Consumer Security Market Forecasts to 2030 - Global Analysis By Type (Software and Services), Deployment Mode (On-Premises and Cloud-Based), Application, End User and By Geography

According to Stratistics MRC, the Global Consumer Security Market is growing at a CAGR of 11.0% during the forecast period. The safeguarding of private rights, financial information, and personal information during business or service provider transactions is known as consumer security. To stop cyber risks and illegal access, it uses techniques such data encryption, identity verification, secure payment systems, and fraud detection. Implementing strong cybersecurity procedures, adhering to laws like the CCPA and GDPR, and educating customers about safe online conduct are essential in the digital world establishing trust between consumers and businesses through effective consumer security makes both online and offline marketplaces safer. It also entails educating customers about safe internet practices, such as avoiding phishing scams and using secure passwords.

According to Fortinet's Cloud Security Report last year, several cybersecurity experts were questioned about the cloud services and workloads that their companies use the most. The top of the list is made up of security services (58%), then computing (56%), storage (55%), and virtualization (53%).

Market Dynamics:

Driver:

Rising frequency and sophistication of cyberattacks

The need for sophisticated consumer security solutions has increased as a result of the rise in cyberthreats. To safeguard confidential information and uphold client confidence, businesses should make significant investments in cybersecurity defenses. The market for consumer security is predicted to grow at a CAGR of about 9% as a result of this. Businesses are improving their cybersecurity strategy as a result of customers' growing awareness of cyber risks and their expectations that strong data protection measures be provided by corporations drives the market growth.

Restraint:

Expense associated with implementing comprehensive security solutions

Small and medium-sized businesses (SMEs) may be discouraged from implementing essential security solutions due to the hefty upfront costs of modern cybersecurity measures, which include hardware, software, and maintenance. The budget of a company may also be strained if resources are allocated to cybersecurity rather than other important areas, which could impede innovation and overall corporate success.

Opportunity:

Exponential increase in connected devices

Concerns over security and privacy are growing among consumers as more gadgets connect to the internet. According to studies, a sizable portion of people have mistrust for connected devices because they think they're susceptible to data breaches and eavesdropping. With statistics indicating up to 12,000 cyberattack attempts on smart home devices in a single week, the growth of connected devices also increases the possible entry points for cyberattacks, underscoring the urgent need for improved security measures.

Threat:

Availability of free or low-cost security software

The pricing tactics of companies that offer premium security software may be undercut by free antivirus and security programs, which could result in less competition and market consolidation. Customers who think free software will suffice for their purposes may undervalue sophisticated security solutions. Real-time scanning, customer assistance, and advanced malware protection are just a few of the features that are frequently absent from free security software that are present in paid versions. Users may have a false sense of security as a result, not realizing they are not adequately protected until a breach happens.

Covid-19 Impact:

The COVID-19 pandemic has significantly impacted the consumer security market, driving heightened demand for robust cybersecurity solutions. As businesses rapidly transitioned to remote work, the need for enhanced security measures became critical, leading to increased investments in cybersecurity tools and services. Concerns over data breaches surged, with 44% of consumers feeling more at risk from cybercrime than before the pandemic. This shift has prompted organizations to prioritize cybersecurity, resulting in a projected market growth rate of approximately 9% during the forecast period as they adapt to a more perilous threat landscape.

The software segment is expected to be the largest during the forecast period

Over the forecasted timeframe, the software segment is anticipated to dominate the market share owing to the growing percentage of consumers-70% of them value items with integrated security features-are giving cybersecurity top priority when making purchases. Increased awareness and a variety of applications including as firewalls, intrusion detection systems, and antivirus software are driving this trend toward general software solutions. This variety improves the overall security posture of customers by enabling them to choose customized solutions.

The mobile device security segment is expected to have the highest CAGR during the forecast period

The mobile device security segment is projected to have the highest CAGR in the market during the extrapolated period due to mobile security apps like antivirus software and encryption tools are in high demand as a result of growing security awareness brought about by the proliferation of mobile devices. For the protection of financial and personal data, this is essential. The widespread usage of mobile devices has given rise to a variety of security solutions that are suitable for both individual users and businesses.

Region with largest share:

North America is expected to have the largest market share over the projection period due to the expansion of cyber threats' attack surface due to digital transformation in industries such as government, healthcare, and finance calls for strong cybersecurity solutions to safeguard infrastructure and sensitive data. Advanced consumer security solutions are in high demand as a result of enterprises and individuals prioritizing security measures due to the increased sophistication and frequency of cyberattacks.

Region with highest CAGR:

The Asia Pacific region is projected to achieve the highest CAGR during the forecast period owing to the rising reliance of customers on smartphones and other connected devices for daily tasks is fueling the demand for mobile security solutions. More extensive security measures are being adopted by enterprises as a result of stricter privacy and data protection laws, which is driving market expansion. Integrated security solutions are required to safeguard these networked systems against cyberattacks because the proliferation of IoT devices also results in new vulnerabilities.

Key players in the market

Some of the key players in Consumer Security Market include Avast Software, Blue Coat Systems, CipherCloud, Cisco Systems, Digital Guardian, Forcepoint, Fortinet, HP, IBM, McAfee, Microsoft, NortonLifeLock Inc, Panda Security, RSA Security, SafeNet , Trend Micro, Trustwave and WatchGuard Technologies.

Key Developments:

In October 2024, The NFL and Cisco have announced that the league is now leveraging Cisco's industry-leading enterprise networking and cybersecurity solutions to connect and protect the 2024 NFL International Games and the 2025 NFL Madrid Game.

In September 2024, IBM announced the completion of its latest expansion of the IBM Quantum Data Center in Poughkeepsie, New York, which operates the highest number of available utility-scale quantum computers at a single location in the world.

In July 2024, Cisco, the announced the signing of a Memorandum of Understanding (MOU) to pilot 5G and AI technologies to enhance Singapore's homeland security. These projects aim to empower the Home Team to address evolving threats to public safety in Singapore.

Types Covered:

• Software
• Services

Deployment Modes Covered:

• On-Premises
• Cloud-Based

Applications Covered:

• Online Protection
• Parental Controls
• Mobile Device Security
• Financial & Transactional Security
• Remote Device Management
• Other Applications

End Users Covered:

• Individual Users
• Families/Households
• Home Offices
• Small & Medium-Sized Enterprises (SMEs)
• Educational Institutions
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances