A new study from Juniper Research has found the value of enterprise cybersecurity spend will exceed $226 billion in 2027; up from $179 billion in 2022.
This growth of 26% over the next 5 years reflects the increasing maturity of the cybersecurity market, which continues to evolve as new threats emerge. The report identified a rising awareness of vulnerabilities, alongside emerging threats, including ransomware and DDoS (Distributed Denial of Service) as key drivers behind the increasing spend.
AWS & IBM Ranked as Leading Cybersecurity Providers in Competitor Leaderboard
Juniper Research’s Competitor Leaderboard for the cybersecurity market identified the 5 leading market vendors as follows:
1. AWS
2. IBM
3. Cisco
4. Oracle
5. Sophos
Research co-author Damla Sat explained: “Cloud computing has been transformative for businesses, so it is no surprise that two of the biggest Cloud computing vendors, AWS and IBM, also lead in the cybersecurity space. For Cloud vendors, effective cybersecurity is a basic requirement – by offering in‑house cybersecurity solutions, AWS & IBM are capitalising on their existing large user bases; acquiring businesses & capabilities as needed to enhance their product offerings.”
The new research, Cybersecurity: Key Trends, Competitor Leaderboard and Market Forecasts 2022-2027, found remote working & Cloud computing being implemented by businesses, from small to multinational, which increases attack vectors available to cybercriminals. The report identified machine learning as a key requirement within cybersecurity solutions; improving response times & combatting evolving tactics of cybercriminals. In response, cybersecurity vendors must form strategic partnerships with smaller, specialized cybersecurity vendors to acquire new data sources & point solutions, & offer services, such as unified threat management, in order to maintain relevance in this highly competitive market.
