This market research study presents a detailed segmentation of the global digital security market by solutions (threat intelligence and analytics, endpoint security, content security gateways, cloud security, e-mail encryption, and M2M network security) and by geography (APAC, Europe, MEA, North Americas, and South America). The key vendors in the market are Cisco Systems, Gemalto, McAfee, Symantec, and Trend Micro.
Technavio’s market research analysts estimate the global digital security market to grow at a CAGR of around 11% between 2016 and 2020. Digital security solutions are gaining momentum among large enterprises, government organizations, and SMBs because they protect critical information from unauthorized access and security attack. The growing need for maintaining data confidentiality among organizations will boost the market for digital security over the next four years. North America is the biggest revenue-generating region in the global digital security market, accounting for 43% of the overall market share. Much of this market’s growth comes from the presence of many large organizations and global financial institutions and increasing incidences of cyber-attacks and malware in the region.
The new market research report from Technavio provides a breakdown and analysis of the digital security segments by technology.
“The market is expected to witness increased implementation of digital security in the retail sector. With advances in technology, retail point-of-sales transactions are being targeted the most by cyber criminals and hackers. This has led to concerns in this sector about the security of their customers’ personal information while making online payments or transactions. Digital security solutions are also employed in the retail sector for managing data related to the supply chain and customer relationship management,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research
Currently, the threat intelligence and analytics segment leads the market, occupying more than 42% of the market share. The increasing number of cyber-attacks in the last few years is expected to drive the growth of this market segment. Moreover, the increase in the use of desktops, laptops, and printers in organizations has exposed them to more incidences of hacking and insider threat, thereby leading to the increasing adoption of threat intelligence and analytics solutions among organizations.
The key vendors in the global digital security market include Cisco Systems, Gemalto, McAfee, Symantec, and Trend Micro. The market is highly competitive and is characterized by the presence of well-established international and regional players. As international players are increasing their foothold in the market, regional vendors are finding it difficult to compete with them. The competition is expected to intensify with vendors adopting new technologies and an increasing number of M&A transactions.
A more detailed analysis is available in the Technavio report, Global Digital Security Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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