Rise in adoption of IoT and BYOD trend, and increase in malware and phishing threats among enterprises have boosted the growth of the malware analysis market.

PORTLAND, OREGON, UNITED STATES, October 7, 2020 /EINPresswire.com/ -- The rise in adoption of IoT and BYOD trend, and increase in malware and phishing threats among enterprises have boosted the growth of the global malware analysis market. However, the complexities of device security hamper market growth. On the contrary, a surge in the adoption of mobile device applications and platforms is expected to create lucrative opportunities in the near future.

BFSI sector is expected to attain significant growth in the upcoming years, owing to high spending by the financial institutions on security solutions and growing concerns over data breaches and financial activities.

The global malware analysis market accounted for $3.27 billion in 2018, and is expected to reach $24.15 billion by 2026, growing at a CAGR of 28.5% from 2019 to 2026.

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The service segment is expected to manifest the fastest CAGR of 30.7% from 2019 to 2026, owing to the rise in need of various different services such as managed service and professional services. However, the solution segment dominated the global malware analysis market in 2018, contributing to nearly three-fourths of the market, as malware analysis solutions are less expensive and are fastest to deploy.

The global malware analysis market across North America held the largest share in 2018, accounting for nearly one-third of the market, owing to the rising competition between cloud-based service providers and the key market players in the region. However, the market across the Asia-Pacific region is projected to portray the fastest CAGR of 27.0% during the study period, due to the increasing usage of mobile data for various applications such as mobile banking and social media.

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The on-premise segment is anticipated to register the largest CAGR of 30.7% during the forecast period, owing to a rise in the adoption of these systems as it offers enhanced security features. However, the cloud segment held the largest share in 2018, contributing to more than half of the global malware analysis market, due to the different services offered by the cloud.

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The company profiles of malware analysis market players included in this report are Cisco Systems Inc., Palo Alto Networks, Inc., Sophos Group, Symantec Corporation, Kaspersky Lab, Fortinet Inc., Qualys Inc., McAfee LLC, Trend Micro, and FireEye, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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