Cybersecurity market revenues worldwide 2017-2023

The global cybersecurity market size is forecasted to grow to 248.26 billion U.S. dollars by 2023. Cybersecurity is the practice of protecting computer information systems, hardware, network, and data from cyberattacks.

Cyberattacks

In the modern information age when more and more things are getting connected, cybersecurity becomes an ever-relevant topic. Major data breaches, such as the 2014 hacking of Yahoo’s online platform, saw hundreds of millions of accounts being affected. Phishing and network intrusion are among some of the most common cyberattacks experienced by U.S. companies as of 2017. Such attacks result in serious damages, such as information loss or revenue loss, to businesses’ operations.

Market segments

The information security market includes subsegments such as identity access management, infrastructure protection and security services. Global security spending on identity access management is forecasted to reach 10.58 billion U.S. dollars in 2019. Spending on security services, the largest segment of the information security market, is projected to reach 64.24 billion U.S. dollars in the same year.

Size of the cybersecurity market worldwide, from 2017 to 2023

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Sources

Release date

September 2018

Region

Worldwide

Survey time period

2017

Supplementary notes

* Forecast

The figures from 2018 to 2022 represent an estimate based on the source-provided compound annual growth rate (CAGR) of 10.2 percent, as well as the market revenue figure for 2017 and 2022 provided by the source.

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Statistics on "Business cyber security in the United Kingdom (UK)"

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