The size of enterprise cybersecurity spending will exceed $226 billion in 2027 as compared with $179 billion in 2022, Juniper Research said.
This growth of 26 percent over the next 5 years reflects the increasing maturity of the cybersecurity market, which continues to evolve as new threats emerge. The report identified a rising awareness of vulnerabilities, alongside emerging threats, including ransomware and DDoS (Distributed Denial of Service) as key drivers behind the increasing spend.
Juniper Research’s Competitor Leaderboard for the cybersecurity market has identified the 5 leading market vendors as follows:
“Cloud computing has been transformative for businesses, so it is no surprise that two of the biggest cloud computing vendors, AWS and IBM, also lead in the cybersecurity space. AWS and IBM are capitalising on their existing large user bases; acquiring businesses and capabilities as needed to enhance their product offerings,” Research co-author Damla Sat said.