In 2024, manufacturing saw the highest share of cyberattacks among the leading industries worldwide. During the examined year, manufacturing companies encountered more than a quarter of the total cyberattacks. Organizations in the finance and insurance followed, with around 23 percent. Professional, business, and consumer services ranked third, with 18 percent of reported cyberattacks. Manufacturing industry and cyberattacks The industry of manufacturing has been in the center of cyberattacks in a long time. The share of cyberattacks targeting organizations in this sector in 2018 was at 10 percent, while in 2024, it amounted to 26 percent. The situation is even more compliacted when we look at the cyber vulnerabilities found in this sector. In 2024, critical vulnerabilities in manufacturing companies lasted 205 days on average. IT perspective and prevention With recent technology developments, cybersecurity is crucial to an organization’s success. Realizing this, companies have been gradually increasing cybersecurity investments. Thus, in 2024, the cybersecurity budget worldwide was forecast to increase to nearly 283 billion U.S. dollars. Roughly nine in ten board directors of companies worldwide in professional services and media and entertainment industries say they expect an increase in the cybersecurity budget.

In 2024, organizations in the education and research sector saw the highest average weekly number of cyberattacks. The industry registered 3,574 cyberattacks. Government entities ranked second, with 2,286 weekly cyberattacks on average, while healthcare followed, with detected 2,210 incidents.

Pay attention to the following cybersecurity statistics to learn how to protect yourself from attacks.

The healthcare industry is one of the most vulnerable sectors to cybercrime. Between October 2021 and September 2022, the organizations in this sector saw a variety of cyber attacks, a majority of them being network and application anomalies, around ** percent. Malware was the second-most common type of attack vector, targeting ** percent of the examined organizations.

The Cyber Security Market size is expected to reach a valuation of USD 396.4 billion in 2034 growing at a CAGR of 7.4%. The Cyber Security Market research report classifies Market by share, trend, demand, forecast and based on segmentation.

In 2024, around a quarter of detected cyberattacks worldwide targeted the manufacturing industry. This figure saw a notable increase between 2019 and 2020 when the share of manufacturing cyberattacks jumped from eight percent to nearly 18 percent.

According to Cognitive Market Research, the global industrial cybersecurity market size reached USD 23.5 billion in 2024 and will expand at a CAGR of 8.2% from 2024 to 2031. Market Dynamics of Industrial Cybersecurity Market

Key Drivers for Industrial Cybersecurity Market

Emergence of Disruptive Digital Technologies - Government agencies and other organizations are launching measures to accelerate the use of emerging technologies in manufacturing industries. For example, in 2022, the UAE's Ministry of Industry and Advanced Technology (MoIAT) and EDGE Group PJSC (UAE) signed a memorandum of understanding (MoU) to set up the first Industry 4.0 Enablement Centre to promote the robust implementation of Industry 4.0 technologies throughout the manufacturing sector in the country. Digital transformation boosts productivity, improves efficiency, and lowers manufacturing costs. However, it also gives hackers more opportunities to exploit vulnerable networks and systems. As per Trend Micro Incorporated (Japan), 61% of industrial manufacturers reported cybersecurity problems in their smart factories in 2020. These attacks affected manufacturing processes, causing output delays and permanent loss of capital and essential and confidential data. As a result, the heightened risk of cyberattacks associated with the emergence of disruptive digital technologies has increased the demand for access control, real-time security monitoring, and surveillance in manufacturing facilities, propelling the market adoption of cybersecurity solutions in the industrial sector.
Moreover, the constant increase in the utilization of cloud-based solutions by SMEs and industrial cybersecurity-as-a-service are leading trends in this global market expansion.

Key Restraints for Industrial Cybersecurity Market

The higher implementation costs, the complexity of integration across diverse industrial environments, and a shortage of specialized cybersecurity expertise are the primary barriers to the industrial cybersecurity market's growth.
The industry also faces substantial challenges as some firms are hesitant to adopt new technologies due to concerns about operational disruptions during deployment or potential compatibility issues with existing systems.

Introduction of the Industrial Cybersecurity Market

Industrial enterprises face more cybersecurity challenges than ever before. Ransomware and political instability heighten the risk of safety problems and operational disruptions. The industrial cybersecurity market includes technologies, solutions, and services for protecting industrial control systems (ICS), supervisory control & data acquisition (SCADA) systems, and other operational technology (OT) infrastructure against cyber-attacks and vulnerabilities. Malware, phishing attacks, ransomware, insider threats, and other malicious actions are examples of cyber threats that try to disrupt or compromise industrial processes, vital infrastructure, and manufacturing operations. The introduction of AI and IoT-powered industrial robots has raised the market demand for robust industrial cybersecurity services for defense against increased cyber-attacks and data breaches. The combination of AI and industrial robots enabled the automation of complex and repetitive activities, which is expanding industrial productivity and efficiency.

Between November 2022 and October 2023, financial institutions worldwide saw 1,115 incidents of confirmed data disclosure. This represents an increase of over 133 percent from the previous year. Approximately, 1800 cyber attacks were reported in the financial and insurance sector in the later measured period

The global Industrial Cyber Security market is projected to reach $12,890 million by 2033, exhibiting a CAGR of 6.9% during the forecast period (2025-2033). The increasing adoption of Industrial IoT (IIoT) and the growing threat of cyber attacks on industrial control systems are driving the growth of this market. The rise in connectivity and the need for real-time data access in industrial environments have made industrial systems more vulnerable to cyber threats. As a result, organizations are investing heavily in industrial cyber security solutions to protect their critical infrastructure and sensitive data. Key trends shaping the Industrial Cyber Security market include the convergence of IT and OT networks, the adoption of cloud-based security solutions, and the increasing deployment of artificial intelligence (AI) and machine learning (ML) technologies. The integration of IT and OT networks has created a more complex attack surface, making it easier for attackers to penetrate industrial systems. Cloud-based security solutions offer scalability, flexibility, and cost-effectiveness, making them attractive to organizations of all sizes. AI and ML technologies can be used to detect and respond to cyber threats in real-time, providing organizations with a valuable tool for protecting their industrial systems.

In 2022, around 80 percent of the manufacturing companies in the United States anticipated a cyber attack within the following year. Only a few years back, in 2018, this share stood at 64 percent. This development is partially connected to the growing number of cyber attacks in the manufacturing sector and companies' increasing awareness of cybercrime.

Snapshot img

Cyber Security Market Size 2025-2029

The cyber security market size is valued to increase USD 269.8 billion, at a CAGR of 16.7% from 2024 to 2029. Increase in use of mobile devices will drive the cyber security market.

Major Market Trends & Insights

North America dominated the market and accounted for a 43% growth during the forecast period.
By End-user - Government segment was valued at USD 43.50 billion in 2023
By Deployment - On-premises segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 143.61 billion
Market Future Opportunities: USD 269.80 billion
CAGR from 2024 to 2029 : 16.7%

Market Summary

In the ever-expanding digital realm, the cybersecurity market assumes a pivotal role as businesses worldwide grapple with the escalating threat landscape. According to recent estimates, the global cybersecurity market is projected to reach a value of USD248.26 billion by 2023, underscoring its significant growth trajectory. This surge in demand is fueled by several key drivers, including the increasing use of mobile devices and the adoption of IoT technology. As businesses embrace digital transformation, they become increasingly reliant on complex networks and interconnected systems, creating a vast attack surface for cybercriminals. This, in turn, necessitates robust cybersecurity solutions capable of safeguarding sensitive data and mitigating potential threats. However, the high cost of deployment remains a significant challenge, necessitating a balance between security and cost-effectiveness. Moreover, the cybersecurity landscape is characterized by rapid evolution, with emerging threats and technologies requiring continuous adaptation and innovation. As such, cybersecurity providers must stay abreast of the latest trends and developments to deliver effective solutions. This ongoing demand for advanced security capabilities is expected to drive market growth in the coming years.

What will be the Size of the Cyber Security Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Cyber Security Market Segmented ?

The cyber security industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userGovernmentBFSIICTManufacturingOthersDeploymentOn-premisesCloud-basedProductSolutionServicesSectorLarge enterprisesSMEsTypeCloudEnd-point and IoTNetworkApplicationGeographyNorth AmericaUSCanadaEuropeFranceGermanyRussiaUKAPACChinaIndiaJapanSouth AmericaBrazilRest of World (ROW)

By End-user Insights

The government segment is estimated to witness significant growth during the forecast period.

Amidst the ever-evolving digital landscape, The market continues to expand, with the government sector leading the charge in 2024. This sector is projected to maintain its dominance throughout the forecast period, fueled by the installation of advanced security systems in both developed and developing nations. Homeland security and defense sectors' significant contributions further bolster this growth. With the increasing importance of data security and confidentiality, governments worldwide invest in cyber security solutions to safeguard sensitive information. In fact, a recent study reveals that the government sector accounted for over 25% of the market in 2023. This trend is expected to persist as governments continue to prioritize cybersecurity, implementing advanced technologies such as machine learning security, intrusion detection systems, and zero trust architecture. Additionally, the adoption of cybersecurity incident response, threat modeling techniques, data encryption techniques, and malware analysis techniques further strengthens their cybersecurity posture. As the threat landscape evolves, governments are also focusing on automation security tools, ransomware attack prevention, and artificial intelligence security to stay ahead of emerging threats. Compliance frameworks, incident response planning, data breach notification, and threat intelligence platforms are essential components of their cybersecurity strategies. Vulnerability assessment scanning, social engineering attacks, security orchestration automation, data loss prevention, risk assessment methodologies, access control management, penetration testing methodologies, phishing email detection, multi-factor authentication, network security protocols, and blockchain security implementation are all critical aspects of their cybersecurity arsenal.

Request Free Sample

The Government segment was valued at USD 43.50 billion in 2019 and showed a gradual increase during the forecast period.

Request Free Sample

Regional Analysis

North America

Companies in the ********* and ******* sectors, as well as in the ******* services sector in Poland, were particularly vulnerable to cybercriminals in 2024.

Introduction

Cybersecurity in Healthcare Statistics: As the healthcare sector increasingly integrates digital technologies, the need for robust cybersecurity measures has become more critical than ever. Adopting electronic health records (EHRs), telemedicine, and connected medical devices has significantly enhanced patient care and operational efficiency.

However, this digital shift has also exposed healthcare organizations to a rising tide of cyber threats, including data breaches, ransomware attacks, and hacks of medical devices. The sensitive nature of the data fuels these threats, such as personal health information (PHI) and payment records, making healthcare one of the most targeted cyberattack industries.

In response to these growing risks, healthcare providers must prioritize implementing stringent cybersecurity policies and embrace cutting-edge technologies like encryption, artificial intelligence, and multi-factor authentication. The sector is grappling with challenges such as outdated security systems, inadequate staff training, and the complexities of safeguarding networks of interconnected devices.

As cyberattacks become more frequent and sophisticated, understanding cybersecurity statistics within healthcare is essential for identifying vulnerabilities, assessing risks, and strengthening defenses to protect sensitive patient data and maintain trust within the industry.

Industrial Cyber Security Market Outlook

The industrial cyber security market size was valued at approximately USD 16 billion in 2023 and is projected to reach around USD 37 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.6% during the forecast period. This burgeoning growth is driven by an increasing emphasis on safeguarding industrial networks against escalating cyber threats in the digital age. As industries worldwide rapidly adopt automation and interconnected systems, the vulnerability to cyber attacks has significantly heightened, boosting the demand for robust cybersecurity solutions tailored for industrial applications. The need for compliance with stringent regulatory frameworks and standards also propels market growth, as industries strive to protect their critical infrastructure from potential disruptions.

A major growth factor for the industrial cyber security market is the proliferation of the Industrial Internet of Things (IIoT). The integration of IoT devices into industrial operations has revolutionized traditional processes, enhancing efficiency and productivity. However, this technological advancement has also expanded the attack surface, making industrial systems more susceptible to cyber threats. Consequently, industries are increasingly investing in advanced cybersecurity measures to safeguard their connected assets, fueling market demand. Furthermore, the convergence of IT and operational technology (OT) networks necessitates comprehensive security solutions that can effectively address the unique challenges posed by this integration.

Another significant driver is the rising awareness regarding the potential financial and reputational damages caused by cyber attacks. High-profile industrial cyber incidents have underscored the critical need for effective cybersecurity strategies, prompting industries to allocate substantial resources towards enhancing their cybersecurity infrastructure. The financial repercussions of cyber attacks, including production downtime and data breaches, can be devastating, emphasizing the importance of proactive security measures. As a result, industries are increasingly prioritizing cybersecurity as a key component of their risk management frameworks, driving market growth.

Additionally, the increasing regulatory pressures are compelling industries to adopt robust cybersecurity solutions. Governments and regulatory bodies worldwide have established stringent cybersecurity standards and guidelines to protect critical infrastructure sectors. Compliance with these regulations is not only essential for mitigating cyber risks but also for avoiding potential legal and financial penalties. As industries strive to align with these regulatory requirements, the demand for comprehensive cybersecurity solutions is expected to witness substantial growth. This regulatory landscape is further augmented by initiatives focused on fostering international cooperation and information sharing to combat cyber threats effectively.

The regional outlook for the industrial cyber security market is characterized by varying growth trajectories and market dynamics. North America is anticipated to dominate the market, driven by the presence of a robust industrial base and increasing investments in cybersecurity technologies. The Asia Pacific region is expected to witness significant growth, fueled by rapid industrialization, technological advancements, and the increasing adoption of IoT solutions. Europe is projected to experience steady growth, supported by stringent regulatory frameworks and the rising focus on securing industrial networks. Meanwhile, the Middle East & Africa and Latin America regions are also expected to contribute to market expansion, driven by the growing awareness of cybersecurity threats and the need to protect critical infrastructure.

Component Analysis

The industrial cyber security market is segmented into components, primarily consisting of solutions and services. Solutions comprise a wide array of security technologies and products designed to protect industrial systems from cyber threats. These include network security solutions, endpoint security, application security, and cloud security, among others. The demand for comprehensive security solutions continues to rise as industries seek to address the evolving threat landscape. As cyber attackers become more sophisticated, industries are adopting advanced threat detection and prevention solutions to safeguard their critical infrastructure. Moreover, the increasing reliance on cloud-based services has further augmented the demand for cloud security solutions, ensuring the protection

Cybersecurity Market Report is Segmented by Offering (Solutions [Application Security, Cloud Security, and More], Services [Professional Services, and More]), Deployment Mode (Cloud, On-Premise), End-User Industry (BFSI, Healthcare, IT and Telecom, Industrial and Defense, Retail and E-Commerce, and More), End-User Enterprise Size (Large Enterprises, Smes), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Cyber Security as a Service Market Outlook

The global Cyber Security as a Service market size was valued at approximately $14 billion in 2023 and is projected to reach $41 billion by 2032, growing at a compound annual growth rate (CAGR) of 12.5% during the forecast period. This remarkable growth is driven by the increasing prevalence of cyber threats and the growing need for robust security solutions across various sectors.

The growth of the Cyber Security as a Service market can be attributed to several key factors. Firstly, the rapid digitization and adoption of cloud services have exposed businesses to a myriad of cyber threats, necessitating advanced security measures. The rise in sophisticated cyber-attacks, such as ransomware, phishing, and malware, has compelled organizations to seek comprehensive security solutions to safeguard their data and ensure business continuity. Additionally, regulatory requirements and compliance mandates across industries are driving the demand for managed security services, further propelling market growth.

Secondly, the increasing adoption of Internet of Things (IoT) devices has expanded the attack surface, making enterprises more vulnerable to cyber-attacks. As IoT devices become integral to business operations, securing these devices has become paramount. Cyber Security as a Service offers scalable and flexible solutions to monitor and protect IoT ecosystems, thereby addressing the security challenges posed by these interconnected devices. Furthermore, the growing awareness about the financial and reputational damage caused by data breaches is prompting businesses to invest heavily in cybersecurity services.

Thirdly, the shortage of skilled cybersecurity professionals is a significant growth driver for the market. Many organizations lack the in-house expertise required to effectively combat evolving cyber threats. As a result, they are increasingly turning to third-party service providers to manage their cybersecurity needs. Cyber Security as a Service offers access to a pool of experts, advanced technologies, and continuous monitoring capabilities, enabling businesses to strengthen their security posture without the need for extensive internal resources.

The integration of Financial Services Cybersecurity Systems and Services is becoming increasingly vital in the face of evolving cyber threats. Financial institutions are prime targets for cybercriminals due to the sensitive nature of financial data and transactions. As a result, there is a growing emphasis on developing comprehensive cybersecurity frameworks that encompass both preventive and responsive measures. These systems and services are designed to protect financial data, ensure compliance with regulatory requirements, and maintain customer trust. By leveraging advanced technologies such as artificial intelligence and machine learning, financial institutions can enhance their threat detection and response capabilities, thereby safeguarding their operations from potential cyber threats.

From a regional perspective, North America is expected to dominate the Cyber Security as a Service market during the forecast period. The presence of major cybersecurity vendors, coupled with stringent regulatory frameworks and high adoption rates of advanced technologies, contribute to the region's leading position. However, the Asia Pacific region is anticipated to witness the highest growth rate, driven by increasing digital transformation initiatives, rising cybercrime incidents, and growing awareness about cybersecurity solutions.

Service Type Analysis

In the Cyber Security as a Service market, the service type segment is pivotal, covering services such as Threat Intelligence, Managed Security Services, Security Monitoring and Analytics, Incident Response, Compliance Management, and others. The diverse nature of cyber threats necessitates a variety of specialized services, each catering to different facets of cybersecurity.

Threat Intelligence services play a crucial role in the market. These services involve the collection, analysis, and dissemination of information about potential or ongoing cyber threats. By leveraging advanced analytics and machine learning, threat intelligence services provide actionable insights that help organizations anticipate and mitigate cyber risks before they materialize. The growing complexity of cyber threats and the need for proactive threat management

Cyber Security Market Outlook

According to our latest research, the global cyber security market size reached USD 203.8 billion in 2024, reflecting robust demand for advanced security solutions across industries. Driven by the proliferation of cyber threats and stringent regulatory requirements, the market is expected to register a CAGR of 10.7% from 2025 to 2033. By the end of 2033, the cyber security market is forecasted to reach USD 510.7 billion. This remarkable growth is underpinned by increasing digital transformation initiatives, rising adoption of cloud computing, and the ever-evolving threat landscape that compels organizations to invest heavily in innovative security technologies.

One of the primary growth drivers for the cyber security market is the exponential rise in sophisticated cyber-attacks targeting both public and private sector organizations. The increasing use of advanced malware, ransomware, and phishing schemes has necessitated the deployment of robust security frameworks. Enterprises are recognizing the need to move beyond traditional security measures and invest in next-generation solutions that offer real-time threat intelligence, automated response, and predictive analytics. The growing adoption of Internet of Things (IoT) devices and the expansion of remote work environments have further broadened the attack surface, compelling organizations to prioritize cyber security as a critical business function. Regulatory mandates such as GDPR, CCPA, and other data protection laws are also fueling investments in compliance-driven security solutions, making cyber security a central pillar of enterprise risk management.

Another significant factor contributing to market expansion is the accelerated shift towards cloud-based environments. As organizations migrate their workloads to the cloud, the complexity of securing data, applications, and infrastructure increases substantially. Cloud security has become a focal point, with vendors offering specialized solutions to address multi-cloud and hybrid environments. The integration of artificial intelligence (AI) and machine learning (ML) in security platforms is enabling faster detection and mitigation of threats, thereby enhancing the overall efficacy of cyber defenses. Additionally, the emergence of zero-trust security models, which assume every user and device as a potential threat, is gaining traction among enterprises seeking to minimize risks associated with unauthorized access and insider threats.

The cyber security market is also witnessing strong growth due to the increasing digitalization of critical infrastructure sectors such as healthcare, banking, energy, and government. These sectors are high-value targets for cybercriminals due to the sensitive nature of the data they handle. The integration of operational technology (OT) and information technology (IT) systems in these sectors has created new vulnerabilities, prompting significant investments in sector-specific security solutions. Additionally, the rise of nation-state cyber warfare and politically motivated attacks has heightened the need for advanced threat detection and response capabilities. As organizations continue to embrace digital transformation, the demand for comprehensive, scalable, and adaptive security solutions will remain a key market driver.

In the realm of Defense Cyber Security, the stakes are particularly high as nation-states and organized cybercriminal groups target military and defense infrastructures. These sectors are often at the forefront of cyber warfare, necessitating the deployment of cutting-edge security technologies. Defense organizations are increasingly investing in advanced threat detection systems, secure communication networks, and cyber resilience strategies to safeguard national security interests. The integration of artificial intelligence and machine learning in defense cyber security solutions is enhancing the ability to predict and neutralize threats before they can cause significant damage. As geopolitical tensions rise, the demand for robust defense cyber security measures continues to grow, underscoring the critical role of cyber security in national defense strategies.

From a regional perspective, North America continues to dominate the global cyber security market, accounting for the largest revenue share in 2024. The r

[227+ Pages Report] Global Cyber Security Market size & share projected to hit a record value of USD 398.3 Billion by 2026 at an anticipated CAGR growth rate of 14.9% during the forecast period 2021-2026. Increasing use of technological measures in the sectors of retails, BSFI, information and technology, and manufacturing will boost the footprint of global cyber security market to a larger footprint.