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The global cyber wellness services market was valued at USD 10 billion in 2023 and grew at a CAGR of 12% from 2024 to 2033. The market is expected to reach USD 31.05 billion by 2033. The growing risk of cyberattacks will drive the growth of the global cyber wellness services market.
Cyber wellness services are intended to prevent or minimize detrimental effects of technology/ internet. These services cover a broad spectrum of solutions aimed towards informing the users about the safety measures they should employ to stay safe on the internet while using. Parental control and monitoring features are some of the common examples of cyber wellness services that allow adults to monitor and control what the young toddlers or children watch, thereby adding a layer of safety. These services also include educational and awareness campaigns that impart knowledge and offer necessary training for users enabling them with the skills to protect themselves in the virtual space or on the internet. These services also include compliance services that assist organizations with the establishment and execution of cybersecurity policies, thereby simplifying compliance. Cyber wellness services play a key role in arming the users with adequate knowledge and equipment that protects and safeguards their interests online and prevents exploitation. Cyber wellness services are designed to foster safe and responsible use of technology and the internet.
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The increasing incidence of cyberattacks – the rising incidence and prevalence of ransomware, malware, and phishing attacks, there is need to advance the cybersecurity solutions. additionally, these threats are becoming organized and advanced in techniques, which necessitates the need to reform countermeasures. The rising ownership of smart connected devices have increased the risk and vulnerability of users or consumers. the growing concerns of cyber threats to both private and public entities and business have increased the need and demand for cyber wellness services. The increasing incidence of these cases have raised awareness about the importance of cyber wellness services amongst the average consumers. The evolving nature of threats also highlights the importance of robust cybersecurity or cyber wellness measures. therefore, the increasing incidence of cyberattacks or cyberthreats will drive the demand for cyber wellness services and contribute towards the market’s growth and development.
Lack of capital and personnel – Cost factors and lack of skilled professionals to execute the cyber wellness services will hamper the market’s growth. implementing cyber wellness services requires a considerable amount of money. The significant capital investments make it unaffordable and thereby inaccessible to small and medium business enterprises with limited budget outlays. The costs highlight the expenses on the purchase of new generation anti-malware software and application, awareness programs through training and education, policy and regulatory compliance services, upkeep, maintenance and regular upgrades among others. Such costs are often expensive and thereby limit the market’s growth. Lack of skilled workforce further exacerbates this as it limits the adoption of cyber wellness services.
Regulatory and compliance framework – stringent regulatory measures aimed towards safeguarding the interests of users and other data encourage organizations to employ effective measures to meet these compliance standards to avoid paying considerable penalties. similarly, significant efforts from the government and non-profit organizations to promote digital literacy and cyber wellness through awareness and educational campaigns also promote the market’s growth.
The regions analysed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global cyber wellness services market, with a 37% market revenue share in 2023.
The region has a well-established IT industry which allows the use of complex cybersecurity measures. it also facilitates faster deployment of these measures. A number of incidents involving many large-scale companies and governmental organizations in the recent past has increased government vigilance to protect national interest. this has led to robust measures and dedicated efforts towards shoring up cyber wellness services. stringent regulatory framework also contributes to the regional market’s growth. Furthermore, a large number of cybersecurity firms, research organizations, and professional in North America facilitate the proactive development and innovation of cyber wellness products and services.
North America Region Cyber Wellness Services Market Share in 2023 - 37%
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The services segment is divided into professional services and managed services. The managed services segment dominated the market, with a market share of around 56% in 2023. Managed surveillance offers round the clock services with real-time responses and proactive threat assessment and management. Managed services offer subscription-based models which have reasonable packages making them a cost-effective choice. managed services are scalable and flexible making it easier for them to meet the new demands of the organizations. They offer services according to the needs and demands of users. Managed services usually come with an extensive range of service offering such as the protection against threats, handling of security incidents, and compliance services, providing a convenient solution for the users. In addition to this, the shortage of skilled personnel in the cybersecurity sector makes managed service providers a viable proposition because it eliminates the need of hiring in-house personnel or a cybersecurity team. The dynamic nature of cyber-threats makes managed services the ideal option as they have the necessary expertise to deal with it.
The deployment segment is divided into on-premises and cloud. The cloud segment dominated the market, with a market share of around 58% in 2023. Cloud is flexible and scalable without significant additional costs or infrastructural requirements. Cloud deployment is cost-effective and can be upgraded and downgraded according to business without significant downtime. They offer several features that can be customized according to the businesses. upgrades and integration of the latest technologies is easier, faster and cheaper. Cloud also features automatic updates and maintenance. They are safer, remotely accessible and user-friendly. most cloud solution providers also provide stronger security options like data encryption, two-factor authentication, and security management, which boosts the general security measures making it more secure.
The end user industry segment is divided into IT and telecommunication, BFSI, retail and e-commerce, oil, gas and energy, manufacturing, government and defence, and others. The BFSI segment dominated the market, with a market share of around 35% in 2023. BFSI or banking, financial services, and insurance sector is the largest consumer of cyber wellness services since the nature of industry necessitates protection of information that is highly sensitive in nature. The industry is also subject to stringent regulations and hence needs to comply with these rules to avoid penalties and other similar actions. The sector handles personal and financial information highlighting the vulnerability of the industry to cyber-attacks as most attacks are executed for financial gains. The need to earn and retain customer trust is crucial for business in the industry and therefore companies adopt robust security measures to protect consumer interests and brand reputation.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2023 | USD 10 Billion |
| Market size value in 2033 | USD 31.05 Billion |
| CAGR (2024 to 2033) | 12% |
| Historical data | 2020-2022 |
| Base Year | 2023 |
| Forecast | 2024-2033 |
| Region | The regions analysed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analysed at the country level. |
| Segments | Services, Deployment and End User Industry |
As per The Brainy Insights, the size of the global cyber wellness services market was valued at USD 10 billion in 2023 to USD 31.05 billion by 2033.
Global cyber wellness services market is growing at a CAGR of 12% during the forecast period 2024-2033.
The market's growth will be influenced by the increasing incidence of cyberattacks.
Lack of capital and personnel could hamper the market growth.
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global cyber wellness services market based on below mentioned segments:
Global Cyber Wellness Services Market by Services:
Global Cyber Wellness Services Market by Deployment:
Global Cyber Wellness Services Market by End User Industry:
Global Cyber Wellness Services Market by Region:
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