The 2023 report on the “Cybersecurity Mesh Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Cybersecurity Mesh Market is valued approximately USD 50.54 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.82% over the forecast period 2022-2029. Cybersecurity mesh is type of cyber defense strategy that independently secures each device with its own perimeter – including firewalls and network protection tools. Cybersecurity mesh controls to protect the systems, networks, programs, data, and devices from cyber-attacks. The application of Cybersecurity mash offers various advantages such as increased flexibility, adaptability. The increasing expenditure on cybersecurity worldwide and rising incidences of cybercrimes as well as strategic initiatives from leading market players are key factors accelerating the market growth.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The increasing spending on cybersecurity is the key factor contributing the growth of the Global Cybersecurity Mesh Market. For instance, according to Statista – in 2019, the spending in the global cybersecurity industry was estimated at USD 40.8 billion, and the market increased to USD 60 billion in 2021.
Moreover, rising incidences of cybercrimes is another factor fueling up the market growth. For instance, as per Statista – in 2020, the average cost of a data breach in the healthcare sector worldwide was estimated at USD 9.23 million, and the cost increased to USD 10 million in March 2022. Also, rising emergence of disruptive technologies and growing advancements in AI & blockchain technologies would create lucrative growth prospectus for the market over the forecast period. However, increasing use of open-source cybersecurity solutions stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cybersecurity Mesh Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of market share owing to presence of leading market players and increasing incidences of cyber-attacks in the region. Whereas Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising penetration of smartphones as well as increasing incidences of data breaches in the region.
Major market players included in this report are:
IBM Corporation
Oracle Corporation
Fortinet
Microsoft Corporation
Trend Micro
Stefanini Group
Exium
Smartz Solutions
E-SPIN
Trust Matrix
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Recent Developments in the Market:
In October 2021, Logicalis launched a new security solution named Secure on Mesh. This new on Mesh solution enables agility and innovation by transforming an organization’s security into a ‘flexible yet impenetrable fabric across the entire digital ecosystem.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type
Cloud Based
On-premises
By Application
Large Enterprises
SMEs
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
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Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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