March 02, 2020
According to the research report titled ‘North America Cybersecurity Market Size By Organization, Product Type, Industry, Industry Analysis Report, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 - 2025’ available with Market Study Report LLC, North America cybersecurity market is expected to cross USD 118 billion by the year 2025.
According to the report, North America cybersecurity market is expected to witness substantial growth owing to the marked rise in demand for network security solutions for protecting IoT-enabled devices. Extensive adoption of IoT-enabled devices and rising trend of Bring-Your-Own-Device (BYOD) in business enterprises are bolstering the demand for cybersecurity solutions, hence augmenting market outlook. A 2019 report published by Symantec states that in 2018, the U.S. ranked second in terms of IoT-related cyber-attacks with more than 11% of the global attacks stemming from the country.
The report suggests that North America cybersecurity industry from infrastructure protection segment is projected to register a 10% CAGR over 2019-2025. These solutions protect enterprises from infrastructure downtimes and intrusions by defending critical IT infrastructure of businesses from malicious attacks. The segmental growth will also stem from the escalating trend of BYOD, which will intensify the adoption of infrastructure protection tools to protect devices containing sensitive enterprise data.
Furthermore, the market share from manufacturing sector is likely to witness a 5% CAGR through 2025. The massive adoption of digital business management tools, including Enterprise Resource Planning (ERP) and the advent of Industry 4.0 have raised the sensitivity of manufacturing enterprises to cyberattacks. The manufacturing giants are incorporating cybersecurity solutions to decrease losses and avert disruption in their production facilities, which in turn is favoring North America cybersecurity industry.
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Several eminent companies in North America cybersecurity market include Check Point Software, BAE Systems, Cisco Systems, Inc., F-Secure Corporation, CyberArk Software Ltd., F5networks, Inc., Fortinet, Inc., FireEye, Inc., Hewlett-Packard, Ltd., Intel Corporation, McAfee LLC, and IBM Corporation. Some other market majors are Oracle Corporation, Microsoft Corporation, Palo Alto Networks, Inc., Trend Micro, Inc., Rapid7, Proofpoint, Inc., RSA Security LLC, Splunk, Inc., Sophos Group plc, and Symantec Corporation.
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