According to the Market Statsville Group (MSG), the global cybersecurity solutions and services market size is expected to grow at a CAGR of 10.1% from 2022 to 2030. The factors influencing the growth of the cybersecurity solutions and services market are the rising frequency and advancement of target-based cyber-attacks, surging demand for cybersecurity mesh, and increasing demand for cyber-savvy boards. However, budgetary constraints among small and emerging startups in developing economies may hinder the growth of the market. 

COVID-19 Impact on the Global Cybersecurity Solutions and Services Market

The pandemic has prompted a quick shift to 'work-from-home arrangements, making the workplace more vulnerable to cyber threats. COVID-19-themed web and email attacks and targeted Remote Desktop Protocol (RDP) attacks are on the rise. It puts a greater emphasis on cybersecurity. The Covid-19 outbreak has increased demand for endpoint and virtual private network (VPN) security measures and cyber hygiene practices to maintain robust security policies and practices.

Scope of the Global Cybersecurity Solutions and Services Market

The study categorizes the cybersecurity solutions and services market based on component, service, security type, deployment mode, organization size, and industry at the regional and global levels.

By Component (Sales, USD Million, 2017-2030)

• Hardware
• Software
• Services

By Service (Sales, USD Million, 2017-2030)

• Design and Implementation
• Risk and Threat Assessment
• Consulting
• Training and Education
• Support and Maintenance

By Security Type (Sales, USD Million, 2017-2030)

• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Others

By Deployment Mode (Sales, USD Million, 2017-2030)

• On-Premises
• Cloud

By Organization Size (Sales, USD Million, 2017-2030)

• Small and Medium-Sized Enterprises
• Large Enterprises

By Industry (Sales, USD Million, 2017-2030)

• Aerospace and Defense
• Government
• Banking, Financial Services, and Insurance
• IT and Telecom
• Healthcare
• Retail
• Manufacturing
• Energy and Utilities
• Others

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Cloud segment is projected to account for the largest market share, by deployment mode

Based on deployment mode, the global cybersecurity solutions and services market is divided into on-premises and cloud. In 2021, the cloud segment accounted for the largest market share in the global cybersecurity solutions and services market. A cloud-based solution is a web-based business model that enables online data storage and sharing. The fundamental benefit of cloud-based solutions is that they can be accessible in real-time from anywhere worldwide as long as there is an Internet connection.

Asia Pacific accounts for the highest CAGR during the forecast period

The Asia Pacific is estimated to hold the highest CAGR in the global cybersecurity solutions and services market during the forecast period. As countries in the region engage extensively in adopting cybersecurity and compliance management systems, APAC is likely to offer numerous development possibilities for cybersecurity suppliers. The increased demand for cybersecurity solutions and services among SMEs and the growth in mobile and web-based apps for business-critical processes present potential growth possibilities in APAC.

Key Market Players in the Global Cybersecurity Solutions and Services Market

The cybersecurity solutions and services market is highly competitive as major industry players adopt strategies such as product developments, partnerships, acquisitions, agreements, and expansions to strengthen their market position. Most companies in the market are indulged in expanding operations across geographies, expanding capabilities, and building strong partnerships.

Major players in the global cybersecurity solutions and services market are:

• IBM
• Symantec
• FireEye
• Check Point
• Cisco
• Trend Micro
• Sophos
• Rapid7
• McAfee
• Micro Focus

Recent Developments

• In February 2022, IBM announced a multi-million dollar investment in resources to help businesses prepare and respond to the growing threat of cyberattacks against organizations in the Asia Pacific (APAC) region. Central to this investment was the new IBM Security Command Center, the first in the region. It is designed to prepare everyone, from executives to technical staff, for training cybersecurity readiness through highly realistic and simulated cyberattacks.
• In April 2020, Accenture completed its acquisition of the Symantec Cyber Security Services business from Broadcom Inc. The acquisition strengthens Accenture's security position as the world's leading provider of managed security services and enhances its ability to help organizations anticipate, detect and respond to cyber threats.

Key Issues Addressed

• What is the market size by various segmentation of the cybersecurity solutions and services by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the cybersecurity solutions and services market?
• What are the key opportunities and trends for manufacturers involved in the cybersecurity solutions and services supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of cybersecurity solutions and services in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market