It is expected that the market will annually grow with a 10% CAGR and exceed $48 bln by 2025 according to the evaluations made by J’son & Partners Consulting.
MOSCOW, RUSSIA, November 2, 2021 /EINPresswire.com/ — The global cybersecurity market has reached $29,6 bln with a 11% YoY growth in 2020 according to the evaluations made by J’son & Partners Consulting. It is expected that the market will annually grow with a 10% CAGR and exceed $48 bln by 2025. The growth is to be driven mostly by new SECaaS model of security services provisioning.
Two-thirds of the market is comprised of on-premise and subscription products for corporate security. This corresponds with the distribution between corporate and public clouds data. Between 2017 and 2020 SECaaS segment demonstrated rapid growth with a 46% CAGR and replaces on-premise solutions rapidly. The rest is shared by WAF and Anti-DDoS solutions, both on-premise and SaaS ones.
The forecast made by J’son & Partners Consulting shows that the market will exceed $48 bln. in 2025, with the 10% CAGR during the period of 2021-2025. SECaaS will be the key driver of the market, with a revenue share of 60%, while the consumption volume will triple by 2025 compared to 2020. The fastest-growing segment will be the SECaaS products for hybrid clouds security with a 24% CAGR. The segment will be attractive both for cloud players and for traditional vendors aiming to transform their business model to a cloud-first approach.
During 2021-2025 the consumption of on-premise and subscription products for corporate perimeter security will be stagnating, while the consumption of hardware-dependent security products and subscriptions for public clouds will fall almost three-fold.
North America is the leading market for security products consumption having almost 41% share, and with even a higher share on SECaaS — around 43%. And it will keep the position in 2021-2025.
„We have developed and applied our original methodology to the market estimation, based on the product’s functionality, types of secured environments, and provisioning models, including both one-time sales and recurrent payments. Along with the usual metrics of estimation and forecasting, as sales volume and total revenue, we used such metrics as the volume of subscribers base, penetration rate and average revenue per user.“ — says Alexander Gerasimov, Head of digital transformation analysis at J'son & Partners Consulting.
The functions included in the estimation are next-generation firewalls, unified threat management, web application firewalls, Anti-DDoS, VPN gateways, data loss prevention, and automated security operation centers. These functions have been distributed into two groups by the types of secured environments: corporate perimeter security, i.e. private cloud, and public clouds security. The segmentation by the models of provisioning includes a traditional model, i.e. one-time sale, and a cloud one (SECaaS).
The raw data for this research is taken from the reports by key security vendors and providers. Using this raw data J’son & Partners Consulting has made a quantitative model of the market to estimate its dynamics, structure, and potential. The detailed results are represented in the full version of the report, available on the website.
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Source: EIN Presswire