Cybersecurity

• [New] By providing data privacy transparency and strengthening cybersecurity, businesses will be able to block future threats and look forward to nothing but secure operations through 2021.
• [New] The demand for cybersecurity jobs will increase manifold and result in 3.5 million unfilled positions by 2021.
• The information security market in India is expected to grow at a rate of 8.5% and 12.1% in 2020 and 2021 respectively, compared to the global growth of 6.6% and 9.2%.
• Cybersecurity in 2020 will greatly affect the global economy, businesses, governments, consumers, and the common man.
• The global cybersecurity market, which was valued at $156.6 billion last year, could grow at a compound annual growth rate of 10% between 2020 and 2027.
• Worldwide spending on information security is on the rise each year, with products and services exceeding $114 billion in 2018, while it is forecasted to grow to $170.4 billion in 2022.
• Global spending on cybersecurity products and services for defending against cybercrime is projected to exceed $1 trillion cumulatively over the five-year period from 2017 to 2021.
• Worldwide spending on cybersecurity is forecast to grow from 2017 to 2020, increasing from 34 billion U.S. dollars in 2017 to 42 billion in 2020.
• The cybersecurity market was valued at USD 119.61 billion in 2018 and is expected to reach USD 261.07 billion by 2024, at a CAGR of 14.15% during the forecast period (2019-2024).
• The global railway cybersecurity market is expected to to increase from USD 6.0 billion in 2019 to reach USD 12.6 billion by 2025 at a CAGR of 9.8%.
• The coronavirus pandemic has been predicted to boost the value of the cybersecurity market in the Middle East so much that it will be worth $29bn by 2025.
• The global automotive cybersecurity market is poised to grow by $241.41 million during 2020-2024, progressing at a CAGR of 17% during the forecast period.
• Global spending on cybersecurity will exceed $1 trillion for the period between 2017 and 2021.
• Cyberattacks are at an all-time high, with IDC predicting global spending on cybersecurity to reach $133.8 billion in 2022.
• The cybersecurity market is growing even in the midst of the pandemic-driven economic downturn, with spending predicted to reach $123 billion by the end of the year.
• While cybersecurity spending grew at a Compound Annual Growth Rate of 12% in 2018, Gartner's latest projections are predicting a decline to only 7% CAGR through 2023.
• Governance, risk measurement, and policy compliance, cybersecurity is a growing industry estimated to be worth over $300 B by 2025.
• Worldwide spending on cybersecurity is predicted to top $1 trillion in 2021, which is great news for security vendors, but as spending on security grows, the number of successful breaches is also likely to grow, which is not great news for businesses.
• Cloud Security is the smallest, fastest-growing cybersecurity market segment with market size of $439M last year, projected to grow 33% in 2020.
• The Middle East and Africa's Internet of Things cybersecurity market is set to top US$ 3.2 billion by 2025, posting four-fold growth from 2015.
• The cybersecurity market reached $156.5 billion last year across hardware, software, and services, and is expected to grow at a 10% annual rate through 2027.
• Spending on cybersecurity solutions has risen in 2020 and will continue to do so until the end of the year.

Last updated: 17 January 2021