Global Cyber Security Market is expected to reach $342.3 billion by 2030

Published Date: Feb, 2024

The global cyber security market is estimated to be valued at $174.6 billion in 2023, and it is expected to reach $342.3 billion by 2030, growing at a CAGR of 10% during the forecast period (2025–2030). The market is driven by factors such as increasing cyber security threats, increasing internet penetration, and increasing adoption of IoT solutions across different industry verticals. Industry players are developing advanced solutions to tackle cyber-attacks and threat such as firewall, encryption, identity and access management, security, and vulnerability management, which are further fuelling the growth of the market.

The market for cybersecurity devices is primarily driven by increasing cyber-attacks worldwide. With the increasing number of cyber threats daily and evolving techniques by attackers, different organizations and consumers are compelled to adopt advanced security systems to tackle these threats. Different governments and organizations across the globe are collaborating and cooperating to deal with these threats. This offers market players immense opportunities to develop advanced security systems, which will drive their revenue growth.

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Among the two components, t solutions hold a larger share in the cyber security market, globally. The services segment is witnessing the higher growth in the market as globally there is serious concern regarding data security and privacy. Also, several new entrants are entering the market who provide security services against cyber-attacks. Based on deployment type, the cyber security market is segmented into cloud-based and on-premise. Of these two deployment types, the cloud-based category is predicted to witness the higher CAGR during the forecast period owing to the higher susceptibility of cloud-based systems to cyber-attacks.
On the basis of security type, the cyber security market size for application security is expected to grow at the fastest rate during the forecast period, globally. Based on organization size, the cyber security market size is larger for large enterprises; however, its growth rate is higher for small and medium enterprises due to the increasing awareness and increasing incidence of security breaches in these organizations.

Global Cyber Security Market Segmentation and Key Players

Segment / Key Players



(Solutions [Identity & Access Management, Security & Vulnerability Management, Risk & Compliance Management, Encryption, Firewall, Unified Threat Management, Web Filtering, Disaster Recovery, Distributed Denial of Services Mitigation, Antivirus or Antimalware, Data Loss Prevention, Intrusion Detection Systems], Services [Managed, Professional])

Deployment Type

Cloud-Based, On-Premise

Security Type

Network, Endpoint, Wireless, Application, Cloud, Others

Organization Size

Small & Medium Enterprises, Large Enterprises


Government & Public Utilities, Aerospace & Defense, BFSI, Manufacturing, Retail, Healthcare, IT & Telecom, Others

Key Players

Hewlett Packard Enterprise, IBM Corporation, Accenture, McAfee Inc., Capgemini, Cognizant, F5 Networks Inc., FireEye Inc., HCL Technologies Limited, Symantec Corporation, Fortinet Inc., Check Point Software Technologies Ltd., Trend Micro Inc., Palo Alto Networks Inc., Cisco Systems Inc., Broadcom Inc, Sophos Ltd., Webroot Inc., F-Secure, Kaspersky Lab, Infosys Limited, L&T Technology Services Limited, PwC International Limited, Broadcom Inc., Tata Consultancy Services, Tech Mahindra Limited, Wipro Limited and LogRhythm Inc.

Based on verticals the market is segmented into government and public utilities, aerospace, and defense, BFSI, manufacturing, retail, healthcare, IT and telecom, and others. Of all the verticals, cyber security solutions and services witness the highest demand from the BFSI sector. Banking and financial sectors are more prone to cyber-attacks as these industries are vulnerable to cyber risk and owing to the transactions happening on a daily basis. This makes it of the utmost need to utilize cyber security solutions and services.

North America accounted for the major share in the cyber security industry in 2021, globally as the players in the region are continuously investing capital for the advancement of technology in cyber security. U.S. is home to most of the major players worldwide, which is due to the fact that the U.S. population and government are more aware regarding the issues concerning to cyber-crime and attacks. This creates traction for the industry players to invest in the region. Moreover, Asia-Pacific is observed to witness the fastest growth in the cyber security market.

Key players in the cyber security industry are investing in the development of advanced solutions including security and vulnerability management, risk and compliance management, and encryption among others, which is strengthening their position in the market. Hewlett Packard Enterprise, McAfee Inc., IBM Corporation, Symantec Corporation, Trend Micro, Inc., Check Point Software Technologies Ltd., Palo Alto Networks, Inc., Cisco Systems, Inc., Fortinet, Inc., Sophos Ltd., F-Secure, Kaspersky Lab, Webroot, Inc., and LogRhythm, Inc. are some of the key players offering solutions and services for cyber security.

Global Cyber Security Market Coverage

Component Insight and Forecast 2025-2030

  • Solution
    • Identity and Access Management
    • Security and Vulnerability Management
    • Risk and Compliance Management
    • Encryption, Firewall
    • Unified Threat Management
    • Web Filtering
    • Disaster Recovery
    • Distributed Denial of Services Mitigation
    • Antivirus or Antimalware
    • Data Loss Prevention
    • Intrusion Detection Systems
  • Services
    • Managed
    • Professional

Deployment Type Insight and Forecast 2025-2030

  • Cloud-Based
  • On-Premise

Security Type Insight and Forecast 2025-2030

  • Network, Endpoint
  • Wireless
  • Application
  • Cloud
  • Others

Organization Size Insight and Forecast 2025-2030

  • Small and Medium Enterprises
  • Large Enterprises

Vertical Insight and Forecast 2025-2030

  • Government and Public Utilities
  • Aerospace and Defense
  • BFSI
  • Manufacturing
  • Retail
  • Healthcare
  • IT and Telecom
  • Others

Geographical Segmentation

Cyber Security Market by Region

North America

  • By Component
  • By Deployment Type
  • By Security Type
  • By Organization Size
  • By Vertical
  • By Country
    • U.S.
    • Canada


  • By Component
  • By Deployment Type
  • By Security Type
  • By Organization Size
  • By Vertical
  • By Country
    • U.K.
    • Russia
    • Ireland
    • Rest of Europe


  • By Component
  • By Deployment Type
  • By Security Type
  • By Organization Size
  • By Vertical
  • By Country
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific

Latin America

  • By Component
  • By Deployment Type
  • By Security Type
  • By Organization Size
  • By Vertical
  • By Country
    • Brazil
    • Mexico
    • Rest of Latin America

Middle East & Africa (MEA)

  • By Component
  • By Deployment Type
  • By Security Type
  • By Organization Size
  • By Vertical
  • By Country
    • Nigeria
    • South Africa
    • Morocco
    • Kenya
    • Rest of MEA