Market Overview

North America Cybersecurity Market Report (2018-2023) - ResearchAndMarkets.com

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The "North
America Cybersecurity Market (2018-2023)"
report has been added
to ResearchAndMarkets.com's offering.

The North America cybersecurity market is anticipated to grow at an
overall compound annual growth rate (CAGR) of 10.4 % and will be worth
of USD 66.05 Bn by 2023.

With increased internet penetration, cyberattacks are becoming more
powerful, allowing hackers greater access to new technology. One such
example is the production a malware called Flame'.

The cybersecurity market in North America is anticipated to be driven
majorly by the U.S. throughout the forecast period. This is because in
the U.S., various private and public agencies are implementing their
cyber security standards in order to provide advanced benefits to their
customers.

By countries, the North America cybersecurity market is divided into the
U.S. and Canada. The U.S. is expected to hold more than half of the
market. It was also reported that in U.S, the average cost of cybercrime
was more than 17.36 Bn in 2017. This is one of key reasons that the U.S.
is prioritizing cybersecurity and investing a huge amount of money to
deal with cyber threats. Canada is also expected to show a high growth
rate during the forecasted period. The region is showing exponential
growth rate in the digital market place, thereby increasing the need for
cyber insecurity. Hence expected to improve the cybersecurity solution
to combat the situation.

By end user industries, the North America cybersecurity solutions are
used in financial services, telecommunication, healthcare, public
sector, and others. Financial services dominates the market because of
increasing adoption of digitization, which is prone to cyberattacks. In
2017, New York issue a regulation where financial institutions were
required to organize a detailed program to protect customer data and
make sure that employees are trained to identify threats.

Key growth factors:

  • North America holds the largest market share because there are a large
    number of players offering cybersecurity solutions in the region. The
    organizations have made huge investments in advanced technology
    because of a larger concern about security purposes.
  • North America dominates the payment card industry. It captured half of
    the market share. This increased the demand for both firewalls and
    intrusion prevention technologies.

Threats and key players:

  • Cybersecurity solution is more costly for smaller businesses to fit in
    their budgets, which is why they lack the tools prevent and combat
    cyberattacks
  • The lack of information, understanding, and time are the key factors
    that are hindering organizations from advancing their cybersecurity
  • The key players in this market area IBM, Raytheon, Symnatec, Cisco, HP
    intel, and Palo Alto Networks

Companies Mentioned

  • IBM
  • Raytheon
  • Symantec Corporation
  • Cisco
  • HP Intel
  • Palo Alto Networks

For more information about this report visit https://www.researchandmarkets.com/research/bs54kg/north_america?w=4

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