Antivirus Software Market

Antivirus Software Market to See Competition Rise 2032

Antivirus Software Market Overview:

The Antivirus Software market industry 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).

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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)

Emergence of Innovative Viruses and Cyber-Attacks to Boost the Antivirus Market Size

The antivirus software industry is quickly expanding, owing mostly to an increase in the number of organizations and the threat of cyber-attacks. Hackers’ innovative viruses and cyber-attacks, such as malware, ransomware, phishing, Trojans, and others, generate significant market demand. Furthermore, the growing use of smartphones and the necessity to protect the cyber terrain from significant threats drive uptake of commercial antivirus software.

Every malicious piece of such attacks is hosted on normal services, making it more difficult for defenders to detect via network signals. The growing usage of cloud-based services for storing personal and private data, as well as the expanding use of smart, connected devices such as laptops and smartphones, introduces cyber vulnerabilities such as data breaches, which frequently result in major financial losses.

The Global Market to Benefit from COVID-19 Pandemic

The COVID 19 pandemic has had a significant impact on the expansion of the antivirus software market. During the COVID 19 period, there has been a notable surge in cyber breach cases. According to the Cybersecurity and Infrastructure Security Agency (CISA), cyber fraud activities surged by about 20% in the first quarter of the fiscal year 2020. CISA further stated that an estimated USD 3.5 billion was lost in cybercrime alone in 2019.

The coronavirus lockdown resulted in massive financial losses across industries and the closure of various manufacturing facilities throughout the world, putting a halt to production, but the antivirus software market has grown even more. Based on the pattern during the COVID-19 crisis, when individuals are still maintaining social distancing and working from home, the antivirus software industry is expected to increase steadily.

Innovative antivirus solutions have been extremely crucial in the recent COVID 19 crises to enable live streaming, e-learning, and other activities throughout the day as everyone works from home. Furthermore, the continuous advantages of antivirus technology in extending a WiFi footprint to suit the increased demand for an internet connection throughout the home drive market growth. This scenario is expected to improve the market’s growth rate during the projected period (2022-2030).

Market Segmentation:

The global antivirus software market has been segmented into types and applications.

By type, the global antivirus software market has been segmented into PC and Phones/Pad.

By application, the global antivirus software market has been segmented into Enterprises, Individuals, and Government.

Regional Analysis:

North America to Remain Dominant in the Global Market

During the forecast period, North America is expected to lead the worldwide antivirus software market. The increasing advancements in digital technology and demographics’ high disposable incomes are attributable to market expansion. Furthermore, the increasing use of BYOD policies in most enterprises, as well as rising cybercrime in the region, boost the market share of antivirus software.

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The use of cloud technology and antivirus software, as well as different acquisitions, partnerships, and collaborations among regional players drive market expansion. The United States dominates the regional market, accounting for a sizable market share, owing to the presence of prominent technology suppliers such as NortonLifeLock Inc., Malwarebytes, and Webroot. The antivirus market in the United States is predicted to increase significantly during the study period, with the same growth trends continuing.

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