Cybersecurity Services Market Trends: Leveraging Artificial Intelligence, Machine Learning And Blockchain Technologies For Cyber Defense

Cybersecurity Services Market Trends: Leveraging Artificial Intelligence, Machine Learning And Blockchain Technologies For Cyber Defense

“Cybersecurity Services Market Global Report 2020-30: Covid 19 Growth And Change”
The Business Research Company’s Cybersecurity Services Market Global Report 2020-30: Covid 19 Growth And Change, Segments Covered: 1) By Security Type: Network Security, Endpoint Security, Application Security, Cloud Security, Others 2) By User Type: Large Enterprises, Small & Medium Enterprises 3) By Industry Verticals: Aerospace And Defense, BFSI, Public Sector, Retail, Healthcare, IT And Telecom, Energy And Utilities, Manufacturing, Others

Leveraging artificial intelligence (AI), machine learning and blockchain technologies for cyber defense is a key trend in the cybersecurity services market. Cybersecurity vendors integrate artificial intelligence (AI) and machine learning principles into their solutions to tackle crucial hyper-connected workplace risks, with quicker identification, prevention and responsiveness capabilities. Advances in technology, such as AI and machine learning, turn the tables against cybercrime. For example, Equifax experienced cyber-attacks in September 2017, which resulted in the loss of sensitive information from more than 140 million American customers. The stolen information included names, addresses, social security numbers, birth date and driver’s license numbers. Cybersecurity specialists are therefore leveraging AI and machine learning technology to resolve the emerging cyber threats facing individuals, companies and governments.

The global cybersecurity services market size is expected to decline from $66.87 billion in 2019 to $65.46 billion in 2020 at a compound annual growth rate (CAGR) of -2.1%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities that has led to a slowdown in the economy. This impacted the bottom line of companies, restricting them from investing in cybersecurity services. The cybersecurity consulting services market is then expected to recover and reach $91.1 billion in 2023 at a CAGR of 11.64%.

The increasing instances of massive cyber-attacks are a key factor driving the growth of the cybersecurity services market. The primary motive behind cybercrimes is political competition, financial gain, negative credibility, foreign competition and radical involvement of religious groups. Most cyber-attacks are for financial gain. WannaCry, Petya, NotPetya and BadRabbit are some of the main ransomware products that have targeted large-scale businesses and government organizations. For instance, in March 2018, in the city of Atlanta, US, the SamSam ransomware cyber-attack was triggered. This form of ransomware is installed on the computer network using brute-force attacks to guess weak passwords and encrypt files. The ransomware implications included inaccessibility to various municipal facilities, information leakage and economic loss. Therefore, the increasing instances of massive cyber-attacks compel companies to integrate cybersecurity in their systems and functionality to prevent crashing, thereby driving the growth of the cybersecurity services market.

The cybersecurity services market consists of sales of cybersecurity services that are used in IT and telecommunications and other industries. Cybersecurity refers to the collection of technologies, processes and practices designed to secure networks, computers, software and data against online attacks, destruction or data theft. Cybersecurity can also be identified as the security of information technology.

Major players in the global cybersecurity services market include Cisco Systems, IBM Corporation, Microsoft, Check Point Software Technologies, Oracle, Trend Micro., Cyber Ark Software Ltd., FireEye Inc., Imperva Inc., ProofPoint, Inc., Micro Focus, RSA Security, Sophos, Splunk, Accenture, Capgemini, Cognizant, HCL Technologies Limited, Tata Consultancy Services, Wipro Limited, Qualys, Dell Technologies Inc., AVG Technologies NV, and Intel Security (Intel Corporation).

Here Is A List Of Similar Reports By The Business Research Company:

Cybersecurity Market Global Report 2020-30: COVID-19 Growth And Change

Cyber Insurance Market By Insurance (Standalone, Packaged And Personal), By End Use (IT Services, Media), Distribution (Tied Agents And Branches, Direct And Other Channels, Bancassurance), By End Use And Market Competitors – Global Forecast To 2030

Blockchain Technologies Global Market Report 2020

The World’s Most Comprehensive Database

The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293|
Follow us on LinkedIn:
Follow us on Twitter:


Media Contact
Company Name: The Business Research Company
Contact Person: Oliver Guirdham
Email: Send Email
Phone: +44 20 7193 0708
City: London
State: Greater London
Country: United Kingdom