Information Security Market Size, Share, Growth, and Industry Analysis, By Type (PSIM+, PSIM, and PSIM lite), By Application (Critical Infrastructure, First Responders, Commercial, and Other), Regional Insights, and Forecast From 2024 To 2030

Updated On: 08 April 2024

Information Security Market Report Overview

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The global information security market size was USD 63.68 billion in 2022. As per our research, the market is expected to reach USD 84.85 billion in 2028, exhibiting a CAGR of 4.9% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the information security market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over

Information security, often abbreviated as "InfoSec," refers to the practice of protecting information from unauthorized access, use, disclosure, disruption, modification, or destruction. It encompasses various strategies, technologies, policies, and processes designed to ensure the confidentiality, integrity, and availability of information.

This market includes security software such as antivirus and firewalls, network and cloud security solutions, identity management tools, and services for threat intelligence, consulting, and training. With the rise of cyberattacks and digitalization, the market has grown significantly to meet the demand for robust protection and compliance with data security regulations. Additionally, the market is split by type, by application, and by regional expansion of the market. 

COVID-19 Impact: Remote Work Underscored the Need for Cybersecurity

The COVID-19 pandemic highlighted the critical role of cybersecurity in maintaining operational resilience and protecting sensitive information during times of crisis. The shift to remote work led to a surge in cyber threats for instance phishing and ransomware, spurring demand for solutions to secure remote access, endpoints, and cloud environments. Besides, increased cloud adoption emphasized the importance of cloud security and identity management. Although, supply chain concerns arose, while a shortage of cybersecurity professionals highlighted workforce challenges. However, regulatory changes and data protection requirements reshaped security strategies, and the acceleration of digital transformation underscored the need for integrated security which is expected to continue to rise over this forecast.

Latest Trends

"Trend of Cloud Based Solution Amplify the Market Scope"

The information security market is evolving rapidly, driven by the growing need for robust cybersecurity solutions in an increasingly digital world. One of the key trends in the information security market is the rise of cloud-based security solutions. With the increasing adoption of cloud computing and remote work, organizations are seeking scalable and flexible security solutions that can protect their data wherever it resides. Furthermore, recent developments in technology have also played a significant role in shaping the information security market. The adoption of cloud computing, Internet of Things (IoT) devices, and artificial intelligence (AI) technologies has expanded attack surfaces, making organizations vulnerable to new types of threats. As a result, there is an increased demand for innovative security solutions that can address these emerging risks.

Information Security Market Segmentation

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By Type Analysis

According to type, the market can be bifurcated into PSIM+, PSIM, and PSIM lite.

By Application Analysis

Based on application, the market can be divided into Critical Infrastructure, First Responders, Commercial, and Other

Driving Factors

"Expanding Digitization of Businesses Accelerate the Demand for the Info-Sec"

One of the driving factors in the market is the increasing digitization of businesses and the rise in sophisticated cyber-attacks. As hackers become more advanced and persistent, businesses need robust security solutions to safeguard their valuable assets. This has led to a surge in demand for advanced threat detection and prevention systems which will contribute to the information security market growth.

"Stringent Regulatory Compliance Drives the Market Growth"

Another driving factor is compliance requirements. Regulatory bodies across industries have imposed stringent data protection standards, forcing organizations to invest in information security measures to avoid hefty penalties. This has created a lucrative market for security solutions that help companies comply with regulations such as GDPR or HIPAA.

Restraining Factors

"Shortage of Skilled Professionals Can Restrict the Market Expansion"

Despite the advancements in technology and increasing awareness of cybersecurity risks, there are still restraining factors that impact the growth of the market. One such factor is the shortage of skilled cybersecurity professionals. As cyber threats become more sophisticated, organizations struggle to find qualified experts who can effectively mitigate risks and respond to incidents. Additionally, Compliance with various data protection laws and regulations adds complexity to information security strategies and increases costs for organizations.

Information Security Market Regional Insights

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"North America Dominates the Market Due to the Presence of Major Tech Companies"

According to a market review, North America, predominantly the U.S. and Canada, has historically dominated the market. Its advanced technology infrastructure, presence of major tech companies, thriving startup ecosystem, research and development investments, robust regulatory frameworks, and heightened awareness of cybersecurity contribute to its leadership in shaping the industry. 

Key Industry Players

"Key Players Offer a Range of Products and Services to Cater Advanced Cyber Threats "

Key players in the market are continuously innovating to stay ahead of emerging threats. Leading companies are investing in cutting-edge technologies such as artificial intelligence and machine learning to enhance threat detection and response capabilities. These advancements enable quick identification of potential risks and enable proactive mitigation measures. Moreover, the top five global key players acknowledge for the highest information security market shares. 

List of Market Players Profiled

• CNL
• NICE Systems
• Tyco international
• Vidsys
• Axxon Soft
• Genetec
• Intergraph
• Milestone System
• PRYSM Software
• Verint Systems

Report Coverage

 This report defines the information security market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.