Cyber Security as a Service Market size was over USD 18.08 billion in 2024 and is anticipated to cross USD 120.37 billion by 2037, witnessing more than 15.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of cyber security as a service is estimated at USD 20.35 billion.
The growth of the market can be attributed to the increasing instant of massive cyber-attack. According to the FBI, the number of complaints regarding ransomware reported to IC3 increased by 82% between 2019 to 2021, globally.
In addition to these, factors that are believed to fuel the market growth of cyber security as a service include the rise in malware and phishing threats among enterprises which has brought the privacy of the organization under menace. Three attackers broke into Twitter in July 2020 and took control of well-known Twitter accounts. They employed social engineering tactics to steal employee passwords and access the business' internal management systems, which were ultimately labeled as phishing attempts by Twitter (phone phishing). Furthermore, a rise in the adoption of mobile phones is anticipated to boost the market trend.
Author Credits: Abhishek Verma
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