According to TechSci Research report, “The United States Cyber Security Market By Security Type (Network Security, Endpoint Security, Application Security, Cloud Security, Content Security, Others) By Solutions Type (Identity & Access Management, Risk & Compliance Management, Encryption & Decryption, Data Loss Prevention, Unified Threat Management, Firewall, Antivirus & Malware, Intrusion Detection/Prevention System, Infrastructure Security, Others) By Deployment Mode (On-Premise v/s Cloud) By End-Use Industry (BFSI, IT & Telecom, Defense, Energy & Power, Retail, Healthcare, and Others) By Company, By Region, Forecast & Opportunities, 2026”, The United States cybersecurity market is expected to witness significant growth for the next five years. Cybersecurity solutions help enterprises to detect, monitor, and prevent cyber threats for maintaining data confidentiality. The need to protect the critical infrastructure across government, utilities and other prominent sectors are leading to the adoption of cybersecurity service providers. Security service providers troubleshoot software issues and provide services through security operation centers. Large enterprises are increasing their spending on security services and solutions to ensure protection against cyber-attacks. An increase in the number of attacks such as phishing, malware threats, IoT threats, crypto-jacking is leading to huge organizational losses which are creating the need to adopt cybersecurity solutions.
The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected countries adversely. Leading authorities in the United States imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus-affected patients started suffering from shortness of breath along with coughing and sneezing. United States authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. Corporate asked employees to work from home as a precautionary measure which has increased the adoption of video conferencing and communication platforms at a large scale which has surged the demand for security measures to prevent data leak or loss thereby bolstering the growth of the cybersecurity market.
United States cybersecurity market is segmented into security type, solutions type, deployment mode, end-use industry, regional distribution, and company. Based on the end-use industry, the market can be further divided into BFSI, IT & telecom, defense, energy & power, retail, healthcare, and others. The Defense end-use industry segment is expected to account for major market share for the forecast period, 2022-2026. Airplane navigation systems are highly prone to cyber-attacks need strong security measures. The surge in the adoption of machine-to-machine technology in the aerospace domain and efforts by leading authorities to ensure security are expected to boost the cybersecurity market. The rise in research and development activities to prevent cyber attacks and develop network security solutions and software is expected to fuel the cybersecurity market growth. Based on solutions type, the cybersecurity market can be fragmented into identity & access management, risk & compliance management, encryption & decryption, data loss prevention, unified threat management, firewall, antivirus & malware, intrusion detection/prevention system, infrastructure security, and others. The Identity and Access Management solution segment is expected to dominate the market for the next five years. The growing importance of trackers and employee activity solutions is crucial for viewing applications and programs contributing to the adoption of identity and access management solutions. The rise in the need to automate several user-related security incidences and surge in the number of cyberattacks is increasing the adoption of password and privilege management in organizations.
IBM Corporation, Cisco Systems Inc., Dell Technologies Inc., Check Point Software Technologies, CyberArk Software Ltd., FireEye Inc., Fortinet Inc., Imperva Inc., Intel Security (Intel Corporation), Trend Micro Inc. are the leading players operating in the United States cybersecurity market. Manufacturers are increasingly focusing on the research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several cybersecurity manufacturers are coming up with their technologically advanced offerings.
“Increase in adoption of emerging trends and technologies such as internet of things, machine learning, artificial intelligence and bring your own device is rising which is creating lucrative opportunities for the cybersecurity market growth. High demand for wearable devices, connected cars, smart consumer electronics and increase in the number of smart cities is expected to raise security concerns which are ultimately leading to fuel the cybersecurity market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“US Cyber Security Market By Security Type (Network Security, Endpoint Security, Application Security, Cloud Security, Content Security, Others) By Solutions Type (Identity & Access Management, Risk & Compliance Management, Encryption & Decryption, Data Loss Prevention, Unified Threat Management, Firewall, Antivirus & Malware, Intrusion Detection/Prevention System, Infrastructure Security, Others) By Deployment Mode (On-Premise v/s Cloud) By End-Use Industry (BFSI, IT & Telecom, Defense, Energy & Power, Retail, Healthcare, and Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of United States cybersecurity market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States cybersecurity market.