Cyber Security Market Size and Share to Surpass US$ 478.68 Billion by 2030, Exhibiting a CAGR of 9.5%

WILMINGTON, DE, UNITED STATES, April 16, 2024 /EINPresswire.com/ -- According to the report, the global cyber security market size generated $197.36 billion in 2020, and is anticipated to generate $478.68 billion by 2030, witnessing a CAGR of 9.5% from 2021 to 2030.

Global Cyber Security Market by Component (Solution, Services), by Solution (Identity Access Management, Infrastructure Security, Governance, Risk & Compliance, Unified Vulnerability Management Service Offering, Data Security & Privacy Service Offering, Others), by Deployment Model (On-Premise, Cloud), by Enterprise Size (Large Enterprise, SMEs), by Industry Vertical (Telecom, Automotive, BFSI, Public Sector, Retail, Healthcare, IT, Energy & Utilities, Manufacturing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030”.

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The software industry is the major consumer of cybersecurity solutions. In the present corporate environment, both developed and emerging areas have seen an increase in the usage of this technology. In order to provide unique and contemporary security products to clients, businesses use effective strategies. Increased awareness among enterprises of all kinds when it comes to securing their information as well as an increase in ransom-ware assaults among small businesses, charities, and government agencies, are developing trends in the cybersecurity sector. As a result, every firm is increasing their expenditure in order to preserve their sensitive and critical data.

Key Industry Development -

December 2021 - Accenture collaborated with Generali and Vodafone Business to introduce a new integrated insurance platform which offers cyber risk management and incident response services to corporate and small-andmedium-sized enterprise.
April 2021 - Accenture announced to acquire Openminded, a France-based cybersecurity services company that provides advisory, cloud & infrastructure security, cyber defense, and managed security services.

January 2021 - Accenture acquired Real Protect, a privately held Brazil based provider of managed security and cyber defense services. This acquisition helps in extending its cybersecurity presence and capabilities in Latin America.

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April 2021 - Accenture completely acquired Symantec Cyber Security Services business from Broadcom Inc. This acquisition helped to enhance Accenture Security’s position as one of the world’s leading providers of managed security services, further boosting its ability to help organizations anticipate, detect and respond to cyber threats.

February 2021 - Cognizant completed the acquisition of Magenic Technologies, Broadening Its Global Software Product Engineering Network. The acquisition expands Cognizant’s software product engineering footprint, adding 475 employees in the U.S. across seven locations, and more than 350 employees in Manila, Philippines.

January 2021 - Cognizant announced to acquire Servian, a Sydney, Australia-based, privately-held enterprise transformation consultancy. This acquisition helped to expands Cognizant's integrated, end-to-end digital transformation capabilities in Australia and New Zealand (ANZ) to help clients move to the cloud, build digital products and services, unlock value from data, modernize enterprise applications, and achieve operational excellence.

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Leading Market Players: -

Accenture Inc.

Broadcom

Capgemini

Cognizant

FS, Inc.

Fireeye

HCL Technologies Ltd.

IBM Corporation

Infosys Limited

L&T Technologies Services Ltd.

PwC

Tata Consultancy Services Limited

Tech Mahindra Limited

Wipro Limited

The report provides a detailed analysis of these key players of the global cyber security market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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