Covid 19 has led to a sharp rise in the adoption of technology, which has led to a significant increase in cyber security awareness. However, this is not even 10% of the actual potential that exists in this industry. The market continues to grow at over 8% every year, reflecting industries' rising spending on cyber security. As per Strategic Market Research, the cyber security market is worth over $200 billion in 2022 and will reach $470 billion by 2030

In the present scenario, cyber security accounts for around 7% of the IT industry’s annual spend. This will exceed 10% in the next five years, reaching a market size of over $60 billion by 2027. Hybrid working and work from home culture is one of the key drivers of this market growth. Currently, over 70% of the software companies in the United States (surveyed by Strategic Market Research) say that they will increase their cyber security spend in the near future.