Information Security Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 70.63 Billion |
| Market Size (2029) | USD 83.29 Billion |
| CAGR (2024 - 2029) | 3.35 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Information Security Market Analysis
The Information Security Market size is estimated at USD 70.63 billion in 2024, and is expected to reach USD 83.29 billion by 2029, at a CAGR of 3.35% during the forecast period (2024-2029).
- Information Security (InfoSec) is an ever-evolving domain encompassing diverse areas, from network and infrastructure security to rigorous testing and auditing. Its primary mission is to shield sensitive data from unauthorized actions, be it inspection, modification, recording, or any form of disruption or destruction. This vigilance ensures the protection and privacy of vital information, including customer account details, financial records, and intellectual property.
- Many individuals, while engaging on social media, inadvertently disclose a wealth of personal information. Attackers can exploit these platforms, either by directly disseminating malware through social media messages or indirectly, by analyzing the information shared to identify vulnerabilities in users and organizations, crafting tailored attacks. In such scenarios, Information Security serves as a formidable shield.
- As wireless technology advances, there's a notable enhancement in wireless hardware components. This evolution meets the rising demand for physical security measures, like wireless locks and controllers, in access control systems. Such advancements not only reduce reliance on physical cables and conduits but also streamline the adoption of cloud technology services. This shift diminishes the need for traditional servers and software, cuts down on the time and costs associated with installing physical devices, and promotes secure remote access.
- Furthermore, InfoSec plays a pivotal role in the development of smart cities. Leveraging Internet of Things (IoT) platforms, these cities monitor infrastructures and manage essential services, such as traffic flow and parking. The smart data generated aids in long-term planning, emphasizing environmental sustainability. Consequently, these innovative city initiatives, with their focus on community safety, present vast opportunities for vendors in the market.
- Organizations, often constrained by tight security budgets, face significant risks from business components like mobility, web applications, and social media if not managed properly. Economic limitations and insufficient resources for deploying effective security solutions could dampen the demand for InfoSec services in the coming years.
- As global markets gradually reopen post-pandemic, many organizations are adopting information security management solutions. These solutions safeguard, integrate, and correlate data from various sensors and third-party applications, offering a unified view of incidents to aid decision-making. This trend is poised to bolster the growth of the InfoSec market.
Information Security Market Trends
IoT Devices to Hold Significant Market Growth
- Securing IoT devices is crucial to prevent them from becoming entry points for network threats. Any device connected to the Internet is susceptible to attacks. Cybercriminals can remotely compromise these devices through various means, including credential theft and exploiting vulnerabilities.
- Unlike the advanced operating systems on computers, most IoT firmware lacks robust security measures. Furthermore, many of these firmware systems harbor known vulnerabilities, some of which are unpatchable, leaving them susceptible to targeted attacks.
- Vendors are prioritizing product innovation, integrating cutting-edge technological features into their security software platforms for enhanced performance and support, thereby solidifying their market position. In a notable move, Hexagon AB, known for its corporate incident management and physical security software solutions, has acquired Qognify. Qognify specializes in merging physical security with digital reality solutions, utilizing sensors, software, and autonomous technologies, catering to diverse sectors from utility networks and educational institutions to advanced industrial facilities.
- The rise of cloud-based solutions has transformed business operations. As more businesses adopt these solutions, they're reshaping their operating models, notably by cutting infrastructure costs. Leveraging cloud technologies allows companies to focus on core competencies while effectively managing security challenges. Consequently, many enterprises have ramped up capital expenditures on cloud solutions, especially with the rise of IoT adoption.
- As organizations increasingly embrace cloud computing, automation, and integrated business processes, the demand for cohesive solutions is set to surge. For example, in February 2022, TUCHWARE, a company specializing in IoT-driven physical security and surveillance, launched its XS smart lock series, a technologically advanced lock featuring cloud computing capabilities.
North America to Hold Significant Share
- North America is witnessing a significant surge in demand for information security, especially in the realm of cybersecurity. This uptick is largely attributed to rising cyber threats, stringent regulatory mandates, and a sweeping digital transformation across diverse sectors.
- Cyberattacks in North America are becoming more frequent and sophisticated. In 2023, ransomware incidents impacted 66% of organizations, underscoring the urgent need for enhanced cybersecurity measures across all industries.
- Stringent regulations like HIPAA and GDPR, which emphasize safeguarding sensitive data, are compelling organizations to invest in cybersecurity solutions. The intricate nature of compliance management further fuels this investment.
- In the U.S., the rising focus on infrastructure automation is catching the eye of Physical Security Information Management (PSIM) providers. Numerous vendors are now offering PSIM solutions that seamlessly integrate with a range of systems, including surveillance, Building Management Systems (BMS), Heating, Ventilation, and Air Conditioning (HVAC), energy management, and estate monitoring.
- For instance, Visual Management Systems Ltd offers Titan Vision PSIM that integrates CCTV, access control, fire and safety, perimeter intrusion protection, GIS mapping, and other information networks, such as Command and Control systems, Telephony and Radio Networks, as well as BMS, HVAC, and other monitoring systems. Owing to this, in the future, it is anticipated that the Information Security market will take a turn toward the trend of offering a unified solution.
Information Security Industry Overview
The Information Security market is highly competitive and fragmented, primarily driven by the presence of major players. These key players employ strategies such as mergers, acquisitions, and product innovations to maintain a competitive edge and broaden their global footprint. Key player include Aventura Technologies, Inc., Bold Technologies, Inc., IPVideo Corporation and others.
The demand for information security solutions is on a significant upward trajectory, driven by increasing cyber threats, regulatory requirements, and ongoing digital transformation efforts. As organizations prioritize protecting their data and infrastructure, investments in cybersecurity are expected to continue growing, presenting opportunities for providers in this critical sector.
Information Security Market Leaders
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Aventura Technologies, Inc.
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Bold Technologies, Inc.
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IPVideo Corporation
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SureView Systems
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Everbridge, Inc.
*Disclaimer: Major Players sorted in no particular order
Information Security Market News
- October 2024: Saviynt, a leading provider of cloud-native identity and governance platform solutions, has announced the launch of its highly anticipated Intelligence Suite, which includes the general availability of Intelligent Recommendations. This new offering promises to revolutionize identity security with its advanced features, including dynamic role management, tailored access recommendations, actionable insights, and a multi-dimensional weighted trust scoring model.
- September 2024: Panasonic Automotive Systems Co., Ltd. (“Panasonic Automotive Systems”) has developed VERZEUSE for SIRT (Security Incident Response Team) to analyze the security risks of vulnerabilities in vehicle software after shipment, in collaboration with Panasonic Holdings Corporation.
Information Security Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of macroeconomic trends
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Expanding Digitization of Businesses Accelerate the Demand for the Info-Sec
5.1.2 Stringent Regulatory Compliance
5.2 Market Restraints
5.2.1 Shortage of Skilled Professionals
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Solutions
6.1.1.1 PSIM
6.1.1.2 PSIM+
6.1.1.3 PSIM Lite
6.1.2 Services
6.2 By Deployment
6.2.1 Cloud
6.2.2 On-Premises
6.3 By Enterprises
6.3.1 SMEs
6.3.2 Large Enterprises
6.4 By End-users
6.4.1 BFSI
6.4.2 IT and Telecom
6.4.3 Healthcare
6.4.4 Retail and Ecommerce
6.4.5 Government
6.4.6 Other End-users
6.5 By Geography***
6.5.1 North America
6.5.2 Europe
6.5.3 Asia
6.5.4 Latin America
6.5.5 Middle East and Africa
6.5.6 Australia and New Zealand
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Aventura Technologies, Inc.
7.1.2 Bold Technologies, Inc.
7.1.3 IPVideo Corporation
7.1.4 SureView Systems
7.1.5 Everbridge, Inc.
7.1.6 Advancis Software & Services GmbH
7.1.7 AlertEnterprise, Inc.
7.1.8 Genetec Inc.
7.1.9 Nanodems, LLC
7.1.10 Primion Technology AG
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
Information Security Industry Segmentation
Information security (InfoSec) covers the tools and processes that organizations use to protect information. This includes policy settings that prevent unauthorized people from accessing business or personal information.
The information security market is segmented by type (solution, services), by deployment (cloud, on-premises), by enterprises (SMEs, large enterprises), by end-user (BFSI, IT and telecom, healthcare, retail and ecommerce, government, other end-users), by geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | |||||
| |||||
| Services |
| By Deployment | |
| Cloud | |
| On-Premises |
| By Enterprises | |
| SMEs | |
| Large Enterprises |
| By End-users | |
| BFSI | |
| IT and Telecom | |
| Healthcare | |
| Retail and Ecommerce | |
| Government | |
| Other End-users |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Latin America | |
| Middle East and Africa | |
| Australia and New Zealand |
Information Security Market Research FAQs
How big is the Information Security Market?
The Information Security Market size is expected to reach USD 70.63 billion in 2024 and grow at a CAGR of 3.35% to reach USD 83.29 billion by 2029.
What is the current Information Security Market size?
In 2024, the Information Security Market size is expected to reach USD 70.63 billion.
Who are the key players in Information Security Market?
Aventura Technologies, Inc., Bold Technologies, Inc., IPVideo Corporation, SureView Systems and Everbridge, Inc. are the major companies operating in the Information Security Market.
Which is the fastest growing region in Information Security Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Information Security Market?
In 2024, the North America accounts for the largest market share in Information Security Market.
What years does this Information Security Market cover, and what was the market size in 2023?
In 2023, the Information Security Market size was estimated at USD 68.26 billion. The report covers the Information Security Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Information Security Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Information Security Industry Report
Statistics for the 2024 Information Security market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Information Security analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
