Cybersecurity Revenue by Segment
(In Billions of USD)
273.5
248.1
223.9
202.3
183.14
166.2
150.16
139.9
121.9
115.2
102.7
89.72
83.32
2016
2017
2018
2019
2020
2021
2022
2023
2024E
2025F
2026F
2027F
2028F
Cyber Solutions Security Services
• The global cybersecurity market is experiencing explosive growth and is estimated to reach $274 billion by 2028. Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 10.6% . • The cost of cybercrime to reach a staggering $10.5 trillion globally by 2025, Cybersecurity Ventures predicts. The average spend per employee in cybersecurity is projected to reach $52.2 in 2024.
• The imperative to protect increasingly digitized businesses, IoT devices, and consumers from cybercrime will propel global spending on cybersecurity products and services to $1.8 trillion cumulatively for the five-year period from 2021 to 2025. • Rapid growth in the use of decentralized finance (DeFi) services is creating a new soft spot for global financial systems, fostering new methods of crypto crime. Cybersecurity Ventures predicts “rug pulls” and other attacks will cost the world $30 billion in 2025 alone.
Source: Statista Market Insights, Cybersecurity Ventures, World Economic Forum
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