The global addressable market for cybersecurity could potentially be as much as $2 trillion, tenfold more than the current vended market. Fueling this growth, partner Justin Greis and coauthors explain, are segments such as security consulting and cloud security. As cybersecurity threats continue to evolve and become more sophisticated, organizations are increasingly investing in solutions to protect their data and systems.
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A pair of vertical stacked bar charts depict the global cybersecurity market value in 2024, comparing the global vended market with the global total addressable market across various cybersecurity segments. The global vended market, represented by the left bar, totals just under $250 billion. Security consulting makes up the largest portion of this market, followed by managed security service providers outsourcing and security operations and management. The global total addressable market, depicted in the right bar, is projected to reach nearly $2 trillion. This represents a tenfold increase from the vended market.
Source: McKinsey Cyber Market Map, 2024.
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To read the article, see “The cybersecurity provider’s next opportunity: Making AI safer,” November 14, 2024.