SAN FRANCISCO, April 13, 2021 /PRNewswire/ — The global cyber security services market size is expected to reach USD 192.70 billion by 2028, registering a CAGR of 10.2% over the forecast period, according to a new report by Grand View Research, Inc. Continued cybersecurity breaches on the enterprise and individual levels, and the subsequent need to address the vulnerabilities in networks, apps, and systems, are the factors expected to drive the growth. The need for identifying advanced, persistent threats to networks, monitoring critical infrastructure 24/7, and penetration testing applications for meeting various regulatory compliance standards and acts, such as FISMA, MARS-E, PCI DSS, Sarbanes-Oxley (SOX), and HIPAA, is expected to contribute to the growth of the market.
Key suggestions from the report:
- Advancements in artificial intelligence, machine learning, and the internet of things are disrupting cyberspace and reshaping the global threat landscape, thereby driving the growth of the market over the forecast period
- The healthcare segment is anticipated to exhibit the highest CAGR of 11.4% over the forecast period. The increased instances of cybercrimes in the recent past, and particularly during the outbreak of the COVID-19 pandemic, have prompted healthcare application developers to address the application vulnerabilities
- Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growing demand for penetration…
