Cyber Security Market Exhibits 13.4% CAGR to Hit USD 376.32 Billion by 2029
Pune, India, March 02, 2023 (GLOBE NEWSWIRE) — The global
cyber security market size
was USD 139.77 billion in 2021 and is projected to grow from USD 155.83 billion in 2022 to USD 376.32 billion by 2029, exhibiting a CAGR of 13.4% during the 2022-2029 period. Rising Number of E-commerce Platforms to Drive the Market Growth Fortune Business Insights, provide this information in its report titled, “Cyber Security Market Forecast, 2023-2029.”
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Key Industry Developments:
GE Healthcare introduced an AI-based network security service to connect AI, medical devices, and process management tools and help hospitals to evade It threats.
To expedite DevSecOps, Fortinet, Inc. purchased application security innovator Skenai. Sken.ai offers comprehensive testing for all major languages and frameworks, as well as all types of scans (SAST, DAST, SCA, Secrets, and more). Machine learning (ML) is used by Sken.ai to correlate and assign a security risk level to each vulnerability discovered across multiple scan kinds and apps.
Report Scope & Segmentation
|
Report Coverage |
Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 13.4% |
| 2029 Value Projection | USD 376.32 Billion |
| Base Year | 2021 |
| Cyber Security Market Size in 2021 | USD 139.77 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 160 |
| Segments covered | Component, Deployment Type, Enterprise Size Industry, and Geography |
| Cyber Security Market Growth Drivers | Market Growth will be driven by the Increasing Number of E-Commerce Platforms |
Key Takeaways
- The demand for cybersecurity solutions in healthcare, manufacturing, and government has grown exponentially during the pandemic crisis.
- Integration of Technologies such as the IoT, Machine Learning, and Cloud to Drive…
