In 2023, spending in the cybersecurity industry reached around 80 billion U.S. dollars, with forecasts suggesting that the market will eclipse 87 billion U.S. dollars by 2024. Global spending on cybersecurity has been increasing since 2021.

Cybersecurity remains a priority

Since the outbreak of the COVID-19 pandemic, organizations worldwide have sent their employees into the home office for work. This decentralization of an organization’s IT landscape created new vulnerabilities of malicious actors to exploit which is concurred by IT professionals’ observation that there is an increase in cyber attacks following the COVID-19 pandemic. As a result, cybersecurity remains a priority among business leaders to ensure operability of the company and data security.

Cybersecurity solutions

Among solutions for cybersecurity are endpoint security, identity access management, data security, and network security. These technologies are leveraged to protect sensitive information and critical systems from attacks. More specifically, these measures are designed to protect threats originating both from inside and outside an organization. This underscores the need to think of cybersecurity as a comprehensive strategy made up of practices and technologies.

From 2019 to 2026, the annual growth rate of spending on cybersecurity, worldwide, ranged from seven to fourteen percent across various industries. The highest highest increase in spending in cybersecurity was within the healthcare sector, with an annual compound growth rate of 14 percent. On the other hand, the lowest growth rate was found in the sector of Aerospace and defence.

Percentage of enterprises that identified specific main reasons for spending time or money on cyber security measures or related skills training by the North American Industry Classification System (NAICS) and size of enterprise.

The Cyber Security Market report segments the industry into By Offering (Solutions, Services), By Deployment (On-Premise, Cloud), By End-User Industry (IT and Telecom, BFSI, Retail and E-Commerce, Oil Gas and Energy, Manufacturing, Government and Defense, Other End-user Industries), and By Geography (North America, Europe, Asia, Latin America, Middle East and Africa). Get five years of historical data and market forecasts.

A 2023 survey revealed that 89 percent of board members of companies active in business and professional services worldwide expect an increase in cybersecurity budget in the following 12 months. A similar share of board members of media, leisure, and entertainment companies also reported anticipating a budget increase. Among other sectors expecting an increase in cybersecurity spending were healthcare and energy, with 85 percent of board members confirming it.

IT Security Spending Market Outlook

The global IT security spending market size was valued at approximately $145 billion in 2023 and is projected to reach over $282 billion by 2032, growing at a robust CAGR of 7.5% during the forecast period. This surge in the market size can primarily be attributed to the increasing frequency and sophistication of cyber threats, which has necessitated heightened investments in IT security infrastructure across various industries. The escalating adoption of cloud-based services and the proliferation of Internet of Things (IoT) devices have further contributed to the expansion of this market, as organizations strive to protect sensitive data against breaches and unauthorized access. Additionally, regulatory requirements and compliance mandates continue to drive businesses towards more robust security solutions, adding further momentum to market growth.

One of the key growth factors propelling the IT security spending market is the rapid digital transformation across industries. As businesses increasingly shift towards digital platforms for operations, customer engagement, and data management, the risk of cyber threats escalates correspondingly. The transition to digital channels has opened new pathways for cyber criminals, necessitating advanced security measures. Another critical driver is the persistent evolution of cyber threats. Cybercriminals are becoming more sophisticated in their methods, leveraging advanced technologies such as artificial intelligence to carry out targeted attacks. This has compelled organizations to continuously upgrade their security frameworks, thereby escalating spending on IT security solutions and services. Furthermore, the rise in remote work environments due to the global pandemic has significantly increased the attack surface, prompting the need for enhanced security measures to protect remote endpoints and networks.

Moreover, regulatory and compliance requirements play a crucial role in driving IT security spending. Governments and industry bodies worldwide have implemented stringent data protection regulations, such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). These regulations mandate organizations to implement robust security measures to safeguard sensitive customer data, leading to increased investments in security solutions. Additionally, insurance companies are increasingly demanding higher security standards from businesses to provide coverage for cyber risks. This has further spurred organizations to allocate more resources towards IT security to meet the compliance demands and mitigate potential financial liabilities arising from data breaches and cyber incidents.

Also, the growing awareness of the potential financial and reputational damage caused by cyber-attacks has compelled organizations to prioritize IT security spending. High-profile data breaches and ransomware attacks have underscored the significance of robust cybersecurity strategies. As a result, organizations are increasingly recognizing IT security as a strategic investment rather than a cost center. The need to protect intellectual property, customer trust, and business continuity has led to a heightened focus on strengthening security infrastructure. Furthermore, the integration of emerging technologies, such as artificial intelligence and machine learning, into security solutions is expected to drive market growth by enabling proactive threat detection and response capabilities.

Component Analysis

In the IT security spending market, the component segment is broadly categorized into solutions and services. Solutions encompass a wide array of security products, such as firewalls, antivirus software, intrusion detection systems, and encryption tools, which form the backbone of an organization's security framework. The demand for comprehensive security solutions is driven by the need to protect increasingly complex IT infrastructures from sophisticated cyber threats. Organizations are investing heavily in solutions that offer real-time threat detection and prevention capabilities, thereby enabling them to respond swiftly to potential attacks. The increasing adoption of advanced security solutions, such as security information and event management (SIEM) systems and unified threat management (UTM) systems, is a testament to the growing emphasis on integrated security strategies.

Services, on the other hand, play a pivotal role in the IT security ecosystem by providing organizations with the expertise and resources needed to design, implement, and maintain effective security strategies. These services encompass

In a 2024 survey, 30 percent of business and technology executives surveyed for the study expected their company's cyber budget to increase between six and ten percent in 2025. Overall, 77 percent of respondents worldwide anticipate their organization's cybersecurity budget to increase in 2025.

The average spend per employee in the cybersecurity market in Israel is estimated to increase between 2024 to 2029, from 204.6 to 284.4 U.S. dollars. The average spending in this sector gradually increased during the period observed. Cybersecurity is a prominent industry within the high-tech sector in Israel. In 2024, the value of investment in cyber companies in the country surpassed 3.6 billion U.S. dollars.

Cyber Security Market size is expected to be worth around USD 608.3 Billion by 2033, growing at a CAGR of 12.2% during the forecast period.

Average spending on specific measures to prevent or detect cyber security incidents by the North American Industry Classification System (NAICS) and size of enterprise.

As of February 2023, governmental institutions accounted for approximately 20 percent of the total spend on cyber security solutions in the Asia-Pacific region. At the same time, the banking sector accounted for over 15 percent of cyber security spending in APAC.

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.

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US Government Cyber Security Market Size 2025-2029

The US government cyber security market size is forecast to increase by USD 4.18 billion, at a CAGR of 6.1% between 2024 and 2029.

The U.S. government cyber security market is driven by escalating cyber threats and advancements in security technology. Key factors include a shift toward proactive defense measures as agencies prioritize data protection, alongside innovations like AI-driven threat detection that enhance response capabilities. The growing adoption of Bring Your Own Device (BYOD) policies in government organizations, which necessitates additional cyber security measures to protect sensitive data.
This report provides a detailed view of market size, growth forecasts through 2029, and key segments such as network security and endpoint protection, offering practical insights for shaping strategies, engaging stakeholders, and optimizing operations. It highlights the trend of zero-trust architecture as a critical shift in securing systems, while addressing challenges like budget constraints that can limit technology adoption. Enterprise security solutions are in high demand to safeguard against cyber threats in academia, manufacturing, banking, financial services, healthcare, IoT, travel and transportation, energy and utilities, and other industries. For businesses aiming to stay competitive in the U.S. government cybersecurity market, this report delivers essential data and analysis to navigate evolving threats and address operational complexities effectively.

What will be the Size of the market During the Forecast Period?

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The US government cyber security market is experiencing significant growth due to escalating digital attacks on critical infrastructure and increasing regulatory compliance demands across various sectors. Moreover, hybrid cloud settings present unique challenges, necessitating advanced security measures. Cyber Centers play a crucial role in developing and implementing strong defense strategies. The IoT market, with its proliferation of connected devices, poses new vulnerabilities, driving the demand for IoT solutions. Regulatory compliance and data protection are top priorities, particularly in sectors handling sensitive information. Remote work and digital transactions further expand the attack surface, necessitating continuous innovation in cyber security solutions.
Threat deception, network firewalls, and BYOD policies are essential components in safeguarding modern enterprises from cyber threats and data breaches. The evolution of AI has revolutionized security practices, enabling smarter threat detection and response strategies. Cloud platforms, hybrid cloud infrastructures, and secure gateways ensure flexibility and scalability while maintaining robust cybersecurity. Single sign-on (SSO) solutions enhance user authentication, simplifying access management while protecting confidential data. IoT security and endpoint security measures are critical in securing a growing range of connected devices across the enterprise. Application security and regulatory compliance are key to ensuring data protection and meeting legal requirements. The rise of cyber espionage and advanced cyber threats necessitate continuous innovation in security technologies. Security innovations are driven by the need to adapt to the ever-changing market evolution and the increasing sophistication of attackers. As IT services evolve, integrating comprehensive security strategies and advanced technologies becomes more critical than ever in mitigating risks and safeguarding sensitive information.

How is this market segmented and which is the largest segment?

The market 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-user

  US intelligence community
  Department of homeland security
  Department of defense


Deployment

  On-premises
  Cloud-based


Product

  Services
  Solutions


Security Type

  Network Security
  Endpoint Security
  Application Security
  Cloud Security


Threat Type

  Cyber-Attacks
  Data Breaches
  Espionage
  DDoS Attacks


Geography

  US

By End-user Insights

The US intelligence community segment is estimated to witness significant growth during the forecast period. The US Intelligence Community is a collective of 17 US government agencies responsible for conducting intelligence activities to support American foreign policy and national security. Agencies involved include intelligence services, military intelligence, and civilian intelligence entities. Notable members are the Central Intelligence Agency, National Security Agency, Army Military Intelligence, and the Federal Bureau of Investigation's National Security Branch. These entities collabo

The Internet of Things has changed how society operates, from businesses undertaking their activity online to transferring financial information via online data packets. However, the digital age has also allowed cyber-attacks and malware to obtain unauthorised access to computer networks for financial gain or personal data, threatening businesses and public resources. The Cyber Security Software Development industry has rapidly gained prominence as cyber threats continue to evolve in complexity and volume. The government's cybercrime statistics reveal that in 2023, UK businesses faced approximately 7.8 million cybercrimes, pushing organisations to ramp up their cyber defences. High-profile cyber breaches have sped up investment in intrusion prevention systems and given a boost to innovation-led cyber start-ups pioneering a new era of security software. The influx of public funding, like the £2.6 billion National Cyber Security Strategy (NCSS) 2022-2025, has supported sustained growth and development in an increasingly vulnerable digital landscape. Over the five years through 2024-25, cyber security software developers' revenue is set to climb at a compound annual rate of 7.3% to reach £1.2 billion. Revenue is anticipated to swell by 8.9% in 2024-25 as demand for cyber security continues to soar. A recurring revenue model has supported profit, although it's been held back by high wage costs and considerable investment in R&D. As malware becomes more and more complex, spending on defence software will continue to swell. Over the five years through 2029-30, revenue is forecast to grow at a compound annual rate of 8.7% to reach £1.9 billion. The government's ongoing NCSS will continue to facilitate UK cyber security initiatives, helping to close the current skills gap in the cyber market. New data protection laws, which come with hefty fines, will make businesses think twice about their cyber security solutions; they'll boost their spending on new IT defence software to ensure they don't break the rules. However, the long-term success of next-generation cyber start-ups depends on their ability to attract equity investment.

In 2023, the average spend per employee in the cybersecurity market in Singapore reached about 128 U.S. dollars, slightly up from the previous year. The Statista Technology Market Outlook estimates that the average spend per employee in the cybersecurity market will further increase to around 204 U.S. dollars in 2029.

The global IT security spending in the government sector is experiencing robust growth, driven by escalating cyber threats and the increasing reliance on digital infrastructure within governmental operations. The market, estimated at $XX billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of XX% from 2025 to 2033, reaching a significant market value. This expansion is fueled by several key factors. Firstly, governments worldwide are prioritizing cybersecurity investments to protect critical national infrastructure, sensitive data, and citizen information from sophisticated cyberattacks. Secondly, the increasing adoption of cloud computing and the Internet of Things (IoT) within government agencies expands the attack surface, necessitating enhanced security measures. Thirdly, stringent data privacy regulations and compliance mandates are driving the demand for advanced security solutions, such as data loss prevention (DLP) and encryption technologies. Furthermore, the ongoing geopolitical instability and rise in state-sponsored cyberattacks are compelling governments to bolster their cybersecurity defenses. The market segmentation reveals considerable opportunity across various technologies and applications. The "Type" segment likely includes solutions like network security, endpoint security, cloud security, and security information and event management (SIEM). The "Application" segment might cover areas such as defense, public safety, healthcare, and administrative services. While North America currently holds a significant market share due to advanced technology adoption and high cybersecurity awareness, regions like Asia-Pacific are witnessing rapid growth, driven by increasing government digitalization initiatives and economic expansion. Leading vendors like Check Point Software, Cisco, Fortinet, Juniper Networks, and Symantec are actively competing to capture market share by providing innovative security solutions tailored to government requirements. However, budgetary constraints, legacy systems, and a shortage of skilled cybersecurity professionals pose challenges to market expansion. Nevertheless, the long-term outlook remains positive, projecting continued substantial growth throughout the forecast period.

IT Security Spending in Government Market Outlook

The global IT security spending in the government market size was valued at USD 50.2 billion in 2023 and is projected to reach USD 125.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.6% during the forecast period. The growth of this market is driven by the escalating frequency and sophistication of cyber-attacks targeting government infrastructures worldwide, necessitating substantial investment in advanced security measures.

One significant factor contributing to the growth of the IT security spending in the government market is the increasing adoption of digital transformation initiatives across various government levels. As governments strive to provide more efficient and accessible services to citizens, they are increasingly relying on digital platforms and technologies. However, this digital shift comes with a heightened risk of cyber threats, prompting substantial investment in robust IT security solutions to protect sensitive data and critical infrastructure. Furthermore, the COVID-19 pandemic has accelerated the adoption of remote work and online services within government agencies, further emphasizing the need for enhanced cybersecurity measures.

Another factor driving market growth is the stringent regulatory and compliance requirements imposed by governments globally. Governments are mandated to adhere to various data protection laws and regulations to safeguard citizen data and maintain public trust. These regulations necessitate the implementation of advanced security solutions, such as identity and access management, encryption, and data loss prevention, thereby driving the demand for IT security spending in the government sector. Additionally, increasing awareness of the potential consequences of cyber-attacks, including financial losses, reputational damage, and national security threats, is compelling governments to allocate significant budgets for IT security investments.

The rapid advancements in technology and the evolving threat landscape are also key drivers of market growth. Cyber adversaries are continuously developing sophisticated attack techniques, necessitating the development and deployment of innovative security solutions. Governments are investing in next-generation security technologies, such as artificial intelligence, machine learning, and blockchain, to stay ahead of cyber threats. These technologies enable proactive threat detection, real-time monitoring, and effective incident response, thereby strengthening the overall security posture of government agencies. The increasing focus on modernization and upgrading existing IT security infrastructure is further propelling market growth.

In recent years, IT Security Spending has become a focal point for government agencies worldwide. As cyber threats continue to evolve, governments are recognizing the critical need to allocate substantial budgets towards IT security initiatives. This spending is not just about acquiring the latest technologies but also about building a resilient cybersecurity infrastructure that can withstand sophisticated cyber-attacks. By investing in IT security, governments aim to protect national interests, secure sensitive data, and maintain public trust. The emphasis on IT security spending reflects a broader commitment to safeguarding digital assets and ensuring the continuity of government operations in an increasingly digital world.

Regionally, North America holds a dominant position in the IT security spending in the government market, owing to the presence of technologically advanced countries such as the United States and Canada. The region's strong focus on cybersecurity, coupled with substantial government investments in security infrastructure, drives market growth. Europe is also a significant market, driven by stringent data protection regulations such as the General Data Protection Regulation (GDPR) and increasing cyber threats. The Asia Pacific region is witnessing rapid growth, fueled by the digitalization initiatives of emerging economies like China and India. Latin America and the Middle East & Africa regions are also experiencing increasing IT security spending, driven by the growing awareness of cybersecurity risks and the need to protect critical government assets.

Solution Type Analysis

Identity and Access Management (IAM) is a crucial segment in the IT security spending in the government market. Governments are increasingly recognizing th

Average spending on specific measures to recover from cyber security incidents by the North American Industry Classification System (NAICS) and size of enterprise.

The Vietnamese cybersecurity market, exhibiting a robust Compound Annual Growth Rate (CAGR) of 16.80%, is poised for significant expansion between 2025 and 2033. Driven by increasing digitalization across sectors like BFSI (Banking, Financial Services, and Insurance), healthcare, manufacturing, and government, the demand for sophisticated cybersecurity solutions is surging. The market's growth is fueled by the rising adoption of cloud-based security services, a trend reflecting the increasing reliance on remote work and digital transactions. Furthermore, escalating cyber threats, including sophisticated ransomware attacks and data breaches, are compelling organizations to invest heavily in robust security measures, both on-premise and in the cloud. Key players like IBM Vietnam, Amazon Web Services Vietnam, Viettel Cyber Security, and FPT Corporation are actively shaping the market landscape, offering a range of security solutions and services tailored to diverse organizational needs. The market segmentation reveals a strong preference for cloud deployment, highlighting the convenience and scalability offered by cloud-based security. While the exact current market size isn't provided, based on the 16.8% CAGR and the forecast period, substantial growth is predicted, impacting the overall market value. The on-premise segment, though experiencing growth, is likely to witness slower expansion compared to cloud-based solutions due to the higher initial investment and ongoing maintenance costs. The BFSI sector currently leads in cybersecurity spending due to stringent regulatory compliance requirements and the sensitivity of financial data. However, other sectors such as healthcare and government are rapidly catching up, driven by increased awareness of data privacy and security threats. Growth constraints might include the digital literacy gap and a shortage of skilled cybersecurity professionals within Vietnam. Addressing these limitations through comprehensive training programs and fostering collaboration within the industry will be crucial for sustaining the market's impressive growth trajectory. This robust growth necessitates a proactive approach by businesses in navigating the evolving threat landscape and investing strategically in robust security frameworks to protect their valuable assets. Recent developments include: August 2022 - Kasikornbank (KBank) of Thailand is pushing ahead with intentions to become a regional digital bank with an expansion drive in Vietnam. KBank intends to invest more than 2.7 billion baht (about USD 75 million) in strengthening its service network throughout AEC+3 (ASEAN plus Japan, China, and the Republic of Korea) to serve clients across all sectors with digital services., July 2022 - Amazon Web Services (AWS) is expanding in Vietnam by encouraging more customers to keep their data on its offshore-located cloud. However, the Vietnamese government is also pressuring domestic enterprises to keep their data in the country for security reasons. Amazon has attempted to expand its footprint in Vietnam to secure national data center customers. In 2021, the firm revealed AWS branches in Vietnam and launched its global IT training program.. Key drivers for this market are: Increasing Demand for Digitalization and Scalable IT Infrastructure, Growing IoT Connections Demanding Strengthened Cybersecurity in Enterprises. Potential restraints include: Lack of Cybersecurity Professionals and Outdated Cybersecurity Technology. Notable trends are: Increasing Demand for Digitalization and Scalable IT Infrastructure.

The Chilean cybersecurity market, exhibiting a robust Compound Annual Growth Rate (CAGR) of 9.80%, presents a compelling investment opportunity. While precise market sizing data for 2025 isn't provided, extrapolating from the available information and considering the global cybersecurity market trends, a reasonable estimate for the 2025 market value in Chile could be around $150 million USD. This growth is driven by increasing digitalization across sectors like BFSI (Banking, Financial Services, and Insurance), Healthcare, and Government, necessitating robust cybersecurity infrastructure to mitigate rising cyber threats. The adoption of cloud-based security solutions is a significant trend, offering scalability and cost-effectiveness compared to on-premise deployments. However, limitations such as a shortage of skilled cybersecurity professionals and the relatively nascent stage of cybersecurity awareness among some businesses act as restraints. The market is segmented by offering (security type and services), deployment (cloud and on-premise), and end-user (BFSI, Healthcare, Manufacturing, Government & Defense, IT & Telecommunications, and Others). Major players like Leonardo, AVG Technologies, Check Point Software, Cisco, and others are competing in this expanding market, offering a diverse range of security solutions catering to the specific needs of different sectors. The forecast period from 2025 to 2033 is anticipated to witness significant growth, driven by increasing government regulations around data protection and privacy, growing adoption of IoT devices, and the escalating sophistication of cyberattacks. The BFSI sector is expected to remain a key driver due to its reliance on sensitive financial data. The Healthcare sector is also experiencing rapid growth in cybersecurity spending due to increasing regulations concerning patient data privacy. The government and defense sector is also expected to contribute substantially due to the need for critical infrastructure protection. Continued investment in advanced security technologies like AI-driven threat detection and response systems will shape the market landscape. The competitive landscape will likely see increased consolidation as companies strive to offer comprehensive security solutions. Recent developments include: February 2022 - Cisco and Rakuten signed an agreement to accelerate the open RAN and telco cloud market. The deal will offer solutions allowing mobile operators to compete more effectively in the cloud era., August 2022 - Radware launched a cloud security center in Santiago, Chile. This facility will enable customers in Argentina, Chile, Peru, and Uruguay to strengthen their cyber defenses, secure their web and mobile applications and APIs with minimal latency, and meet data localization requirements. The launch is a part of Radware's cloud services initiative to design and accelerate cloud innovation to provide customers with the highest level of cyber security services.. Key drivers for this market are: Increasing Demand for Digitalization and Scalable IT Infrastructure, Need to Tackle Risks from Various Trends such as Third-party Vendor Risks, Evolution of MSSPs, and the Adoption of Cloud-first Strategy. Potential restraints include: Increasing Demand for Digitalization and Scalable IT Infrastructure, Need to Tackle Risks from Various Trends such as Third-party Vendor Risks, Evolution of MSSPs, and the Adoption of Cloud-first Strategy. Notable trends are: Cloud Deployment Strengthened Cyber Security Market Growth.