PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1702429
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1702429
The U.S. cybersecurity market, valued at $82.4 billion in 2024, is projected to grow at a CAGR of 9.2%, reaching $165.1 billion by 2032. This growth is driven by increasing cyberattacks, data breaches, and the rise in digitization. The surge in remote work and the adoption of Bring Your Own Device (BYOD) policies have further heightened the demand for robust cybersecurity solutions. Advances in AI and machine learning are also shaping the market, helping businesses detect and respond to cyber threats more effectively while also being exploited by cybercriminals to launch sophisticated attacks.
Key Insights
Solutions dominate the market, accounting for 60% of revenue in 2024, with high demand for identity management, data loss prevention, and firewall solutions.
Services are the fastest-growing segment, driven by the need for managed services like endpoint detection, threat monitoring, and risk management.
Network security is the largest security type segment, reflecting the critical role of protecting networks from cyber threats.
Cloud security is the fastest-growing category, driven by the widespread adoption of cloud services, with companies seeking to protect their cloud-based data.
The West region leads the market, while the South is the fastest-growing due to increasing cybersecurity needs across diverse industries.