Cyber Security Market
Geographically, the Asia-Pacific cyber security market is expected to witness the fastest growth in the forthcoming years.
NEW YORK, UNITED STATES, May 24, 2022 /EINPresswire.com/ — The global cyber security market had a valuation of $119.9 billion in 2019 and is predicted to progress at a CAGR of 12.6% between 2020 and 2030. According to the estimates of the market research firm, P&S Intelligence, the market will generate a revenue of $433.6 billion by 2030. The main factors propelling the advancement of the market are the increasing smartphone penetration, the rising incidence of cyberattacks, soaring digitization, and the growing popularity of cloud computing around the world.
The increasing occurrence of data breaches is a major factor driving the advancement of the market across the globe. Weak passwords, improper configuration, complex access permissions, and malware attacks are the prominent reasons behind the high incidence of data breaches. The increasing focus of businesses toward cloud computing and shifting their databases to cloud networks is pushing up the prevalence of data breaches….
