Internet Security Market

Global Internet Security Market Size (2024 to 2032)

The internet security market share is expected at USD 59.27 billion in 2024, and estimated to reach USD 136.59 billion by the end of 2032, growing at a CAGR of 11% during the forecast period.

Internet security protects users' activities when connected to websites, web browsers, web apps, and networks through the Internet. Internet security plays an important role in protecting users from cyberattacks. There are ‘n’ a number of risks associated with the protection of digital assets. Even though the internet has changed the world far better, whether in communication or other areas, the need to secure connections from cyberattacks is also becoming more and more common. Internet security issues like phishing, botnets, spam, data loss, and malware may arise more frequently, so looking over these issues through security solutions is essential.

MARKET DRIVERS

The increasing demand to protect digital assets from cyber threats across the world, along with the rising IT industry, is a major factor in the market's growth.

IT industry allowed many employees to work from home, which amplified the risk of cyber threats in an enormous way. The landscape of the internet changes frequently, and these changes often lead to a rising number of threats. Work The work-from-home option complicates the intensity of cyber threats, and various factors are evaluated when adopting internet security solutions in every IT industry. Cyber attackers take advantage of employees doing work from home due to a lack of control over access from IT teams, routers, firewalls, and others when employees are allowed to work from home. However, advanced technology played a vital role in resolving all the issues raised during the weaker home network security that leveraged the growth rate of the internet security market. The growing scale of the IT industry, especially in both developed and developing countries, is ascribed to fuel the market share. In addition, the rapid adoption of advanced technology also imposes the need for the adoption of internet security, which eventually fuels the growth rate of the market. Companies ' increasing focus on protecting their data at any cost with the available technology is amplifying the market size.

The rising number of people using smartphones is another primary factor boosting the growth rate of the internet security market.

Smartphone consumers can connect to the internet and use many applications. Access to variety of applications like e-mail, messaging, social media, and others is possible with a smartphone that is connected to the internet. According to stats, approximately 6.5 billion smartphones are in use across the world in 2023. The majority of people own at least one smartphone, and the number of using smartphones increases with the rising population every year. The rising usage of smartphones with internet connection levels up the need for internet security, which will fuel the market value.

MARKET RESTRAINTS

The lack of trained or skilled people is one of the major drawbacks to the effective growth rate of the market. Internet security solutions need professionals to identify or eradicate cyber-attacks. The frequently changing landscape of the internet generates new threats, and finding those solutions in the respective timelines is a bit difficult in some cases, eventually degrading the market share. In addition, the adoption of advanced technology requires high investments, where a lack of initial investment, especially in small-scale industries, slightly hinders the market growth rate.

MARKET OPPORTUNITIES 

Penetration of highly advanced technologies, where the launch of advanced applications is the most common thing in the IT industry, is gearing up to showcase huge growth opportunities for the internet security market. The trend towards people's adoption of these latest technological developments is attributed to elevating the growth rate of the market. Artificial intelligence, big data analytics, IoT, 5G, edge computing, and others are popular technologies that help in launching new security solutions. Ongoing research and development activities, with the rising support from government authorities to reduce the risk of cyber-attacks, are solely meant to leverage the growth rate of the market in the coming years.

MARKET CHALLENGES

In today’s world, internet connectivity is pushing positive impacts on the day-to-day life of a human life more than just making better communication. Hackers are predominantly adopting new ways to gain access to confidential information as the companies depend on the cloud computing platform at the highest rate. Securing data from the cloud platform in every possible way will act as a barrier to the market growth rate in the future.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Internet Security Market Analysis By Offering

The services segment is leading with the dominant share of the market with the rising number of applications using internet connectivity. Rising digital payments are exponentially increasing the need for security and privacy, eventually prompting the growth rate of the market. The cloud security segment has been gaining huge traction over the share of the market in the past couple of years. The solution segment is likely to grow at a higher rate during the forecast period. Solution segment share is mainly driven by the rising adoption of the cloud infrastructure for storage.

Global Internet Security Market Analysis By Deployment Mode

Cloud deployment mode is the latest trend, as many companies are inclined to deploy their application in the cloud, which enhances the service's effectiveness. Integration with cloud deployment has been part of the application in many companies, with the rising need to promote high-quality services for users without any real-time issues. The launch of new technologies to curb the risk of cyberattacks is ascribed to elevate the growth rate of the market. Also, the hybrid segment is deemed to grow at a higher rate during the forecast period.

Global Internet Security Market Analysis By Organization Size

Based on the organization size, the large enterprises segment is leading with the dominant share of the market, whereas the SMEs segment has been steadily growing at a higher pace in recent years. Government support to promote the launch of various applications for the user’s safety is accounted in gearing up the growth rate of the large enterprises market. Large enterprises account for adopting advanced technology as they invest more in infrastructure and data assets. Therefore, these enterprises rely on high-security applications to protect their digital assets.

Global Internet Security Market Analysis By Verticals

The telecommunication segment is thriving with the highest share of the market, whereas the healthcare & life sciences segment accounted for gaining traction over the growth rate of the market. Technological advancements are growing in every vertical where cyber threats or security breaches are occurring quite often. The need to protect one’s privacy and the data assets in hospitals is very important, which is why the demand to adopt internet security solutions is growing in a precedented way. According to current stats, out of 1,00,000 or more records, around 114 records were data breached by the attackers in 2023. The sharp increase in the number of cyber attacks in healthcare is the primary factor for the market to grow in this segment.

REGIONAL ANALYSIS

North America is leading with the highest market share owing to the presence of the top IT companies. Focus on the development of new applications with the latest technology is adding fuel to the growth rate of the market in North America. Top technology giants prefer to maintain high security levels to avoid the risk of cyber-attacks. The rising number of cyber attacks in North America is elevating the companies’ investments in data protection through various solutions, which is anticipated to level up the market size.

Following North America, Europe is leading with the dominant share of the market. Germany, the UK, France, Spain, and Italy are the major countries contributing the highest share of the market. Collaborations between companies and the launch of innovative security solutions are anticipated to leverage the growth rate of the Internet security market. Many companies install internet security solutions to provide security for the highly intimate information of organizations, propelling the market size in Europe.

Asia Pacific is estimated to hit the highest CAGR by the end of 2029. Growing per capita income and growing number of people seeking effective internet security applications with the increase in awareness of cyber threats are greatly influencing the market value in the internet security market. Also, the growing number of smartphone users, even in remote areas, and the rising number of internet connections are majorly attributed to boosting the market value. Rising investments from foreigners, with the increasing support of the government authorities, account for leveling up the growth rate of the internet security market.

KEY PLAYERS IN THE MARKET

• Accenture
• Broadcom Inc.
• Capgemini
• Cognizant
• F5 Networks Inc.
• FireEye Inc.
• HCL Technologies Limited
• IBM Corporation
• Infosys Limited
• L&T Technology Services Limited
• PwC International Limited Broadcom Inc.
• Tata Consultancy Services
• Tech Mahindra Limited
• Wipro Limited

RECENT HAPPENINGS IN THE GLOBAL INTERNET SECURITY MARKET

• On January 16, 2024, Accenture and SandboxAQ collaborated together to launch Artificial intelligence (AI) and quantum computing solutions to identify cybersecurity vulnerabilities. The new solution provided by this partnership will enhance the organizations' safety and security protection from breaches. The solution will enable the scanning of all the files, applications, and network traffic, whether it may be on-premise or cloud deployment, and allows a high-security solution even when the hacker breaks through firewalls and network endpoints.

• In 2024, VMWare was acquired by Broadcom Inc., which is reshaping the dynamics in the technology industry. The major aim of these companies is to strengthen their position in the marketplace. Their next move is to launch innovative internet security solutions with highly advanced technology like artificial intelligence and others.

DETAILED SEGMENTATION OF THE GLOBAL INTERNET SECURITY MARKET INCLUDED IN THIS REPORT

This research report on the global internet security market has been segmented and sub-segmented based on the offering, deployment mode, organization size, vertical, and region. 

By Offering

• Solution

  • IAM

  • Antivirus/Antimalware

  • Log Management & SIEM

  • Firewall

  • Encryption & Tokenization

  • Compliance & Policy Management

  • Patch Management

  • Others

• Services

  • Network Security

  • Endpoint & IoT Security

  • Cloud Security

  • Application Security

By Deployment Mode

• On-premises

• Cloud

• Hybrid

By Organization Size

• Large Enterprises

• SMEs

By Verticals

• Government

• BFSI

• Healthcare & Lifesciences

• Aerospace & Defense

• Retail & eCommerce

• Manufacturing

• Energy & Utilities

• Telecommunication

• Transportation & Logistics

• Media & Entertainment

• Others

By Region

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East and Africa