Cybersecurity Market Is Projected To Reach US$552.35 Billion By 2031 With CAGR Of 13.8% | The Insight Partners

NEW YORK, Sept. 16, 2025 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global cybersecurity market is observing significant growth owing to the rise in cyber threats and attacks, stringent government regulations and compliance, and a surge in need to protect business assets.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the cybersecurity market comprises a vast array of components, types, organization size, industry vertical, and geography, which are expected to register strength in the coming years.

The report from The Insight Partners, therefore, provides several stakeholders—including suppliers, distributors, customers, competitors, and others —with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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Overview of Report Findings

1. Technological Innovations: Integrating artificial intelligence (AI) into cybersecurity solutions is rapidly emerging as a transformative trend, poised to reshape the global cybersecurity market. As cyber threats grow in sophistication and frequency, traditional security measures are proving insufficient to detect and respond to advanced attacks in real time. AI-driven technologies are now becoming essential to enhance threat detection, automate incident response, and strengthen overall security posture.
   AI enables security systems to analyze vast volumes of data at high speed, identify patterns, and detect anomalies that may indicate malicious activity, often before a breach occurs. Machine learning algorithms continuously evolve by learning from new threats, making AI-powered systems more adaptive and predictive over time. This capability is particularly valuable in combating zero-day attacks, advanced persistent threats (APTs), and polymorphic malware. Leading vendors are increasingly embedding AI and machine learning into their platforms to deliver intelligent, scalable, and proactive cybersecurity solutions.
   For instance, in June 2025, Honeywell introduced its latest AI-powered cybersecurity solutions, Cyber Proactive Defense and OT Security Operations Center, designed to strengthen operational resilience and safety across industrial environments. Announced at the 49th annual Honeywell Users Group, these innovations represent a significant milestone in Honeywell's strategic evolution from automation toward full autonomy.
2. Rise in Cyber Threats and Attacks: Cyberattacks pose a significant risk to businesses, with incidents continuing to rise due to technological advancements. Computer malware, data breaches, and denial of service (DoS) are a few examples of cyber risks.
   In the first quarter of 2024, the Anti-Phishing Working Group (APWG) recorded 963,994 unique phishing websites, which declined to 877,536 in the second quarter. Despite this decrease, phishing continues to be a widespread problem. According to Interisle Consulting, phishing attacks globally saw a slight year-over-year increase, rising by 50,000 to nearly 1.9 million between May 2023 and April 2024. Similarly, according to the IBM Cost of a Data Breach Report 2024, the average cost of a data breach rose to US$ 4.88 million, up from US$ 4.45 million in 2023. This 10% increase marks the largest year-over-year jump since the onset of the pandemic.
   Cyber threats have serious consequences for individuals, corporations, and governments. As a result, many firms are concentrating on data protection as part of their larger cybersecurity initiatives. Organizations can better protect themselves from data breaches and other types of cyberattacks by implementing a robust data protection strategy. Thus, an upsurge in the number of cyberattacks has bolstered the importance of cybersecurity to safeguard critical infrastructures and ensure data safety, fueling cybersecurity market growth.
3. Geographical Insights: In 2024, North America dominated the cybersecurity market. Europe is the second-largest contributor to the global Cybersecurity Market, followed by Asia Pacific. Moreover, Asia Pacific is anticipated to record the highest CAGR in the market during the forecast period.

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Market Segmentation

• Based on component, the cybersecurity market is segmented into solution and services. The solution segment held the largest share of the cybersecurity market in 2024.
• In terms of type, the cybersecurity market is divided into network security, endpoint security, application security, infrastructure security, and others. The network security segment held the largest share of the cybersecurity market in 2024.
• The cybersecurity market is segmented by organization size into large enterprises and SMEs. The large enterprises segment held the largest share of the cybersecurity market in 2024.
• The global cybersecurity market, by industry vertical, is segmented into BFSI, IT and telecom, government, healthcare, manufacturing, retail and ecommerce, and others. The BFSI segment held the largest share of the cybersecurity market in 2024.
• The cybersecurity market is segmented into five major regions: North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.

Competitive Strategy and Development

• Key Players: A few major companies operating in the cybersecurity market include IBM Corporation, Oracle Corporation, Open Text Corporation, SAP SE, Cisco Systems, Microsoft Corp, Broadcom Inc., Palo Alto Networks Inc, CrowdStrike Holdings Inc, and Fortinet Inc, among others.
• Trending Topics: Data Protection, Multi-factor Authentication, Identity Verification, Zero Security, among others.

Global Headlines on the Cybersecurity Market

• "Broadcom Inc. announced its Accelerate Program, delivered through sole-provider distribution agreements. An expansion of the Broadcom Global Cybersecurity Aggregator Program, the Accelerate Program is aimed at providing enhanced service levels for more Broadcom software solutions delivered to a broader range of Broadcom customers across multiple geographies."
• "Oracle announced the Oracle Defense Ecosystem, a first-of-its-kind global initiative to redefine the delivery of defense and government technology innovation. The ecosystem is designed to strengthen U.S. and allied national security and help accelerate the disruptive potential of emerging defense technology by creating new opportunities for defense innovators to leverage the latest cloud and AI technologies. Initial members of the Oracle Defense Ecosystem include Arqit, Blackshark.ai, Entanglement, Fenix Group, now part of Nokia Federal Solutions, Koniku, Kraken, Mattermost, Metron, SensusQ, and Whitespace."

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Conclusion

The emergence of cloud computing, remote work, and digital transformation initiatives has increased the potential attack surface, making businesses more vulnerable to advanced cyber threats. Organizations are implementing proactive cybersecurity strategies to address these risks, such as zero-trust architecture, AI-driven threat detection, and employee training programs to enhance their defense capabilities.

Moreover, regulatory frameworks such as GDPR, CCPA, and India's Digital Personal Data Protection Act are placing increased emphasis on data protection, driving businesses to implement robust cybersecurity policies and governance models. According to the Privacy Laws and International Business Report, as of 2023, 83% of countries had passed data protection and privacy legislation, in contrast to 66% in 2020. The General Data Protection Regulation (GDPR), established in 2018, is a comprehensive data privacy framework enacted by the European Union (EU) to safeguard the personal information of individuals.

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