- Rise in adoption of IoT and BYOD trend, and increase in malware and phishing threats among enterprises have boosted the growth of the global malware analysis market
PORTLAND, Oregon, Feb. 17, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Malware Analysis Market by Component (Solution and Services), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprises and Small & Medium Enterprises), Industry Vertical (Aerospace & Defense, BFSI, Public Sector, Retail, Healthcare, IT & Telecom, Energy & Utilities, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026". According to the report, the global malware analysis market accounted for $3.27 billion in 2018, and is expected to reach $24.15 billion by 2026, growing at a CAGR of 28.5% from 2019 to 2026.
Chief reasons for market fluctuations
Rise in adoption of IoT and BYOD trend, and increase in malware and phishing threats among enterprises have boosted the growth of the global malware analysis market. However, the complexities of device security hamper the market growth. On the contrary, surge in adoption of mobile device applications and platforms is expected to create lucrative opportunities in the near future.
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The service segment to portray the largest CAGR through 2026
The service segment is expected to manifest the fastest CAGR of 30.7% from 2019 to 2026, owing to rise in need of various different services such as managed service and professional services. However, the solution segment dominated the global malware analysis market in 2018, contributing to nearly three-fourths of the market, as malware analysis solutions are less expensive and are fastest to deploy.
The on-premise segment to manifest rapid growth
The on-premise segment is anticipated to register the largest CAGR of 30.7% during the forecast period, owing to rise in adoption of these systems as it offers enhanced security features. However, the cloud segment held the largest share in 2018, contributing to more than half of the global malware analysis market, due to the different services offered by the cloud.
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North America held the lion's share
The global malware analysis market across North America held the largest share in 2018, accounting for nearly one-third of the market, owing to the rising competition between cloud-based service providers and the key market players in the region. However, the market across the Asia-Pacific region is projected to portray the fastest CAGR of 27.0% during the study period, due to increasing usage of mobile data for various applications such as mobile banking and social media.
Major market players
- Cisco Systems Inc.
- Sophos Group
- Palo Alto Networks Inc.
- Kaspersky Lab
- Symantec Corporation
- Qualys Inc.
- Fortinet Inc.
- Trend Micro
- McAfee LLC
- FireEye Inc.
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