According to the research report titled ‘Global Cyber Security Market (2022 Edition) - Analysis By Security (Wireless, Application, Network, End Point, Infrastructure Protection, Others), Deployment, End User, By Region, By Country Market Insights and Forecast with Impact of COVID-19 (2021-2026), available with MarketStudyReport, global cyber security market was worth USD 171.05 billion in 2020 and is anticipated to garner notable returns by the year 2026.

As per report findings, global cyber security market growth is attributed majorly to rising number of cybercrimes in a variety of businesses.

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For the unversed, malware is frequently used by cyber criminals to seize control of devices or machines to make a profit. Malware, such as viruses and Trojans, has expanded its ability to enter, manipulate, and harm entire electronic information networks.

Furthermore, growing focus among enterprises to strengthen the security of data and networks is augmenting the industry trends.

Notably, growing number of malware attacks on enterprises' databases during the COVID-19 pandemic has led to strict security protocols, which in turn has bolstered the market growth in the recent past.

Based on security, the wireless security segment is expected to grow at a constant pace throughout the forecast duration, as this solution assists in detecting, alerting, and preventing wireless networks, while sending an alarm to the network administrator during a security breach.

On the basis of end-user scope, government & defence segment held 25.7% industry share in 2020. Whereas the BFSI segment is slated to progress with a strong CAGR during the forecast period.

Regionally speaking, North America market accounted for a major revenue share in 2020. Meanwhile, Asia Pacific industry is poised to grow significantly during the forecast duration, due to emergence of IoT devices, and government programmes aimed at technological advances, as well as introduction of new cyber security solutions in countries like China and Japan.

Considering the competitive landscape, Broadcom Inc., F5 Inc., Palo Alto Networks Inc., Hewlett Packard Enterprise Company, Juniper Networks Inc., FireEye Inc., Check Point Software Technologies Ltd., Fortinet, NortonLifeLock Inc., and Cisco Systems Inc. are the leading players influencing the global cyber security market trends.