Enterprise Cyber Security Market To Reach $18 Bn By 2026; BFSI Key Sector

The Global Enterprise Cyber Security market accounted for $3.35 billion in 2017 and is expected to reach $17.65 billion by 2026 growing at a CAGR of 20.3%, predicts a latest study by ResearchAndMarkets.

Some of the key factors influencing the market growth include increasing adoption of cloud-based services and an increase in the frequency and sophistication of cyber threats. However, the high cost of implementation is restraining the market growth.

Based on the application, BFSI has emerged as a potent sector due to increased cybercrime activities. The BFSI sector is among the backbone of economies and its safety is a matter of high concern. The BFSI industry is an early adopter of cutting-edge cybersecurity solutions due to the highly sensitive financial data. It faces different challenges related to stringent regulatory and security requirements, providing superior service to customers, and others.

By Geography, North America is a region of innovative technology adopters and has a large presence of cybersecurity vendors who are contributing to the growth of the market. Especially the United States will play an important role which cannot be ignored. Any changes from the United States might affect the development trend of Enterprise Cyber Security.

Some of the key players in global Enterprise Cyber Security market are Intel, Cisco Systems, Check Point Software Technologies, Akamai Technologies, IBM, 360 Enterprise Security, Huawei, Westone, Nsfocus, Asiainfo, Venustech, H3C, Topsec, Sangfor, DBAPP Security and Symantec Corporation.

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