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.

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.

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.

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 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.

The Cyber Security Market size is expected to reach a valuation of USD 655.8 billion in 2033 growing at a CAGR of 12.60%. The Cyber Security Market research report classifies Market by share, trend, demand, forecast and based on segmentation.

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.

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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The cyber security market in North America has the potential to grow by USD 66.66 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 15.54%.

This cyber security market in North America research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by deployment (on-premise and cloud) and geography (the US, Canada, and Mexico). The cyber security market in North America report also offers information on several market vendors, including AO Kaspersky Lab, Booz Allen Hamilton Holding Corp., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Corporation Service Co., Fortinet Inc., General Dynamics Corp., McAfee LLC, and Northrop Grumman Corp. among others.

What will the Cyber Security Market Size in North America be in 2021?

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Cyber Security Market in North America: Key Drivers and Trends

The increase in the use of mobile devices is notably driving the cyber security market growth in North America, although factors such as high cost of deployment may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the cyber security market in North America industry get your FREE report sample now.

      With the increasing adoption of mobile devices, such as mobile phones, laptops, and tablets, the need for cybersecurity solutions is rising.
      One of the major reasons for the rising need for cybersecurity solutions is the increasing use of devices such as mobile phones and laptops to access the Internet, which is increasing the chances of cybercrimes. 
      The use of mobile devices for personal and professional use is increasing the access to critical data and information, which will increase the chance of unauthorized access in case of a stolen mobile device.
      With technological advances, the acceptance of mobile devices for m-commerce, bill payment, and GPS is also increasing.
      The confidential information accessed by mobile devices requires high-level security against hacking.




      Implementing firewalls as a disruptive deception capability is another key driver influencing the cyber security market growth in North America.
      Advancements in technology have led to the introduction of firewalls with advanced capabilities such as intrusion prevention, blacklists, reputation feeds, and URL filtering. 
      The implementation of a firewall helps end-users to leverage threat detection and provide an enhanced opportunity to secure the network. 
      The implementation of a firewall further results in the generation of deception responses that further allows deception technology providers to offer deception hosts designed specifically to be attacked. 

This cyber security market in North America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Cyber Security Market Vendors in North America?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

AO Kaspersky Lab
Booz Allen Hamilton Holding Corp.
Broadcom Inc.
Check Point Software Technologies Ltd.
Cisco Systems Inc.
Corporation Service Co.
Fortinet Inc.
General Dynamics Corp.
McAfee LLC
Northrop Grumman Corp.

The cyber security market in North America is fragmented and the vendors are deploying growth strategies such as investing in R&D and branding to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the cyber security market in North America forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Cyber Security Market in North America?

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72% of the market’s growth will originate from US during the forecast period. The US is the key market for cyber security in North America. Market growth in this region will be faster than the growth of the market in Canada and Mexico.

The expanding IT, healthcare, BFS

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

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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

Industrial Cybersecurity Market size was valued at USD 29,404.76 Million in 2024 and is projected to reach USD 38083.3 Million by 2032, growing at a CAGR of 4.89% from 2026 to 2032.The threat landscape in the Industrial Cybersecurity Market has evolved dramatically as industrial systems have become more digital and connected. Furthermore, the Industrial Cybersecurity Market is being fueled primarily by the growing use of Internet of Things (IoT) solutions in industrial control systems and cloud security applications. The increased adoption of emerging technologies such as 5G networks, big data, and artificial intelligence (AI) across industries will further help to drive market expansion. Increased need for advanced solutions such as firewalls, antivirus, intrusion detection systems (IDS), and others will help to drive up demand for cybersecurity solutions across industries. Furthermore, increased investment by major actors in developing and implementing advanced industrial cybersecurity solutions, as well as an increase in cyber threats, are expected to drive the Industrial Cybersecurity Market growth. Broadcom Inc., CyberArk Software Ltd., Schneider Electric SE., and others have made significant investments in developing advanced and innovative solutions for industries.

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 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.

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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 witnessing significant growth, driven by the increasing use of mobile devices and the adoption of the Internet of Things (IoT) technology. These trends are expanding the attack surface for cybercriminals, necessitating robust security solutions. However, the high cost of deployment remains a formidable challenge for market growth. Despite this, opportunities abound for companies specializing in advanced threat protection, network security, and endpoint security. As the digital landscape evolves, organizations must invest in cybersecurity to safeguard their critical assets and maintain customer trust.
The integration of artificial intelligence and machine learning into cybersecurity solutions is a promising development, offering enhanced threat detection and response capabilities. Companies focusing on these innovative technologies are well-positioned to capitalize on the market's potential and navigate the challenges effectively.

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

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The cybersecurity market continues to evolve, with dynamic market activities shaping the industry's landscape. Artificial intelligence (AI) is increasingly integrated into security solutions, enhancing threat detection and response capabilities. Security awareness training remains a crucial component, mitigating risks from social engineering attacks. Secure web gateways safeguard against web-based threats, while red teaming simulates attacks to identify vulnerabilities. Security operations and monitoring provide real-time threat intelligence, enabling swift response to zero-day exploits and data breaches. Threat modeling and risk assessment are essential for proactive security strategies, addressing potential vulnerabilities in applications and infrastructure. Supply chain attacks pose significant risks, necessitating robust security measures throughout the supply chain.

Log analysis and security auditing are crucial for maintaining regulatory compliance and ensuring the integrity of data. Cybersecurity insurance and cloud security are growing areas of focus, with organizations seeking to mitigate risks in the cloud environment. Endpoint security and machine learning are integral to securing the perimeter and detecting advanced threats. Security orchestration streamlines security operations, enabling efficient response to threats. Network security and vulnerability management are ongoing priorities, with the threat landscape continually evolving. Anomaly detection and behavioral analytics offer valuable insights into potential threats, complementing traditional security measures. Denial-of-service (DoS) attacks and biometric authentication are among the various challenges shaping the cybersecurity market.

Threat intelligence and security automation are essential tools for staying ahead of emerging threats. The cybersecurity landscape is ever-changing, requiring continuous adaptation and innovation.

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-user

  Government
  BFSI
  ICT
  Manufacturing
  Others


Deployment

  On-premises
  Cloud-based


Product

  Solution
  Services


Sector

  Large enterprises
  SMEs


Type

  Cloud
  End-point and IOT
  Network
  Application


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  Middle East and Africe 

    UAE


  Rest 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 penetration testing, password management, wireless security, incident response, serverless security, zero trust, multi-factor authentication, secure coding practices, anomaly detection, behavioral analytics, network security, vulnerability management, security analytics, and more. In 2024, the government sector holds the largest market share, driven by the surge in security installations in developed and developing countries, as well as the significant contributions from homeland security and defense sectors. The increasing need for data security and confidentiality further propels market growth.

Notably, many governments worldwide have dedicated cybe

The industrial cybersecurity market is expected to expand its roots at a steady CAGR of 7.8% during the forecast period. The market is likely to hold a revenue of US$ 22.36 billion in 2023 while it is anticipated to cross a value of US$ 46.96 billion by 2033.

Attributes	Details
Industrial Cybersecurity Market CAGR (2023 to 2033)	7.8%
Industrial Cybersecurity Market Size (2023)	US$ 22.36 billion
Industrial Cybersecurity Market Size (2033)	US$ 46.96 billion

Country-wise Insights

Countries	Revenue Share % (2022)
United States	18.5%
Germany	9.3%
Japan	5.7%
Australia	2.9%
North America	27.4%
Europe	23.1%

Countries	CAGR % (2023 to 2033)
China	9.3%
India	9.5%
United Kingdom	7.8%

Category-wise Landscape

Category	By Component
Leading Segment	Hardware
Market Share (2023)	46.1%

Category	By End-use Industry
Leading Segment	Discrete
Market Share (2023)	54.6%

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.

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.