 Opportunities
5.2.3.1 Growing Need for Cybersecurity Services Among SMEs
5.2.3.2 Increasing Use of Artificial Intelligence, Machine Learning, and Blockchain Technologies for Cyber Defense
5.2.3.3 Development of Smart Infrastructure
5.2.4 Challenges
5.2.4.1 Misconceptions Regarding Cybersecurity Services
5.2.4.2 Vulnerability Issues with IoT Devices
5.2.5 Trends
5.2.5.1 Rising Adoption of Cloud Security Services Among Businesses
5.2.6 Regulatory Analysis
6. Cybersecurity Services Market, by Type
6.1 Introduction
6.2 Professional Services
6.2.1 Integration Services
6.2.2 Penetration Testing Services
6.2.3 Training, Consulting, and Advisory Services
6.2.4 Support & Maintenance Services
6.2.5 Other Professional Services
6.3 Managed Services
6.3.1 Managed Detection and Response Services
6.3.2 Compliance & Vulnerability Management Services
6.3.3 Other Managed Services
7. Cybersecurity Services Market, by Organization Size
7.1 Introduction
7.2 Large Enterprises
7.3 Small & Medium-sized Enterprises
8. Cybersecurity Services Market, by Security Type
8.1 Introduction
8.2 Network Security
8.3 Cloud Security
8.4 Endpoint Security
8.5 Application Security
8.6 Other Security Types
9. Cybersecurity Services Market, by Sector
9.1 Introduction
9.2 BFSI
9.3 Retail & E-commerce
9.4 Government
9.5 IT & Telecommunications
9.6 Manufacturing
9.7 Healthcare
9.8 Education
9.9 Energy & Utility
9.10 Other Sectors
10. Cybersecurity Services Market, by Geography
10.1 Introduction
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Asia-Pacific
10.3.1 China
10.3.2 Japan
10.3.3 South Korea
10.3.4 India
10.3.5 Rest of APAC
10.4 Europe
10.4.1 U.K.
10.4.2 Germany
10.4.3 France
10.4.4 Spain
10.4.5 Italy
10.4.6 Rest of Europe
10.5 Latin America
10.5.1 Mexico
10.5.2 Brazil
10.5.3 Rest of Latin America
10.6 Middle East & Africa
10.6.1 UAE
10.6.2 Israel
10.6.3 Rest of Middle East & Africa
11. Cybersecurity Services Market-Competitive Landscape
11.1 Introduction
11.2 Key Growth Strategies
11.2.1 Market Differentiators
11.2.2 Synergy Analysis: Major Deals & Strategic Alliance
11.3 Competitive Dashboard
11.3.1 Industry Leader
11.3.2 Market Differentiators
11.3.3 Vanguards
11.3.4 Contemporary Stalwarts
11.4 Vendor Market Positioning
11.5 Market Share Analysis
12. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
12.1 IBM Corporation
12.2 Cisco Systems, Inc.
12.3 Check Point Software Technologies Ltd.
12.4 Fortinet, Inc.
12.5 Microsoft Corporation
12.6 Palo Alto Networks, Inc.
12.7 Rapid7, Inc.
12.8 CrowdStrike Holding, Inc.
12.9 Accenture plc
12.10 Secureworks Corp.
12.11 Trend Micro Incorporated
12.12 CyberDefenses Inc.
12.13 Nozomi Networks, Inc.
12.14 Aristi Cybertech Private Limited
12.15 Skylark Information Technologies Private Limited
13. Appendix
13.1 Questionnaire
13.2 Available Customization
Companies Mentioned
- Cisco Systems Inc.
- Fortinet Inc.
- IBM Corporation
- Check Point Software Technologies Ltd.
- Microsoft Corporation
- Palo Alto Networks Inc.
- Rapid7 Inc.
- CrowdStrike Holding Inc.
- Accenture plc
- Secureworks Corp.
- Trend Micro Incorporated
- CyberDefenses Inc.
- Nozomi Networks Inc.
- Aristi Cybertech Private Limited
- Skylark Information Technologies Private Limited .
