Security News > 2022 > January > Cybersecurity market to reach $346 billion by 2027

As per the study of Astute Analytica, the global cybersecurity market is anticipated to grow at a CAGR of 13.40% during the forecast period of 2021 to 2027.

The market marked a revenue of $162.9 Bn in the year 2021 and is estimated to reach $346 Bn by the end of the year 2027, with around 2.4 times of growth over the study period.

Global cybersecurity market size is expected to expand based on various factors such as rise in demand for data and information protection across the globe, rise in number of malicious cyber activities.

As per the Astute Analytica Report, in the year 2021, North America cybersecurity market was holding the highest market share of around 35%, supported by market key players of the region are delivering advanced solutions worldwide.

The North America cybersecurity market growth is followed by Europe and Asia Pacific, holding around 51% of the cumulative market share in 2021.

The major key players in the market are Cisco, IBM, Trend Micro, and Palo Alto holding around 41.60% of the market share and rest is captured by other local players worldwide.

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https://www.helpnetsecurity.com/2022/01/21/cybersecurity-market-2027/