Antivirus Software Market Overview:
The Antivirus Software market is projected to grow from USD4.4444 Billion in 2023 to USD 8.47319881 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.40% during the forecast period (2023 - 2032).
The antivirus software protects computers from viruses and once loaded offer real-time protection to the system against virus attacks. Once loaded into the system, the antivirus software scan, detect and remove the virus from the system.
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Key Players:
Key Companies in the Antivirus Software market include,
- Mcafee LLC (US)
- Bitdefender (Romania)
- Trend Micro Incorporated (Japan)
- Kaspersky Lab (Russia)
- Avast Software SRO (Czech Republic)
The onset of the COVID-19 pandemic may have halted the growth of the antivirus software market temporarily but owing to the sudden surge in the use of the online platform for various activities, the demand for antivirus software has increased.
The overall economic growth across the globe will open up lucrative opportunities for the Antivirus Software Market Growth. Over the years, there has been a significant increase in the use of online platforms. This is an important driver for boosting the market of antivirus software.
With the increase in data breaches and hacking in different types of systems such as desktops, laptops, mobiles, etc, it is mandatory to have antivirus in a system. Without an antivirus, the business is always at a threat of losing data which may cause huge loss. In 2020, hackers attacked the system of Air India and accessed the personal data of millions of fliers.
Market Segmentation:
The global Antivirus Software Market is fragmented based on regions, applications, and types.
By type, the market is further divided into computers, smartphones, tablets, and others. The computers sector is expected to grow significantly in the coming years.
Based on the application, the market is further divided into the personal sector, government sector, and enterprise sector. During the forecast period, the enterprise sector is expected to grow significantly.
Regional Classification:
By region, the global Antivirus Software Market is divided into North America, Asia Pacific, Europe, and the rest of the world.
The rising cybercrimes and increasing adoption of Bring Your Own Device (BYOD) in many organizations across the North American region will drive the growth of this sector in the coming days. North America already holds the maximum share of the market.
An increase in digitalization, increasing cybercrime, and adoption of cloud technology will help the Antivirus Software Market to grow substantially in the European and Asia Pacific region during the forecast period.
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Industry News:
With many key players across the globe, the Antivirus Software Market is fragmented and is highly competitive. The Antivirus Software Market Key Players adopt different strategies such as collaborations, expansion, acquisitions, mergers, launching innovative products, etc to occupy a substantial portion of the market revenue. With the increasing demand for antivirus software across different industries, key players are making big investments in research and development.
May 2020- Quick Heal Technologies Ltd (India), a solution provider for data protection and cyber security, went for a partnership with Ray Pte Ltd (Singapore) to extend its reach across countries and accelerate the production of futuristic antivirus software.
December 2020- Transmosis went into a partnership with Cysurance, a solution provider for next-generation cyber security.
December 2020- Norton Life Lock(US), acquired Avira(Germany) to expand its reach into the global market with the freemium antivirus software product.
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