Customer Information System Market
What Is the Forecasted Market Size and Growth Rate for the Digital Security Control Market?
The digital security control market is set to grow from $17.4 billion in 2024 to $19.68 billion in 2025, at a CAGR of 13.1%. The growth is driven by the increasing reliance on digital technologies, cyber-attacks, the proliferation of IoT devices, and the rising need for information security due to globalization and digital transactions.
The digital security control market is expected to experience substantial growth in the next few years, reaching $31.89 billion by 2029 with a compound annual growth rate (CAGR) of 12.8%. This growth can be attributed to the increasing reliance on digital technologies, escalating cyber threats, advancements in authentication and encryption, deeper integration of security solutions with cloud and mobile platforms, and a stronger emphasis on information security and privacy regulations. Key trends in this period include multi-factor authentication, enhanced mobile security and telecommunications, integration of security solutions, and new investments in the digital security sector.
What Factors Are Propelling the Expansion of the Digital Security Control Market?
The increasing cyber threats are expected to drive the growth of the digital security control market. As cyberattacks and malicious activities grow more sophisticated, organizations are increasingly adopting digital security controls to protect their digital assets. In Q2 2024, a 30% increase in weekly cyberattacks on corporate networks was reported compared to the same period in 2023. With companies facing an average of 1,636 attacks each week, the need for robust digital security systems is essential to mitigate these threats.
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Which Businesses Are at the Forefront of Digital Security Control Market Development?
Major companies operating in the digital security control market are Microsoft Corporation, Cisco Systems Inc., 3M Company, NEC Corporation, Palo Alto Networks, Gemalto NV, Morpho S.A.S, McAfee Corporation, Trend Micro Inc, CrowdStrike, HID Global Corporation, Bundesdruckerei GmbH, RSA Security LLC, Rapid7, CyberArk, Fireeye Inc, Vasco Data Security International Inc, Safenet Inc., Watchdata Technologies, Secura Key, CardLogix Corporation, Oberthur Technologies, IntelCav, Alioth LLC
How Is the Digital Security Control Market Segmented?
The digital security control market covered in this report is segmented –
1) By Service: Two-Factor Authentication, Three-Factor Authentication, Four-Factor Authentication
2) By Hardware: Smart Card, Sim Card (Subscriber Identity Module), Biometric Technologies, Security Token
3) By Software: Anti-Phishing, Authentication, Network Surveillance, Security Management, Web Technologies
4) By Application: Mobile Security And Telecommunication, Finance And Banking, Healthcare, Commercial
Subsegments:
1) By Two-Factor Authentication (2FA): SMS-Based Authentication, Email-Based Authentication, Time-Based One-Time Passwords (TOTP), Hardware Tokens
2) By Three-Factor Authentication (3FA): Biometric Verification, Knowledge-Based Authentication, Location-Based Authentication
3) By Four-Factor Authentication (4FA): Behavioral Biometrics, Device Recognition, IP Address Verification, Additional Knowledge Factors
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Where Is the Digital Security Control Market Growth Most Prominent?
North America was the largest region in the digital security control market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital security control market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Digital Security Control Global Market Report?
– Market Size Analysis: Analyze the Digital Security Control Market size by key regions, countries, product types, and applications.
– Market Segmentation Analysis: Identify various subsegments within the Digital Security Control Market for effective categorization.
– Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
– Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
– Market Contribution: Evaluate contributions of different segments to the overall Digital Security Control Market growth.
– Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
– Industry Challenges: Analyze challenges and risks affecting the Digital Security Control Market.
– Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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