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North America Cyber Security Market Forecast 2021-2028

The North America cyber security market is predicted to project a CAGR of 9.22% during the forecast period, 2021-2028. The technological advancements, as a result of the implementation of cyber security solutions by major organizations, growing cloud-enabled activities, and thriving cloud marketplace trends, are set to fuel the market growth of the region.

The North America cyber security market growth evaluation is based on the assessment of the United States and Canada. A recent study stated that Canada ranks third in the most cyber incidents in the world, despite the smaller market size. Cybercrime is gaining rapid traction in the country at an alarming rate. A survey by ESET Cybercrime Barometer 2018 revealed that most Canadians perceive cybercrime as a threat. Further, almost 1 in 5 companies come under cyber-attack, as per Statistics Canada. The country is considered as one of the most exposed when it comes to cybercrime, with businesses and organizations adapting to a diverse digital solution. McDonald's Canada was exposed to a cyber-attack in March 2017, compromising the personal data of 95,000 job seekers. It further creates new avenues for companies to invest in innovative solutions. However, most companies are not optimistic about defending the vulnerability, which presents lucrative opportunities for market players during the forecast period. Furthermore, banks in Canada lead when it comes to preventing and detecting cyber security threats, working closely with bank regulators and law enforcement. Such factors are set to result in immense growth opportunities for the cyber security market in Canada.

Some of the distinguished companies operating in the market include, IBM Corporation, Imperva (Acquired by Thoma Bravo, Llc), Cisco Systems Inc, Intel Security (Intel Corporation), CyberArk Software Ltd, etc.

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North America Cyber Security Market Forecast 2021-2028
Published By :Inkwood Research
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