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Market Scenario:
The
global Antivirus
Software Marketis projected to grow at a CAGR of 10.8% %
during the forecast period (2020-2026).
Market
growth is fueled by the rising adoption of smartphones and the growing use of
paid antivirus software. However, individuals and micro & small enterprises
use free tools and services, which acts as a major hindrance to market growth.
Antivirus software, simply put, is a program that
has been designed to prevent, detect, search for, and remove viruses as well as
other malicious software such as Adware, Trojans, and worms. This antivirus is
used by government institutions, enterprises, and individuals.
Various factors are propelling the global antivirus
software market revenue. As per the MRFR report, such factors include a rising
number of cyber-attacks and cybercrimes through malware like adware, viruses,
and Trojans, increasing use of paid antivirus software and antivirus protection
product, initiatives by the government for cybersecurity, growing adoption of
smartphones, and use of external devices like media cards and USBs.
In
a nutshell, COVID-19 impact on managed services has been fruitful, with the
market growth enhanced than before. Given the prevalent lockdown situation,
managed services vendors are now investing heavily in remote-centric worker
solutions, which can make the market highly resilient in the coming years, even
as the world is currently rushing to achieve a COVID-19 breakthrough.
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Competitive
Outlook:
The
key players of the global antivirus software market include Symantec
Corporation (Broadcom Inc.) (US), Mcafee, LLC (US), ESET, SPOL. S
R.O.(Slovakia), Bitdefender (Romania), Kaspersky Lab (Russia), Trend Micro
Incorporated (Japan), Avast Software S.R.O. (Czech Republic), Fortinet, Inc.
(US), F-Secure (Finland), Data Cyberdefense AG (Nordrhein-Westfalen), Avira
Operations GMBH & CO. KG. (Germany), BEIJING QIHU KEJI CO. LTD (China),
Tencent (China), Quick Heal Technologies Limited (India), Comodo Security
Solutions, Inc. (US), Microsoft Corporation (US), AHNLAB, INC. (South Korea),
Beijing Rising Information Technology CO., LTD.(China), and Cheetah Mobile,
Inc.(China)
Segmentation:
The
global antivirus software market has been segmented based on component, end
user, and region.
Based
on type, the antivirus software market has been segmented into PC and
Phone/Pad. The PC segment accounted for the larger market share in 2019, with a
larger market value
Based
on application, the global antivirus software market is categorized into
individual users, enterprise users, and government users. The enterprise user
segment accounted for the largest market share in 2019
Regional
Analysis:
The
geographic analysis of the antivirus software market has been conducted for
North America, Europe, Asia-Pacific, the Middle East & Africa, and South
America.
North
America is expected to be the largest market for antivirus software during the
forecast period. North America has been segmented into three countries, namely
the US, Canada, and Mexico.
The
US is the market leader in North America, accounting for a significant market
share. The antivirus market in the US is expected to grow significantly owing
to the presence of key players in the US, including NortonLifeLock Inc.,
Malwarebytes, and Webroot. Market growth in the US can be attributed to the
increasing urbanization, advances in digital technology, and higher disposable
incomes. The ever-increasing number of BYOD users, the adoption of cloud
technology, and the need to protect devices from cybercrimes are some of the
major factors driving the adoption of antivirus software. Various mergers,
partnerships, and collaborations take place in the US market, making it
significantly dynamic.
Europe
is expected to hold the second position (in terms of market share) in the
overall market during the forecast period. A large amount of digitalization and
the growing instances of cybercrimes have led to an increase in the demand for
antivirus software. The individual, as well as commercial use of antivirus
software, is growing in the region. Additionally, government organizations are
also making use of antivirus software on a large scale to protect confidential
data from thefts, phishing, malware, and piracy.
The
market in the Asia-Pacific region is expected to register the highest CAGR
during the forecast period. The increasing number of enterprises adopting BYOD
and advancements in digital technology are the main factors driving the growth
of this market; the increasing purchasing power of the middle-class population
is also projected to be vital in driving the market growth. Moreover, the major
antivirus software companies based in the US and the UK are expanding their
business in Asia-Pacific. The adoption of cloud technology is high in APAC, and
thus the demand for cloud-based antivirus software is expected to be high in
this region.
The
Middle East & Africa market is expected to display stagnant growth during
the forecast period due to limited investments in such solutions. The Middle
East & Africa market includes countries such as Saudi Arabia, South Africa,
the UAE, and Qatar.
The
South American antivirus software market is expected to grow at a considerably
higher CAGR than the Middle East & Africa. Countries that are part of South
America include Brazil, Venezuela, Chile, Argentina, and Colombia.
.
Industry News
However, in the meantime, the key market players have
implied various strategic techniques to boost global market growth. Thus, to
meet the global market demands, the global market increased its speed in
producing more valuable products for its intended customers. Recently, the
global market has stabilized its position in the global market and is expected
to register a higher Antivirus Software Market Sizefor the forecast period.
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