The global indicator 'Estimated Cost of Cybercrime' in the cybersecurity market was forecast to continuously increase between 2024 and 2029 by in total *** trillion U.S. dollars (+***** percent). After the eleventh consecutive increasing year, the indicator is estimated to reach ***** trillion U.S. dollars and therefore a new peak in 2029. Notably, the indicator 'Estimated Cost of Cybercrime' of the cybersecurity market was continuously increasing over the past years. Ransomware and manufacturing industry Cyberattacks remain a significant challenge for organizations worldwide, sectors such as manufacturing, finance, and insurance were the most affected by these attacks. Among the various types of cyber threats, ransomware was the most frequently detected, accounting for around ** percent of all incidents. The manufacturing industry, in particular, faced the highest number of ransomware attacks, making it the most targeted sector globally. Cybersecurity awareness and investments Organizations worldwide became increasingly aware of the dangers posed by cyberattacks, approximately ** percent of internet users became familiar terms such as with "ransomware." In response to these threats, companies invested more in cybersecurity. In 2024, the average annual increase in IT security budgets was expected to reach *** percent. In fact, for companies worldwide, enhancing the cyber resilience of their cybersecurity teams was the top spending priority in 2023.

Cybercrime costs in the United States reached an estimated 452.3 billion U.S. dollars in 2024. Between 2017 and 2024, this figure has seen a significant increase. According to the latest estimates, this dynamic will continue in upcoming years, reaching approximately 1.82 trillion U.S. dollars in cybercrime costs by 2028.

In 2023, the largest median cost of all cyber attacks to European firms was for The United Kingdom who sufferd a cost of 24.2 thousands of dollars for being attacked.

Annual costs of cybercrime in France reached an estimated *** billion U.S. dollars in 2024. Between 2016 and 2023, this figure has seen a significant increase of over ** billion U.S. dollars. According to the latest estimates, this dynamic will continue in upcoming years, reaching *** billion U.S. dollars in cybercrime costs by 2028.

The annual costs of cybercrime in Italy reached an estimated ** billion U.S. dollars in 2023. Between 2016 and 2023, this figure has seen a significant increase of over ** billion U.S. dollars. According to the latest estimates, this trend will continue in upcoming years, reaching *** billion U.S. dollars in cybercrime costs by 2026 in the country.

Cybercrime costs in Canada reached an estimated 3.82 billion U.S. dollars as of 2023. Between 2017 and 2023, this figure gradually increased. According to the latest estimates, this dynamic will continue in upcoming years, reaching approximately 4.78 billion U.S. dollars in cybercrime costs by 2028.

As of 2024, the average cost of a data breach in the United States amounted to **** million U.S. dollars, down from **** million U.S. dollars in the previous year. The global average cost per data breach was **** million U.S. dollars in 2024. Cost of a data breach in different countries worldwide Data breaches impose a big threat for organizations globally. The monetary damage caused by data breaches has increased in many markets in the past decade. In 2023, Canada followed the U.S. by data breach costs, with an average of **** million U.S. dollars. Since 2019, the average monetary damage caused by loss of sensitive information in Canada has increased notably. In the United Kingdom, the average cost of a data breach in 2024 amounted to around **** million U.S. dollars, while in Germany it stood at **** million U.S. dollars. The cost of data breach by industry and segment Data breach costs vary depending on the industry and segment. For the fourth consecutive year, the global healthcare sector registered the highest costs of data breach, which in 2024 amounted to about **** million U.S. dollars. Financial institutions ranked second, with an average cost of *** million U.S. dollars for a data breach. Detection and escalation was the costliest segment in data breaches worldwide, with **** U.S. dollars on average. The cost for lost business ranked second, while response following a breach came across as the third-costliest segment.

Police-reported cybercrime, number of incidents and rate per 100,000 population, Canada, provinces, territories, Census Metropolitan Areas and Canadian Forces Military Police, 2014 to 2023.

As of February 2024, the United States ranked first by the average cost of a data breach, 9.36 million U.S. dollars. The average cost of data breaches in the Middle East is 8.75 million U.S. dollars. Benelux followed in the ranking, with 5.9 million U.S. dollars. In the measured period, the global average data breach cost was 4.88 million U.S. dollars. Phishing scams in the U.S. Breached data often ends up in the hands of threat actors who use it for malicious purposes, including online scams. Phishing continues to be a major threat in North America, particularly on smartphones. In the second quarter of 2023, the region recorded the highest number of phishing and malicious attack attempts globally. The United States was particularly affected, with 45 percent of U.S. citizens reporting being targeted by scam texts, e-mails, and calls on a daily basis. Additionally, phishing and spoofing were the most common types of cybercrime, impacting 298 thousand individuals in 2023. These attacks led to financial losses, with U.S. victims reporting nearly 20 billion U.S. dollars in damages throughout the year. U.S. users and data privacy Despite only 20 percent of internet users in the United States being highly knowledgeable about data privacy and cybersecurity, a significant portion of users demonstrated caution and awareness in protecting their information. In fact, over half of surveyed U.S. users reported being somewhat confident in knowing the right steps to take in the event of a cyberattack. Furthermore, 43 percent of U.S. users actively decline cookies on websites, reflecting their increasing concern for data protection. Many respondents also take additional steps to safeguard their digital privacy, such as limiting or avoiding clicking on ads as well as not answering phone calls due to cybersecurity risks.

Cybercrime costs in the United Kingdom (UK) reached an estimated 51.81 billion U.S. dollars in 2024. Between 2017 and 2024, this figure has seen a significant increase. According to the latest estimates, this dynamic will continue in upcoming years, reaching approximately 98 billion U.S. dollars in cybercrime costs by 2028.

Did the COVID-19 pandemic really affect cybersecurity? Short answer – Yes. Cybercrime is up 600% due to COVID-19.

As per Cognitive Market Research's latest published report, the Global Cyber Security market size was $154.80 Billion in 2022 and it is forecasted to reach $353.15 Billion by 2030. Cyber Security Industry's Compound Annual Growth Rate will be 10.8% from 2023 to 2030. Market Dynamics of Cyber Security Market:

Increased target based cyber-attacks:

Every year, cybercrime dramatically rises as attackers become more proficient and sophisticated. In target-based cyberattacks, hackers or attackers focus on a single organisation because they have a particular business interest. Putting the attack together could take months so they can figure out the best way to get their exploit into your systems (or users). Because it has been precisely designed to attack your systems, processes, or persons, at the office and often at home, a targeted attack is frequently more harmful than an untargeted one. In addition to having an impact on the organization's and business's finances, cybersecurity also makes businesses more vulnerable and uncertain.

Cyberattacks can potentially harm a company's reputation, especially if private customer information is taken. The established customer trust may suffer as a result of cyberattacks. This breach of trust may be challenging to repair and may have long-term effects on the company. The activities of a company are also disrupted by these attacks, making it difficult or impossible to access vital systems or data. This might cause delays in manufacturing, disrupt customer service, and result in lost income. Businesses may occasionally have to stop operating completely until the attack is stopped, which will have a greater financial impact.

Growing need for automated cybersecurity due to the increased use of IoT devices.

Restraining Factor:

Budget restrictions and a lack of specialists among SME's:

Cybersecurity is crucial prat of any organization as it protects against unwanted access, theft, and damage to critical data and computer systems. Cyber-attacks are growing more prevalent in today's digital environment, and they could have very negative effects. Due to the complexity of technology, many organisations, especially SME's, cannot afford cybersecurity despite its necessity. Cybersecurity can be complicated and calls for knowledge in fields like software development, network security, and cryptography. The cost of acquiring and maintaining this expertise might be high. In addition, considering the consistently evolving cyber threats, the updating of cybersecurity measures is necessary. This requires ongoing investment in technology, personnel, and training. Therefore, budget restrictions coupled with expensive tools and software’s and a lack of specialists in SME's might affect the growth of the cyber security market.

Current Trends on Cyber Security:

Rising e-commerce platforms and online shopping:

Rising disposable income coupled with high penetration of internet and smartphone expected to drive the e-commerce market and online shopping. Online shopping is incredibly convenient for consumers as they can shop from the comfort of their homes or on-the-go using their smartphones or tablets. This is especially true during the COVID-19 pandemic when physical stores are closed or people prefer to avoid crowded places. In addition, online retailers can offer lower prices compared to physical stores due to lower overhead costs. Moreover, E-commerce platforms are open 24/7, which allows customers to shop at any time that is convenient for them. With advances in technology, e-commerce platforms have improved their shipping and delivery options. Overall, rising e-commerce platforms and online shopping provides new opportunities to cyber security market.

Impact of COVID-19 pandemic on Cyber Security Market:

With the widespread shift to remote work and online services, there has been a surge in cyber-attacks, making cyber security more important in COVID-19 pandemic. Organizations are investing in cyber security solutions to safeguard their systems and data as a result of the rise in cyberattacks brought on by the epidemic. The need for cyber security goods and services has increased as a result. Budget restrictions, especially for SME's, have been brought on by the economic burden of the epidemic on many organisations. Cost-effective cyber security solutions are now receiving more attention as a result of this. The CO...

In 2024, the average cost of an industrial data breach reached its peak with an average of 5.56 million U.S. dollars, up from 4.73 million U.S. dollars in 2023. In comparison, the global average cost of a data breach across all studied industries was 4.88 million U.S. dollars.

Cyber crime costs in Spain reached an estimated 49.42 billion U.S. dollars as of 2023. Between 2017 and 2023, this figure has seen a significant increase of over 40 billion U.S. dollars. According to the latest estimates, this dynamic will continue in upcoming years, reaching approximately 137.7 billion U.S. dollars in cyber crime costs by 2028.

Cybercrime and Security Market Outlook

The global cybercrime and security market size was valued at USD 152.71 billion in 2023 and is projected to reach USD 352.69 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.5% during the forecast period. This impressive growth can be attributed to the increasing frequency and sophistication of cyber-attacks, compelling organizations to invest heavily in robust security measures.

The demand for advanced cybersecurity solutions is being driven by the exponential rise in cyber threats, such as ransomware, phishing, and denial-of-service (DoS) attacks. These threats pose significant risks to both enterprises and individuals, leading to substantial financial losses, operational disruptions, and reputational damage. Consequently, businesses across various sectors are prioritizing their cybersecurity strategies and allocating higher budgets to safeguard their digital assets.

Furthermore, the adoption of emerging technologies like the Internet of Things (IoT), artificial intelligence (AI), and cloud computing has expanded the attack surface for cybercriminals. While these technologies offer numerous benefits and efficiencies, they also introduce new vulnerabilities that need to be addressed. As a result, there is a growing need for sophisticated cybersecurity solutions that can preemptively detect and mitigate potential threats in real-time.

The regulatory landscape is also playing a pivotal role in shaping the cybersecurity market. Governments and regulatory bodies worldwide are implementing stringent data protection laws and compliance requirements, such as the General Data Protection Regulation (GDPR) in Europe and the California Consumer Privacy Act (CCPA) in the United States. Organizations must adhere to these regulations to avoid hefty penalties and maintain customer trust, thereby driving the demand for comprehensive cybersecurity solutions and services.

Cognitive Security is emerging as a crucial aspect of the cybersecurity landscape, leveraging artificial intelligence and machine learning to enhance threat detection and response capabilities. By simulating human thought processes in a computerized model, cognitive security systems can analyze large volumes of data to identify potential threats and anomalies. This approach allows for more proactive and adaptive security measures, enabling organizations to stay ahead of increasingly sophisticated cyber threats. As cybercriminals continue to evolve their tactics, cognitive security provides a dynamic defense mechanism that can learn and adapt over time, offering a significant advantage in protecting digital assets.

Regionally, North America dominates the cybercrime and security market due to the presence of leading cybersecurity vendors, a high adoption rate of advanced technologies, and significant investments in cybersecurity by both public and private sectors. Asia Pacific, however, is expected to witness the highest growth rate, driven by the rapid digital transformation in countries like China and India, increasing internet penetration, and a surge in cyber-attacks targeting these regions.

Component Analysis

The cybercrime and security market can be broadly segmented by components into solutions and services. Solutions encompass a range of software and hardware products designed to protect against and mitigate cyber threats. This includes antivirus software, firewalls, intrusion detection systems (IDS), and encryption tools. The solutions segment is expected to hold a significant share of the market due to the increasing need for advanced security tools that can offer comprehensive protection against a wide array of cyber threats.

Within the solutions segment, endpoint security and network security solutions are particularly crucial. Endpoint security focuses on securing individual devices, such as laptops, smartphones, and tablets, which are often the primary targets of cyber-attacks. Network security, on the other hand, aims to protect the integrity, confidentiality, and availability of data as it travels across or within networks. The growing trend of remote work and the proliferation of BYOD (Bring Your Own Device) policies have further underscored the importance of robust endpoint and network security solutions.

The services segment includes managed security services, consulting, and professional services. Managed security services enable organiza

According to Cognitive Market Research, the global Industrial cybersecurity market size will be USD 89241.8 million in 2025. It will expand at a compound annual growth rate (CAGR) of 10.50% from 2025 to 2033.

North America held the major market share for more than 40% of the global revenue with a market size of USD 33019.47 million in 2025 and will grow at a compound annual growth rate (CAGR) of 8.3% from 2025 to 2033.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 25880.12 million.
APAC held a market share of around 23% of the global revenue with a market size of USD 21418.03 million in 2025 and will grow at a compound annual growth rate (CAGR) of 12.5% from 2025 to 2033.
South America has a market share of more than 5% of the global revenue with a market size of USD 3391.19 million in 2025 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2025 to 2033.
Middle East had a market share of around 2% of the global revenue and was estimated at a market size of USD 3569.67 million in 2025 and will grow at a compound annual growth rate (CAGR) of 9.8% from 2025 to 2033.
Africa had a market share of around 1% of the global revenue and was estimated at a market size of USD 1963.32 million in 2025 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2025 to 2033.
The healthcare sector is expected to have the highest CAGR during the forecast period

Market Dynamics of Industrial Cybersecurity Market

Key Drivers for Industrial Cybersecurity Market

The surge in cybercrime cases propels the growth of the industrial cybersecurity market

The increase in the number of cybercrime cases is expected to drive future growth in the industrial cybersecurity market. Cybercrime refers to criminal activities that take place on computers, computer networks, or the internet and have serious consequences, such as financial losses, reputational damage, and legal penalties for criminals. Industrial cybersecurity is used to protect critical infrastructure and manufacturing operations from a variety of cybercrimes. It entails implementing strong security measures, threat detection systems, and incident response strategies to reduce the risks posed by cyber threats. According to the Australian Cybersecurity Centre, an Australian cybersecurity agency, cybercrime reports received in 2022 totaled 76,000, up 13% from the previous year. As a result, the rise in cybercrime cases propels the industrial cybersecurity market forward

https://www.exportfinance.gov.au/resources/world-risk-developments/2023/march/australia-small-businesses-vulnerable-to-rising-cybercrime/

Rising demand for industrial cybersecurity solutions drives market growth and job opportunities

The growing demand for industrial cybersecurity solutions and services is expected to propel the industrial cybersecurity market. Industrial cybersecurity solutions and services are a collection of technologies and services designed to secure every industrial layer while ensuring the operational consistency and continuity of industrial processes. The demand for industrial cybersecurity solutions across industries is increasing, as is the demand for advanced solutions such as firewalls, antivirus, and intrusion detection systems, which will propel the industrial cybersecurity market forward. For instance, the Bureau of Labor Statistics, a government agency based in the United States, predicts that demand for information security analysts will increase by 28% in 2022, creating 2.8k new jobs. Globally, industrial cybersecurity is expected to generate 3.5 million jobs by 2025. As a result, increasing demand for industrial cybersecurity solutions and services is propelling the market forward

Restraint Factor for the Industrial cybersecurity Market

Complexity of Securing Converged IT and OT Networks Limit Market Growth

One of the primary challenges in the Industrial Cybersecurity Market is the complexities of securing converged IT and OT networks. Traditionally, IT and OT systems operated independently, with separate security measures applied to each domain. However, as industries increasingly integrate IT and OT systems to improve operations, ensuring strong security across both environments becomes significantly more difficult. Traditional IT security solutions typically do not address OT systems' unique requirements, such as real-time performance and the need for l...

Police-reported cybercrime, number of incidents and rate per 100,000 population, Canada, provinces, territories, Census Metropolitan Areas and Canadian Forces Military Police, 2014 to 2023.

The Threat Intelligence Platform (TIP) market is experiencing robust growth, projected to reach $8.15 billion in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 12.90% from 2025 to 2033. This expansion is fueled by the escalating sophistication and frequency of cyberattacks targeting businesses across diverse sectors. The increasing reliance on cloud-based infrastructure and the growing volume of data generated by connected devices contribute significantly to this market growth. Key drivers include the rising need for proactive threat detection and response, enhanced security posture management, and the demand for improved incident response capabilities. Furthermore, the adoption of advanced analytics and machine learning within TIP solutions enables organizations to effectively analyze vast datasets, identify patterns, and predict potential threats with greater accuracy. Segmentation reveals a strong demand for cloud-based deployment models owing to their scalability and cost-effectiveness, and significant market share across industries like BFSI, IT & Telecommunications, and Retail, highlighting the pervasive nature of cybersecurity threats. The competitive landscape is characterized by a mix of established players and emerging innovators, including Juniper Networks, AlienVault, Farsight Security, Trend Micro, and others. Market differentiation is achieved through unique technological capabilities, specialized expertise in specific threat vectors, and strategic partnerships. The market is witnessing a shift towards integrated solutions offering comprehensive threat intelligence capabilities, consolidating previously disparate security tools. Geographic analysis indicates strong growth across North America and Asia Pacific, reflecting high technological adoption rates and significant investments in cybersecurity infrastructure. While constraints like high implementation costs and the need for skilled professionals pose challenges, ongoing technological advancements and rising awareness regarding cybersecurity risks will continue to propel market expansion. Continued innovation in areas such as AI-powered threat detection and automated response systems will shape the future of the TIP market. Recent developments include: December 2023 - IBM consulting and Palo Alto Networks has announced expand their strategic partnership to better enable clients to strengthen their end-to-end security postures and navigate evolving security threats. Palo Alto Networks, a global cybersecurity leader, will be in a select group of strategic IBM Consulting partners and IBM Consulting will be a premier security services partner for Palo Alto Networks., August 2023 - CrowdStrike announced another cybersecurity first, with the launch of CrowdStrike Counter Adversary Operations. The new team and offerings bring together CrowdStrike Falcon Intelligence, the CrowdStrike Falcon OverWatch managed threat hunting teams and trillions of the latest telemetry events from the AI-powered CrowdStrike Falcon platform to detect, disrupt in their tracks and ultimately raise their cost of doing business.. Key drivers for this market are: Growing Incidences of Security Breaches and Cyber Crime, Evolution of Next-generation Security Solutions. Potential restraints include: Growing Incidences of Security Breaches and Cyber Crime, Evolution of Next-generation Security Solutions. Notable trends are: BFSI Segment is Expected to Occupy a Significant Share.

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Cyber Security Market Size 2025-2029

The cyber security market size is forecast to increase by USD 164 billion, at a CAGR of 12.5% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing use of mobile devices and the widespread adoption of IoT (Internet of Things) technologies. These trends present both opportunities and challenges for market participants. On the one hand, the growing number of connected devices creates a larger attack surface, necessitating robust cybersecurity solutions. On the other hand, this expansion offers new opportunities for innovation and revenue generation. However, the high cost of deployment remains a substantial challenge for market entrants. Implementing advanced cybersecurity measures can be expensive, particularly for small and medium-sized businesses. Furthermore, the constant evolution of cyber threats necessitates continuous investment in research and development to stay ahead of adversaries. Companies must balance the need for effective security with the financial constraints of their organizations. To capitalize on market opportunities and navigate these challenges, cybersecurity providers must focus on offering affordable, scalable solutions that can adapt to the evolving threat landscape.

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

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleIn the ever-evolving the market, entities such as cloud security, vulnerability scanning, multi-factor authentication (MFA), risk management, security awareness training, incident response, access control, disaster recovery, endpoint protection, data encryption, log management, and others continue to play crucial roles in safeguarding digital assets across various sectors. The market dynamics of this industry remain in a constant state of flux, with emerging threats and evolving attack vectors requiring continuous adaptation and innovation. Cloud security solutions are essential as businesses increasingly migrate their operations to the cloud. Vulnerability scanning tools help identify and address weaknesses in systems, while MFA adds an extra layer of protection against unauthorized access. Risk management strategies ensure organizations are prepared for potential threats, and security awareness training equips employees with the knowledge to avoid common pitfalls. Incident response plans enable swift action when breaches occur, access control policies restrict access to sensitive data, and disaster recovery plans ensure business continuity in the face of disruptions. Endpoint protection shields devices from malware and other threats, while data encryption keeps information secure. Log management and analysis help detect and respond to anomalous behavior, and artificial intelligence (AI) and machine learning (ML) technologies enhance threat intelligence and improve overall security posture. The landscape is further enriched by advanced techniques such as threat modeling, threat hunting, and purple and red teaming, which help organizations proactively identify and address vulnerabilities. Zero-day exploits, man-in-the-middle (MITM) attacks, cross-site scripting (XSS), SQL injection, denial-of-service (DoS) and distributed denial-of-service (DDoS) attacks, social engineering, and penetration testing are just some of the ongoing threats that necessitate the continuous evolution of cyber security solutions. The market is a complex and dynamic ecosystem, where entities such as PCI DSS, cyber insurance, compliance auditing, zero trust security, and threat intelligence play integral roles in maintaining security and ensuring regulatory compliance. The ongoing unfolding of market activities and evolving patterns underscore the importance of staying informed and adaptive in this ever-changing landscape.

How is this Cyber Security Industry 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 AmericaUSCanadaEuropeFranceGermanyItalyUKAPACChinaIndiaJapanSouth AmericaBrazilRest of World (ROW)

By End-user Insights

The government segment is estimated to witness significant growth during the forecast period.The market encompasses various solutions and services, including cloud security, vulnerability scanning, multi-factor authentication, risk management, security awareness training, incident response, access control, disaster recovery, endpoint protection, data encry

In 2024, the monetary damage caused by cybercrime reported to the United States' Internet Crime Complaint Center (IC3) saw a significant year-over-year increase, amounting to a historical peak of **** billion U.S. dollars. Overview of cybercrime in the U.S. Cybercrime continues to be one of the biggest challenges for governments around the world. In the United States, ****************** and ********* were among the most reported categories of cybercrime in 2024, with over ******* individuals falling victim to phishing attacks. Additionally, data breaches cost the U.S. organizations over ************ U.S. dollars on average as of February 2024. Fraud involving elderly Along with other reported internet crimes, online fraud is continuously growing. Targeting one of the most vulnerable groups, the elderly, cybercriminals show notorious skills in ************************************************************. Furthermore, individuals aged 60 and older, reported falling victims of extortion and personal data breach in 2024.