Cyber Security Market Worth $266.2 Billion, Growing At A Cagr Of 8.9%: Report By Marketsandmarkets™

The global Cyber Security Market size is expected to grow from an estimated value of USD 173.5 billion in 2022 to USD 266.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 8.9%. Growing adoption of IoT security solutions, adoption of cloud-based cyber security solutions, and increased BYOD trends are some factors which are driving the cyber security market growth. Artificial intelligence (AI) and machine learning (ML) have become indispensable technologies for addressing the complexity and volume of cyber security threats that are constantly increasing. The Internet of Things (IoT) aims for seamless connectivity where gadgets continually change how we work and live, and it is also a key trend in the cyber security market.