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Cybersecurity market revenues worldwide 2017-2023

Size of the cybersecurity market worldwide, from 2017 to 2023 (in billion U.S. dollars)

by Shanhong Liu, last edited Aug 9, 2019
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.
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Size of the cybersecurity market worldwide, from 2017 to 2023 (in billion U.S. dollars)

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