The market for cyber security is projected to grow to $205.81 billion by 2025 from $76.4 billion in 2016, reflecting a CAGR of 12 percent, according to Persistence Market Research.
Growth drives are application of cloud-based services in multiple workloads including data backups, Email services, ERP, CRM, and collaboration services.
ALSO READ: Cyber security market report
Several corporates are shifting towards the adoption of cyber security solutions to secure their workloads on the cloud. Investment in digitization are creating cyber threats, forcing global enterprises to opt for cyber security solutions to tackle hacking and cybercrimes.
The cyber security market in North America will be $67.14 billion. Cyber security market in Asia Pacific will witness the highest growth rate. Cyber security market in the Middle East & Africa region is expected to witness an impressive growth rate.
IBM, Microsoft, Intel, Secureworks, Symantec, Check Point Software Technologies and Trend Micro are some of the technology companies with expertise in cyber security solutions.
