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The increasing instances of massive cyber-attacks are expected to drive innovation in cybersecurity services manufacturing, thus driving the market during the forecast period.

The global cybersecurity services market is expected to grow from $81 billion in 2022 to $90.56 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The global cybersecurity services market size is expected to grow to $139.24 billion in 2027 at a CAGR of 11.4%.

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Global Cybersecurity Services Market Segments Include:

• By Security Type: Network Security, Endpoint Security, Application Security, Cloud Security, Other Security Types
• By User Type: Large Enterprises, Small & Medium Enterprises
• By Industry Verticals: Aerospace and Defense, BFSI, Public sector, Retail, Healthcare, IT and Telecom, Energy and Utilities, Manufacturing, Other Industry Verticals
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global cybersecurity services market in 2021.

Major Market Players in the cybersecurity services market include Cisco Systems, IBM Corporation, Microsoft, Check Point Software Technologies, Oracle, Trend Micro., Cyber Ark Software Ltd.

Leveraging AI, machine learning, and blockchain technologies for cyber defense is a key trend in the cybersecurity services market. Cybersecurity vendors integrate artificial intelligence (AI) and machine learning principles into their solutions to tackle crucial hyper-connected workplace risks, with quicker identification, prevention, and responsiveness capabilities, the advances in technology, such as AI and machine learning, turn the tables against cybercrime. Vade Secure is one of the world’s largest e-mail security firms, leveraging artificial intelligence and machine learning to defend more than 600 million mailboxes in 76 countries from a range of attacks comprising spear phishing, ransomware, and malware. In June 2020, the firm received an investment of more than $75 million from General Catalyst and plans to extend the use of AI to secure inboxes all over the globe. Cybersecurity specialists are therefore leveraging AI and machine learning technology to resolve the emerging cyber threats facing individuals, companies, and governments.

The Cybersecurity Services Global Market Report 2023  provides a cybersecurity services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cybersecurity services market forecast analyzes cybersecurity services market size, cybersecurity services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Cybersecurity is a practice of protecting the network, computers, mobile devices, hardware, electronic systems and data from digital or malicious attacks. It is also known as electronic information security and information technology security.

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