GLOBAL CYBERSECURITY MARKET 2017–2029: DYNAMICS, STRUCTURE, CHALLENGES AND KEY PLAYERS
DOI:
https://doi.org/10.31379/sed.1.4.2025.38Keywords:
cybersecurity, cybersecurity market, Security Services, Cyber Solutions, cyber threats, data breaches, phishing, IT budgets, digital transformation, CAGR, Microsoft, IBMAbstract
The article provides a comprehensive analysis of the global cybersecurity market for the period 2017–2029 based on data from Statista Market Insights’ Cybersecurity Market Report (2024). It is found that the market volume will grow from US$89.72 billion in 2017 to a projected US$271.90 billion in 2029, corresponding to a compound annual growth rate (CAGR) of 9.68%. The market is divided into two main segments: Security Services ($155.7 billion in 2024, 52.4% of the total volume) and Cyber Solutions ($88.4 billion). A regional comparison of five key countries (US, China, UK, Japan, Germany), which together generate 66.8% of the industry’s global revenues, is made. The most dynamic national market is China (CAGR 12.7%); the absolute leader is the USA (65.6% of the top five). The structure of cyber threats is analyzed, where phishing schemes account for 53.24% of all attacks, and the average cost of a data breach in the healthcare industry exceeds the global average by 2.46 times. Special attention is paid to the corporate strategies of industry leaders - Microsoft Corporation (CAGR 14% in 2020–2023) and IBM (CAGR 3.9%). The basic, optimistic and pessimistic scenarios for the development of the industry until 2030 are formulated.
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