28 May 2021
Visiongain has published a new report on Top 100 Cyber Security Companies: Ones to Watch in 2021: Profiles of Top 100 Leading Cybersecurity Companies and Forecasts PLUS Global and Regional Market Analysis.
Global Cybersecurity Market was valued at US$ xx billion in 2021 and is projected to reach at a market value of US$ xx billion by 2031, with a CAGR of xx%.
Are you in the global race? Where do you stand in the cut throat global competition?
Fierce competition, stringent regulations, diminishing research and development, shrinking margins, strong price pressures and patent cliffs encompass today’s IT industry. It is a well-known fact that future of the cybersecurity industry depends on innovation, and innovation comes from collaborations or partnerships.
Cybersecurity Companies are Focused on Strategic Merger and Acquisitions intended to Gain Competitive Edge
The cybersecurity market is highly fragmented with several private and public players which makes the market competitive in nature. The companies operating in global market are focused on M&A activities. 2021 is anticipated to be an active year for merger and acquisitions in cybersecurity sector. In March 2021, around 40 acquisitions were registered globally. This can be attributed to significant growth in sectors including cloud security, identity management, DevSecOps, managed security services, and zero trust. In September 2020, Uprite Service saga announced their merger with CRSA Technologies which was intended to provide complete range of IT services to SMES. The services include cybersecurity, work from home business solutions, etc. Furthermore, in April 2021, Accenture announced that they are planning to acquire France based cybersecurity organization Openminded. As a part of this acquisition, 100 skilled cybersecurity professionals will be added in Accenture's existing 7,000 strong workforce.
Cybersecurity Funding and Investment is Anticipated to Continue in Forthcoming Years
With rapid increase in cyberattacks and threats, companies are more focused on cybersecurity portfolio. Also, significant funding and investment has been observed since last few years which is likely to positively influence the company’s growth. For instance, Dell technologies anticipates that in 2021 more than 42% of organizations globally will invest in cybersecurity and privacy solutions. Moreover, in March 2021, Axonius raised funding of US$ 100 million in Series D funding to strengthen its asset management platform capabilities. The round was led by Stripes and Lightspeed with participation from existing investors Vertex, OpenView, and Bessemer Venture Partners (BVP).
Increasing investment in advanced cybersecurity among large enterprises solutions
Increasing investment in advanced cybersecurity among large enterprises solutions is augmenting the cybersecurity market growth. Different industry verticals are transforming their equipment with the digital machines. These digital equipment are generally data driven and tend to work as per their programming. The cybercriminals attack these systems and encrypt the operations of the machines and demand for high ransom to provide the encryption key. These factors are thriving the demand for cybersecurity solutions. Moreover, the integration of IoT and blockchain technology is prone to the attacks and will continue to disturb the operational equilibrium of the organizations.
Increasing cyber blackmailing and trading of personal and professional data is fuelling the demand for cybersecurity solutions. The cyber criminals are hacking into the personal systems of individuals and black mail them to pay them the amount they demand. These attackers are hacking the systems of high profiled business people and their employees to gain access to the company’s security system and then gain access to the organization’s data. Such fraudulent activities are augmenting the demand for cybersecurity solutions further driving the market growth. Furthermore, the companies are scanning their employees' systems every now and then to get rid of any bugs or unknown entities using cybersecurity solutions.
COVID-19 Impact on Global Cybersecurity Market
The global pandemic has forced different industry verticals to operate remotely. The employees are working from home and are using servers and routers with least protection which are accounted for higher cyber risk. Moreover, the education sector is highly dependent on the internet facility for online classes. Likewise, the healthcare sector is generating huge amounts of personal and financial data that are likely to be one of the major targets for cyber criminals. Such factors are supporting the demand for cybersecurity solutions and services. Adoption of the new solutions by the large organizations is thriving the demand for advanced cybersecurity technologies.
Rising number of cyber frauds and cyber attacks
Rising number of cyber frauds and cyber-attacks is driving the cybersecurity market. According to the Federal Trade Commission, 4.8 million identity theft and fraudulent cases were reported in 2020 that was 45% more than that of 2019 which recorded 3.3 million cyber fraud cases. Over the years identity theft complaints have surged while fraud complaints topped the position of cyberattacks. Moreover, medium and small sized companies are more prone to cyberattacks owing to their limited technical infrastructure and minimal cybersecurity investment. However, in the last five years medium sized companies have increased their security investment further driving the market demand. Cybercrime is expected to cost companies USD 10.5 trillion by 2025.
The emergence of AI integrated cybersecurity solutions is creating new opportunities for the industry players. The companies are offering AI integrated cybersecurity solutions to get real time status of the firewall breach and then can respond to the attack in no time. Companies such as Versive, Logrhythm, Cybereason, SparkCognition and Cylance amongst others are offering AI based cybersecurity solutions for their customers. These companies separately track the normal and threat activity. For instance, Versive Security Engine (VSE), an artificial intelligence cybersecurity engine of Versive segregates critical risks from routine network activity that aid security teams to act in the threat immediately. Furthermore, such advanced solutions track the accounts, emails and other outsourced documents immediately and then notify the security teams if any malicious activity is observed.
Competitive Profiled in the Report
Top 12 Cybersecurity Companies
Juniper Networks Inc.
Palo Alto Networks Inc
Sophos Group Plc
Mid-Range Innovating Cyber Security Companies to Watch
Check Point Software Technologies
Hitachi Systems Security
Ingram Micro Inc
Leidos Holding Inc
Lockheed Martin Corporation
ManTech International Corporation
Micro Focus International Plc
NCC Group Plc
Optiv Security Inc
Raytheon Intelligence and Space
Sierra Nevada Corporation
Threat Quotient Inc
Verizon Communications Inc
WatchGuard Technologies Inc
Waterfall Security Solutions
Notable Cyber Security Companies to Watch
Deep Root Analtics
High Tech Bridge
Vencore Holding Corporation
Notes for Editors
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