Regulations and growing number of hack attacks will drive the growth to of the cybersecurity market considerably in the next five years, according to a
new report.
The ResearchAndMarkets researchers expect that the market will grow at a compound annual growth rate of 8% in the next five years, meaning the market size will grow from $31.65m in 2020 to $46.42m in 2025.
The managed identity and access management is expected to grow particularly well during this period, according to the researchers as more companies are likely to integrate the solutions into their infrastructures.
Looking at the potential clients using the solutions, the researchers noted that the banking, financial, services, and insurance companies are most likely to dominate the market with the largest market size. That being said, the healthcare vertical was estimated to be the fastest-growing vertical during the forecast period.
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