International. Security software revenue will reach $45.5 billion in 2021, which would mean a 20% increase over the past two years, according to data presented by StockApps.com.
The digital transformation accelerated by the pandemic and the increasing number of data breaches and cyberattacks has forced users, businesses and online organizations to increase their spending on security software solutions.
Revenue will exceed $61 billion by 2025
The security software market includes all software solutions that aim to protect individual computing devices, networks, or any other computing-enabled devices. It includes antivirus software, access management, data protection, and security against intrusions and any other system-level security risks, both on-premises and in the cloud service.
Recent years have witnessed a massive adoption of these solutions, driven by the rise of e-commerce, major technological developments including AI and IoT, and the growing number of connected devices.
In 2016, the entire market was worth $27 billion, Statista's survey revealed. Over the next two years, revenue rose more than 40 percent to $38.1 billion.
The entire market maintained its steady growth amid the COVID-19 pandemic, with millions of people working and educating from home. The TrustRadius 2020 survey of software buyers and users revealed that 41% of organizations increased their spending on security software amid the pandemic.
Statistics show that market revenue increased 7% year-over-year to $41 billion in 2020. This figure is expected to increase by US$4 billion in 2021. However, the following years will witness an increase in the adoption of software security solutions with revenues rising to more than $61 billion by 2025.
The United States will generate 50% of global revenue
In global comparison, the United States represents the leading security software market that is expected to generate $22.8 billion, or 50% of revenue this year. Statista data indicates that U.S. security software revenue increased 20% over the past two years, while the unified market will reach a value of $30.5 billion by 2025.
With $2.3 billion in revenue or nearly ten times less than the U.S. leader, Germany ranked as the world's second-largest security software market. The United Kingdom, Japan and China follow with $2.2 billion, $2.1 billion and $1.9 billion in revenue, respectively.
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