Healthcare Cyber Security Market Expected to Reach USD 57.25 Billion by 2030| Top Players such as – Cisco, IBM & FireEye
The rapidly increasing number of data breaches in the healthcare industry is driving the demand for cyber healthcare security
PORTLAND, PORTLAND, OR, UNITED STATE, March 8, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Healthcare Cyber Security Market Expected to Reach USD 57.25 Billion by 2030| Top Players such as – Cisco, IBM & FireEye.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global healthcare cyber security market was valued at USD 12.85 billion in 2020, and is projected to reach USD 57.25 billion by 2030, growing at a CAGR of 16.3% from 2021 to 2030.
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Rise in cyber-attacks, increase in demand for cloud services, and regulatory requirements & government policies facilitate the market growth. However, scarcity of trained professionals restrains the growth in the market. On the other hand, requirement for strong methods of authentication and rise in adoption for mobile device applications create new opportunities in the industry.
The healthcare cyber security size is segmented on the basis of component, security type, and region. On the basis of component, the industry is bifurcated into solutions and services. Depending on security type, the market is classified into network security, application security, device security, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Network security accounted for nearly half of the total market share in 2017 and will maintain its dominance throughout the forecast period. This is due to need for protection of networks from viruses, hackers, service attacks, and others along with deployment of network security solutions such as access control solutions and DDoS mitigation solutions to ensure protection.
Based on type, the solution segment contributed to more than half of the total market share in 2017, and is expected to maintain its dominant share throughout the forecast period. This is due to increase in number of cyber-attacks, rise in incidence of data breach worldwide, and amendments made in government regulations related to healthcare cyber security.
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North America contributed to nearly half of the total market share in 2017 and will maintain its leadership status by 2023. This is due to amendments in current cyber security laws and rise in number of cyber-attacks leading to adoption of security measures. However, Asia-Pacific is expected to register the highest growth rate, with a CAGR of 18.3% from 2017 to 2023, owing to surge in awareness about security measures among healthcare organizations and rise in spending of end users on enhanced cyber security solutions and services.
Leading market players analyzed in the research include Cisco Systems, Inc., IBM Corporation, FireEye, Inc., Lockheed Martin Corporation, Kaspersky Lab, Northrop Grumma Corporation, MacAfee, Inc., Sensato, Palo Alto Networks, Inc., and Symantec Corporation.
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KEY FINDINGS OF THE STUDY
● By component, the solution segment accounted for the largest healthcare cyber security market share in 2020.
● By region, North America generated highest revenue in 2020.
● By security type, the network security segment generated the highest revenue in 2020.
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