IT & Telecom Cyber Security Market to Grow with a CAGR of 8.74% Globally through to 2028

IT & Telecom Cyber Security market is increasing due increasing due to the rising cyber threats caused by growing digital transformation and connectivity of devices/networks in the forecast period, 2024-2028.

According to TechSci Research report, “Global IT & Telecom Cyber Security Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028 Global IT & Telecom Cyber Security market has witnessed tremendous growth in recent years, reaching a valuation of USD 198.38 billion in 2022. The market is projected to continue its strong upward trajectory, posting a CAGR of 8.74% from 2024 to 2028. The global IT & telecom cyber security market is experiencing significant growth driven by increasing adoption among enterprises. Organizations recognize the strategic importance of cyber security solutions in protecting their networks, systems, data and intellectual property from ever-evolving cyber threats. Companies are making strategic investments in advanced cyber security technologies to develop robust security postures and optimize security operations. Advancements in areas such as AI, ML, cloud security and IoT security have strengthened organizations' abilities to detect, prevent and respond to cyber attacks in real-time. As a result, enterprises are rapidly adopting next-generation cyber security solutions to gain a competitive edge through proactive threat hunting and enhanced visibility. Adoption is also fueled by evolving corporate strategies that focus on leveraging cutting-edge security technologies and services. Businesses now understand the value provided by solutions spanning identity and access management, network security, endpoint protection and more. This shift is driving rising demand from enterprises looking to integrate holistic security measures.

Continued innovation is also propelling market growth. Improvements in cloud-delivered security platforms, big data analytics for threats and programming frameworks have enhanced cyber security capabilities. Companies can develop customized, data-driven and adaptive security postures tailored for their industry's needs. As businesses continue discovering new potential uses and benefits of cyber security, the long-term outlook for sustained robust market expansion remains positive. Cyber security solutions have become critical enablers of digital transformation and risk mitigation strategies globally. The market is poised for strong growth as adoption accelerates across industries.

Browse over 26 market data Figures spread through 91 Pages and an in-depth TOC on "Global IT & Telecom Cyber Security Market.”

By deployment mode, the market is bifurcated into on-premises and cloud-based solutions. The on-premises segment currently dominates due to high customization requirements and data sovereignty concerns among enterprises. However, the cloud-based segment is projected to witness fastest growth during the forecast period driven by scalability, low costs and centralized management benefits of cloud security offerings.

In terms of security solution, the market covers network security, endpoint security, cloud security and application security. Among these, the network security segment accounted for the largest share in 2022 owing to the criticality of networks and increasing network traffic volumes. Application security is anticipated to exhibit lucrative growth over the coming years.

Based on end-user industry, the market caters to telecom service providers, e-commerce, enterprises, utilities, government & defense and others. Enterprises emerged as the key end-user segment due to rising cyber attacks on businesses. Meanwhile, the telecom service providers segment is expected to register strong growth on account of security needs of 5G infrastructure and mobile networks.

Regionally, North America dominated the global cyber security market landscape in 2022. However, Asia Pacific is set to witness the fastest CAGR during the forecast period with strong government initiatives and the region's growing digitalization.

Major companies operating in Global IT & Telecom Cyber Security Market are:

• Cisco Systems
• IBM CORPORATION.
• Symantec
• Trend Micro
• FireEye
• Check Point Software Technologies
• Juniper Networks
• Sophos
• Rapid7
• Micro Focus International

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“Global IT & Telecom Cyber Security market is poised for strong growth driven by advancing technologies and widespread enterprise adoption. Breakthroughs in areas such as artificial intelligence, cloud computing, big data analytics and Internet of Things have augmented the capabilities of cyber security solutions. These platforms can now generate predictive insights, detect complex patterns of attacks and offer personalized recommendations to support diverse business needs at scale.

Organizations are recognizing cyber security solutions as strategic enablers that can transform beyond being supplementary technologies. Software is becoming integral to strategic planning, risk management and decision making processes. By collecting and analyzing large datasets, security platforms powered by advanced analytics allow enterprises to deeply customize threat detection, identity management and experiences. This level of customized protection is revolutionizing how businesses secure their IT infrastructure, applications and data assets. Adoption of cyber security solutions is no longer limited to just large corporations. Even small and medium enterprises are investing in these platforms to strengthen security posture and compliance. Vendors continue to innovate through R&D to address the evolving needs of diverse sectors and industries. Regulatory authorities are developing frameworks around data protection, privacy and ethics to ensure standards are upheld, fostering healthy competition and allowing innovation to thrive.Driven by ongoing technological advances, growing acceptance of data-driven security strategies, and a strong focus on continuous innovation, the global IT & telecom cyber security market is well-positioned for sustained expansion. As AI and analytics become core capabilities, solutions are cementing their role as indispensable tools to transform digital experiences and optimize risk management across all enterprise sizes and industries. The future outlook for the cyber security industry remains very promising..” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“IT & Telecom Cyber Security Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Deployment Modes (On-Premises, Cloud-Based) By Security Solution (Network Security, Endpoint Security, Cloud Security, Application Security), By End-User Industry (Telecom Service Providers, E-commerce, Enterprises, Utilities, Government and Defense, Others), By Region, By Competition”, has evaluated the future growth potential of Global IT & Telecom Cyber Security Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global IT & Telecom Cyber Security Market.

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