Growing demand for advanced network infrastructure security in enterprises to foster cybersecurity market by 2026

The rising demand for cyber protection as well as advanced network infrastructure security across enterprises is set to drive cybersecurity market in the forthcoming timeframe. The need to safeguard financial transactions and highly sensitive data from vulnerabilities and unauthenticated access is supporting the market growth.

Furthermore, rising internet penetration and technological advancement are leading the enterprises to move to cloud-based business models. The established enterprises are investing majorly in cyber security solutions since widespread digitization throughout enterprises is prone to information breach and cyber threats.

The organizations are also establishing infrastructure and network security solutions which includes internet protocols and firewalls. This further allows them to prevent possible monetary as well as non-monetary losses like data storage devices and interconnected servers.

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According to research report by Global Market Insights, Inc., cybersecurity market is likely to surpass $400 billion by 2026.

The absence of infrastructure resources as well as technology skill might create some concerns for some of the corporates. Large organizations, aside from a couple of SMEs, have committed IT divisions with dedicated equipment and solutions for deploying over their network infrastructure. Moreover, the SMEs are dealing with budget concerns, which in turn are affecting the adoption of security solutions. But cost-effective security solutions and constant development is likely to fuel the enterprises to adopt security solutions.

The demand for products related to infrastructure protection is anticipated to grow substantially through 2020-2026. Several organizations are adopting the BYOD work practice at a larger level in order to boost the business productivity and to provide flexibility to the employees. They are also adopting endpoint protection in order to stop any unauthenticated access and vulnerabilities to enterprise data resources by mobile devices. Subsequently, owing to huge penetration of cloud services, enterprises are further adopting cloud security solutions.

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Since the cloud business infrastructure is vulnerable to cyber risks, cloud security solutions allows the company to maintain efficient network operations by following set rules. They tend to manage the total network security and also prevents unauthenticated alterations over network.

The adoption of cybersecurity solutions across SMEs is likely to grow over 15% CAGR through 2020-2026. The increasing number of cyber-attacks over small & medium enterprises along with rising monetary losses have further led to increasing adoption of cutting-edge security solutions.

Furthermore, these enterprises have also embraced the BYOD guidelines to lessen the capital expenditure as well as enhance the productivities of employees. They are also making substantial investments in advanced security solution in order to secure their data, majorly because they are prone to data breaches and cyber threats.

Cybersecurity products & services demand is increasing in the IT and Telecommunication organizations owing to the demand for protecting of personal sensitive data. The companies are adopting security solutions in efforts to protect their virtual information systems, servers, and data centers. This further helps them to alleviate cyber risks and also sense vulnerabilities at an early stage, thereby protecting from live attacks. In addition to this, the introduction of strict regulations from government authorities is impelling the market growth.

The Europe Cybersecurity market is likely to grow at a CAGR of over 15% by the end of the forecast timespan. Several enterprises functioning in banking sectors are increasingly adopting technologically advanced cybersecurity solutions. The private corporates and government enterprises have registered increasing number of cyberattacks. Additionally, private corporates and government authorities are also making collective efforts to stop such vulnerabilities.

Citing an instance, European Central Bank collaborated with the members of Euro Cyber Resilience Board. The two together introduced the Cyber Information and Intelligence Sharing initiative, which focuses on detecting and preventing cyberattacks as well as enhancing the cybersecurity throughout financial institutions.

Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, Amazon Web Services, and Nokia Networks among others are the key players operating in the cybersecurity market.

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