The world has been significantly impacted by the COVID-19 pandemic, which has led to an increase in the demand for stronger cybersecurity measures. With the rise in remote work and online business, cybercrime has been on the rise. Despite this, the significant increase in cybersecurity investments in 2021 resulted in a decrease in cybercrime in 2022.

Hamburg, Germany. The COVID-19 pandemic has highlighted the importance of strong cybersecurity measures to safeguard against digital threats. With the shift towards remote work and increased reliance on digital communication, the need for cybersecurity has become more pressing. Cloud security has emerged as the fastest growing subsegment in the cybersecurity market, reflecting the growing demand for businesses to secure their data.

The COVID-19 pandemic has transformed the way cybersecurity measures are perceived and implemented. This has led to a comprehensive review of cybersecurity measures and efforts towards digital transformation. As a result, there has been a notable decrease in the total number of cyberattacks in 2022, although phishing remains the most common type of cyberattack, accounting for over 50% of all incidents, as researchers from Statista Technology Market Insights determined.

“Global cybersecurity revenue has been on the rise, with North America dominating the market. In 2022, North America generated revenue of $68 billion. In 2023, the global cybersecurity market is expected to reach a total revenue of US$162 billion, with Security Services being the largest segment, representing approximately 53% of worldwide revenues at about US$86 billion. The United States will generate the highest revenue in the cybersecurity market in 2023 with US$69 billion, followed by China with US$14 billion and the United Kingdom with about US$10 billion”, explains Phuong-Ha Nguyen, analyst at Statista and a specialist in the field of cybercrime.

The adoption of cybersecurity systems is no longer just an IT department task but a key component of strategic planning. Cybersecurity involves safeguarding computer systems, networks, programs, and data from digital attacks and disruptions to maintain confidentiality, integrity, availability, and privacy. Businesses must recognize the importance of cybersecurity and take appropriate steps to protect their systems, data, and employees from the potential risks of cyberattacks. By doing so, they can ensure that they are able to operate effectively and safely in an increasingly digital world. 

To access more information about cybersecurity, one may refer to Technology Market Insights on statista.com or the Statista Market Outlook Cybersecurity - Market data analysis & forecasts 2023 report. The report offers a thorough analysis of the cybersecurity market, covering aspects such as market revenues, growth potential, market drivers, key players, and future trends. Additionally, the Technology Market Outlook report breaks down the cybersecurity market into security services and cyber solutions.

__

Statista is one of the world’s leading data and business intelligence platforms, empowering people worldwide to make fact-based decisions. Statista.com is the premier destination for statistics & reports, market, consumer, and company insights, providing direct access to data, analysis, and trends on 80,000 topics from 22,500 sources across more than 180 industries. Founded in 2007 in Germany, Statista now employs around 1,400 people in 14 locations worldwide.