As per the study of Astute Analytica, the global cybersecurity market is anticipated to grow at a CAGR of 13.40% during the forecast period of 2021 to 2027. The market marked a revenue of $162.9 Bn in the year 2021 and is estimated to reach $346 Bn by the end of the year 2027, with around 2.4 times of growth over the study period.
Global cybersecurity market size is expected to expand based on various factors such as rise in demand for data and information protection across the globe, rise in number of malicious cyber activities. According to one of INTERPOL’s private sector partners, 907,000 spam messages, 737 incidents related to malware and 48,000 malicious URLs – all related to COVID-19 were detected during January-April in the year 2020. Further, rise in number of internet users drives the growth of cybersecurity industry across the globe.
