Retail Cybersecurity Market Analysis

Retail Cybersecurity Market Analysis

To get key market trends

  Download Free Sample

The network security segment accounted for 31% of the retail cybersecurity market share in 2022. Threat detection tools are playing a pivotal role in propelling the network security segment growth. With the rising complexity of cyber threats, retailers are adopting advanced threat detection solutions that continuously monitor network activities for anomalous behavior, unauthorized access, and potential breaches.
 

For instance, in March 2023, Dell Technologies introduced fresh threat detection tools and services, enhancing its security portfolio to assist customers grappling with heightened challenges. Due to the critical need to protect customer data and operational integrity, the integration of robust threat detection tools has become a fundamental driver in enhancing network security in the retail sector.
 

The large enterprises segment held over 67% of the retail cybersecurity market share in 2022, due to their extensive resources and capabilities. Their capital allows significant investments in comprehensive cybersecurity solutions, enabling them to deploy advanced technologies and build robust defense mechanisms against cyber threats. Additionally, the broader operational scale and greater data volumes make cybersecurity a critical priority to protect customer trust and business continuity. As a result, large enterprises wield a substantial market share in the retail cybersecurity sector.
 

North America retail cybersecurity market with a major share of over 39% in 2022. Collaborations between cybersecurity solution providers, technology vendors, and retail businesses are enabling the development & delivery of innovative security solutions tailored to the region's specific needs. For instance, in August 2023, TD Synnex became a part of the Gigamon Catalyst Partner Program, responding to the need for comprehensive observability solutions that empower enterprise IT teams to effectively oversee and safeguard hybrid cloud infrastructure. These partnerships leverage the collective expertise, resources, and technologies to effectively address evolving cyber threats, thereby fueling the market size.