Cyber Security Market approach Analysis, Growth, Key Players, Shares, Drivers, Challenges with Forecast to 2026
A recent report published by Market Insight Reports states that the cybersecurity market is expected to grow substantially in the coming years due to the increasing digitalization and growing frequency of cyberattacks. Attacks that are basically focused at either destroying, accessing & stealing, and changing sensitive information, or interrupting the normal business processes, or generating money by fraud means from users.
The report presents an analysis of how the cybersecurity market is segmented in terms of products, organization type, industry, and regional landscape.
As for the industry, it states that the cybersecurity market is segmented into securities, manufacturing, banking, IT & telecom, government, and transportation.
- The government sector held over 20% market share in 2019 due to increasing financial frauds on government digital assets.
- The transportation industry is likely to witness a CAGR of around 12% through 2026 due to growing demand of IT security in connected vehicles.
- The insurance sector will foresee a CAGR of nearly 15% through 2026 due to increasing cases of online identity theft and financial scams during insurance claims.
- The securities segment will observe a CAGR of 14% through 2026 as the demand for malware attack protection is surging.
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