According to a recent market study published by Growth Market Reports, titled, “Global Cybersecurity Market by Component, Software, Software Deployment Mode, Security Type, Organization Size, Vertical and Regions: Size, Volume, Share, Trends and Opportunity Analysis, 2015-2030”, the market was valued at USD 1,80,597.7 Million in 2021 and is expected to grow at a moderate growth rate of 20.9% by the year 2030. Increasing penetration of connected devices & systems, and rising cyber intrusion activity is expected to fuel the market during the forecast period.

As per the Growth Market Reports industry analyst Akash Vedpathak, “The Cybersecurity Market” is anticipated to witness significant growth during the forecast period 2022-2030. Key factors that are anticipated to fuel the demand for the global cybersecurity market during the forecast period are the increasing penetration of connected devices and systems and rising cyber intrusion activity. Conversely, lack of skilled workforce and less budget among startups hamper the growth of the cybersecurity market. Growth of endpoint security due to the growing trend of BYOD, the transition from a wired communication network to a wireless communication network, IoT to security plays a vital role and adoption of cloud-based cyber security solutions among SMEs are expected to create opportunities in the market.

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Cyber refers to the technology that includes systems, networks, programs, and data. The safeguarding of systems, networks, applications, and information is known as security. Cybersecurity is the protection of internet-connected systems, such as hardware, software, and data from cyber threats. Individuals and businesses use this system to prevent unauthorized access to data centers and other computerized systems. Smartphones, computers, and the internet have become integral components of a modern life, and it is getting progressively difficult to function without them. It has become increasingly important to take steps to prevent cyber criminals from getting hold of individual accounts, data, and devices. This gives importance to cyber security.

The success of a cybersecurity program depends on the coordination of the many parts of the cybersecurity field within a company or organization. These sections include the following: information or data security, network security, application security, disaster recovery/business continuity planning, cloud security, operational security, critical infrastructure security, and physical security.

Value/ supply chain management is a pivotal part of any business. A supply chain contains a series of steps to get products from their original state to the customers. These steps include transforming components/raw materials into final products, transporting those products, and distributing them to the end users. Entities in the supply chain include raw material suppliers, manufacturers, distributors, and the final end use-industry. Moreover, value chain analysis is the process of identifying each of these activities, determining their costs and the value they deliver, and then looking for ways to optimize them in keeping with the company's overall strategy.

The primary, as well as secondary research methodology, is used for keen observation and study of the cybersecurity market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, and current and future trends done by the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other hand, the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The global economic expansion is projected to continue over the next decade, fueled by the growth of developing industries. COVID-19, BREXIT, and escalation of tariff wars between the US and China are projected to create short-term risks and disturbances. Conversely, revenue from the cybersecurity market is anticipated to grow, due to its increasing demand, which is fueled by its applications in various industries such as education, BFSI, and others.

The COVID-19 outbreak has propelled the global cybersecurity market. During the emergence of COVID-19, cybersecurity services help the organization in managing security issues and provide secured information access while operating remotely. Moreover, the threat of cyberattacks including malware and phishing has increased significantly in several organizations due to the rise in internet traffic, which increases the demand for cybersecurity. For instance, in 2020, Google blocked around 18 million daily phishing and malware emails.

The demand for cybersecurity solutions in government and healthcare has increased substantially during the COVID-19 pandemic situation. Additionally, major market players have introduced various security solutions for securing organizational operations from various cyber-attacks. For instance, IBM Corporation, launched IBM Security X-Force, which is a threat intelligence task force for detecting cyber-attacks in 2020.

Key Takeaways from the Study

  • In terms of components, the cybersecurity market is segmented into Hardware, Software, and Service. The Service segment is projected to hold a substantial share of the market in 2021, due to robust growth in connected devices, that are already creating system vulnerabilities.
  • Based on deployment mode, the cybersecurity market is segmented into cloud and on-premise. The on-premise segment is projected to hold a considerable share of the market in 2021.  On-premises deployment reduces dependency on third-party organizations providing explicit monitoring and data protection.

Report Scope

Report Metric


Market Value in 2021

USD 1,80,597.7 Million

Market Growth Rate (from 2021 to 2028)


Historical Data

2015 to 2020

Base Year


Forecast Period

2022 – 2030

Units Considered

Value (USD Million)

Market Segments

By Component, by Software, by Software Deployment Mode, by Security Type, by Organization Size, by Vertical and by regions.

Key Companies Profiled

Microsoft, Accenture, Palo Alto Networks, Cisco Systems, Inc, IBM, Check Point Software Technologies Ltd., Broadcom, Amazon Web Services, Inc., Fortinet, Inc., Trend Micro Incorporated., Zscaler Inc., Rapid7, CyberArk Software Ltd., Oracle, McAfee, LLC, NORMA Inc.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Cyber Security Solution and Software providers and developers
  • Demand Side: Consulting companies and end-consumers
  • Regulatory Side: Concerned government authorities, and other regulatory bodies
  • Associations and Industry Bodies: SME (Society of Manufacturing Engineers) and others.