Proactive Security Market Study Offering Insights on Latest Advancements, Trends & Analysis from 2021 to 2030

In a recent published report, Kenneth Research has updated the market report for Proactive Security Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

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U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Proactive Security Market products.

Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

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In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Proactive Security Market over the period 2019-2026.

Market Synopsis

The Global Proactive Security Market is Expected to Register a CAGR of 16.4% During The Forecast Period to Reach USD 43.4 billion by 2024.

Small- and medium-sized as well as large enterprises are heavily investing to prevent instances of cyberattacks and data breaches before they happen. Similarly, managed service providers are also focussing on proactively safeguarding data instead of troubleshooting the issues later. The rising adoption of IoT, smart mobile devices and trends like BYOD has increased the number of connected devices in enterprises which gives rise to the need for having a proactive security system in place. A higher number of connected devices leads to vulnerabilities in the IT infrastructure. A large number of enterprises are thus opting for proactive security solutions over reactive security solutions.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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The increasing number, as well as variety of cyberattacks, has urged the companies to implement proactive security solutions. Also, the rising need to comply with stringent data protection regulations is another factor contributing to market growth. However, the budgetary constraints to deploy proactive cybersecurity solutions are expected to limit market growth during the forecast period. Growing adoption of cloud-based solutions across verticals and the increasing trend of digital transformation of enterprises offer lucrative opportunities to the key providers of proactive security in the global market. The market faces challenge of a limited number of skilled cybersecurity professionals.

Segmentation

The global proactive security market has been segmented based on component, organization size, vertical, and region/country.

By component, the global proactive security market has been divided into solutions and services. The solutions segment has been further categorized into security monitoring and orchestration, attack simulation, risk and vulnerability management, security analytics and advanced malware protection. The services segment has been categorized as professional services and managed services.

Based on organization size, the global proactive security market has been divided into small- and medium-sized enterprise (SME) and large enterprise.

On the basis of vertical, the global proactive security market has been divided into IT and telecommunication, banking, financial services, and insurance (BFSI), healthcare and life sciences, government and defense, retail and e-commerce, energy and utilities, manufacturing, and others.

The global proactive security market has been analyzed for four regions—North America, Europe, Asia-Pacific, and the rest of the world.

Key Players

The key players in the global proactive security market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include IBM Corporation (US), Corvil (Ireland), Altran (France), Cisco Systems Inc. (US), Palo Alto Networks, Inc. (US), Securonix, Inc. (US), LogRhythm, Inc. (Netherlands), Rapid7 ( US), Symantec Corporation (US), FireEye, Inc. (US), McAfee, LLC (US), CyArx Technologies LTD (US), Oracle Corporation (US), AT&T (US), and FUJITSU (Japan). The key strategies adopted by most of the players are partnerships, agreements, and collaborations.

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The other players in the proactive security market are Skybox Security, Inc. (US), Splunk Inc. (US), Swimlane LLC. (US), Centrify Corporation (US), ThreatConnect Inc. (US), DEMISTO (US), RSA Security LLC. (US), FireMon, LLC. (US), CyberSponse, Inc. (US), Trustwave Holdings, Inc. (US), Qualys, Inc. (US) and others.

Regional Analysis

The Global Proactive Security Market is estimated to grow at a CAGR of 16.4% during the forecast period from 2019 to 2024. The geographic analysis of the global proactive security market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.

North America accounted for the highest market share, owing to the strategic shift of enterprises towards proactive security solutions due to increasing sophistication of cyber attacks. The US leads the market in North America owing to the early adoption of cybersecurity solutions and initiatives by key players in the form of partnerships with different technology players for product enhancement. Prevention of increasing security attacks and breaches act as a driving force for the growth of the market.

Europe is expected to be the second-largest market during the review period due to the rising need among enterprises to maintain the confidentiality of data and comply with stringent regulations. Asia-Pacific is anticipated to be the fastest growing market in the global proactive security market during the forecast period. The rise in the adoption of proactive security services among SMEs and large enterprises and growing adoption of cloud-based security solutions are the key drivers for the growth of the proactive security market in Asia-Pacific.

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Competitive Analysis

The proactive security market has witnessed a high demand globally due to the rise in demand from industries such as BFSI, government and IT and telecommunication. Major players have opted for partnerships and new product development as their key organic growth strategies to strengthen their position in the market and cater to the demands of enterprises across verticals. For instance, in February 2018, Trustwave Holdings, Inc. (US) launched a proactive threat hunting service particularly for the government sector; the service strengthens government agencies’ cyber defenses, letting them prevent an attack by detecting cybersecurity threats sooner.

Intended Audience

Cybersecurity vendors

Information security consultants

Security system integrators

Managed Security Service Providers (MSSPs)

Independent software vendors

Proactive security vendors

Cloud services providers

Distributors and Value-Added Resellers (VARs)

Investors and venture capitalists

Compliance officers

Regulators

Chief Financial Officers

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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