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Market SynopsisThe Global Proactive Security Market is Expected to Register a CAGR of 16.4% During The Forecast Period to Reach USD 43.4 billion by 2024.
Small- and medium-sized as well as large enterprises are heavily investing to prevent instances of cyberattacks and data breaches before they happen. Similarly, managed service providers are also focussing on proactively safeguarding data instead of troubleshooting the issues later. The rising adoption of IoT, smart mobile devices and trends like BYOD has increased the number of connected devices in enterprises which gives rise to the need for having a proactive security system in place. A higher number of connected devices leads to vulnerabilities in the IT infrastructure. A large number of enterprises are thus opting for proactive security solutions over reactive security solutions. The increasing number, as well as variety of cyberattacks, has urged the companies to implement proactive security solutions. Also, the rising need to comply with stringent data protection regulations is another factor contributing to market growth. However, the budgetary constraints to deploy proactive cybersecurity solutions are expected to limit market growth during the forecast period. Growing adoption of cloud-based solutions across verticals and the increasing trend of digital transformation of enterprises offer lucrative opportunities to the key providers of proactive security in the global market. The market faces challenge of a limited number of skilled cybersecurity professionals.
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Key Players
The key players in the global proactive security market are IBM Corporation (US), Corvil (Ireland), Altran (France), Cisco Systems Inc. (US), Palo Alto Networks, Inc. (US), Securonix, Inc. (US), LogRhythm, Inc. (Netherlands), Rapid7 ( US), Symantec Corporation (US), FireEye, Inc. (US), McAfee, LLC (US), CyArx Technologies LTD (US), Oracle Corporation (US), AT&T (US), and FUJITSU (Japan). The key strategies adopted by most of the players are partnerships, agreements, collaborations, and the launch of solutions.
Regional Analysis
The Global Proactive Security Market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to be the largest market with the increasing need for enterprises to protect their data from advanced cyberattacks and maintain compliance with regulations and standards in the region. Also, maximum number of leading market players are based in the US, which is expected to contrbute to the market.
Segments
According to Market Research Future, the Global Proactive Security Market has been segmented based on component, organization size, vertical, and region/country.
Enterprises are able to effectively secure their data from cyber attacks by adopting proactive security solutions. These solutions assist enterprises in optimizing their security infrastructure, manage security vulnerabilities easily, and control all the security solutions from a single platform. The major factors boosting market growth are the increasing need for regulatory compliance with standards such as General Data Protection Regulation (GDPR), Health Insurance Portability and Accountability Act (HIPAA), Federal Information Security Management Act (FISMA), Sarbanes–Oxley Act (SOX), Gramm–Leach–Bliley Act (GLBA), Payment Card Industry Data Security Standard (PCI DSS), and Federal Information Processing Standard (FIPS). The strategic shift of enterprises towards proactive security due to the increasing sophistication of attacks is also driving the market growth. The increasing adoption of cloud-based cybersecurity services and the rapid digital transformation of organizations in major economies, offer lucrative opportunities for proactive security providers in the market. Many enterprises are investing in IT security to safegaurd against the cyber attacks, but the high investment costs are a matter of concern for SMEs. Also, advanced security solutions require innovative and technologically advanced solutions, which are more costly. Thus, budgetary constraints of enterprises are a barrier and can limit market growth during the forecast period.
By component, the Global Proactive Security Market has been divided into solutions and services. The solutions segment has been further categorized as security monitoring and orchestration, attack simulation, risk and vulnerability management, security analytics and advanced malware protection. The services segment has been categorized as professional services and managed services. The risk and vulnerability management solution segment is expected to have a larger market share, while the security analytics solution is projected to register the highest CAGR during the forecast period.
Based on organization size, the market has been segmented into large enterprise and small- and medium-sized enterprise (SME). The large enterprise segment is expected to have a greater market size during the review period. Large organizations extensively deploy proactive security on premise as well as on the cloud. SMEs are expected to grow with higher CAGR as SMEs are increasingly facing malware-based and DNS-based cyberattacks.
By vertical, the global proactive security market has been divided into IT and telecommunication, banking, financial services, and insurance (BFSI), healthcare and life sciences, government and defense, retail and e-commerce, energy and utilities, manufacturing, and others. The BFSI vertical is expected to be the largest segment and is expected to grow with the highest CAGR during the forecast period.
By region, the global proactive security market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
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LIST OF TABLES
Table 1 Global Proactive Security Market, By Region, 2019–2024
Table 2 North America: Global Proactive Security Market, By Country, 2019–2024
Table 3 Europe: Global Proactive Security Market, By Country, 2019–2024
Table 4 Asia-Pacific: Global Proactive Security Market, By Country, 2019–2024
Table 5 Rest Of The World: Global Proactive Security Market, By Country, 2019–2024
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LIST OF FIGURES
FIGURE 1 Global Proactive Security Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Proactive Security Market
FIGURE 4 Value Chain/Supply Chain Of Global Proactive Security Market
FIGURE 5 Share Of The Global Proactive Security Market In 2018, By Country (In %)
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