Explore in this post how many cybersecurity companies are there in the world and how big the cybersecurity market is.
How Many Cybersecurity Companies Are There In The World?
There are 39,000 cybersecurity companies in the world, according to ResearchGate. It’s an impressive number, but there are even more cybersecurity firms worldwide.
The number is not exact since many cybersecurity companies are not listed on ResearchGate. But based on the number of companies that are there, it is possible to estimate that there are around 50,000 cybersecurity firms worldwide.
ResearchGate shows that there are around 4,500 security consulting firms, including independent consultants and security services firms. Also, over 30,000 security products and service providers.
The cybersecurity market is estimated to be worth around $122 billion in 2018 and it will reach $202 billion by 2022. The figure represents a compound annual growth rate of 11.48 percent.
What Is The Size Of The Cybersecurity Market?
The size of the cybersecurity market is estimated to be worth $122 billion in 2018 and it will reach $202 billion by 2022. The figure represents a compound annual growth rate of 11.48 percent.
The global cybersecurity market is projected to reach $170 billion by 2020, according to a report by Research and Markets. The growth will be driven by rising spending on cloud-based security services and increasing cyberattacks against enterprise networks.
In 2017, the cybersecurity market was worth an estimated $106 billion worldwide, according to Gartner, Inc. That figure is expected to rise to $113 billion in 2018, with a CAGR of 2.8 percent from 2017 to 2020.
The market will be fueled by spending on networks. Also, endpoint security and cloud-based security services, according to Gartner.
By The Year 2020
By 2020, mobile device security services will be an $8 billion market, and the mobile device management (MDM) software market will reach $5 billion, Gartner predicts.
The cybersecurity market is expected to grow at a CAGR of more than 12 percent by 2020. Is according to Cybersecurity Ventures.
The cybercrime industry is worth an estimated $445 billion per year, and it’s growing very fast.
In the United States alone, there were over 12 million cybercrimes recorded in 2014 with a cost of over $100 billion. The number of cybercrimes is increasing every year, and experts predict that there will be more than 20 million cybercrimes in the U.S. in 2017 alone.
A recent study indicates that the United States will lose more than $6 trillion due to cybercrimes in the next five years. That’s more than the current Gross Domestic Product (GDP) of all but 18 countries in the world.
Conclusion
Cybersecurity is an important part of our digital lives, and it will become even more important in the future. There are many cybersecurity companies in the world, but their number is growing very fast.
The cybersecurity market is growing at an impressive rate, and the future of the industry looks bright. Companies need to invest in cybersecurity since cybercrime is a very serious threat.
