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The software offerings segment held the largest market size in the year 2018 and is projected to grow at a CAGR of 91.1% over the forecast timeframe. However, hardware segment is anticipated to dominate the market over the forecast period, growing at a CAGR of 93.6%. hardware segment is majorly driven due to the growing data transition among the people of the same network.
Market Segmentation:
On the basis of application segment, data security application accounted for 22% share in the year 2018, valued for $7.0 million and is anticipated to grow at a highest CAGR of 93.4%. this is majorly due to the increasing concerns for data theft owing to the number of cyber-attacks taking place across the globe.