North America Cyber Security Market Size and Share Outlook: Forecast Trends and Growth Analysis Report (2026-2035)

North America Cyber Security Market Growth

In 2021, an astonishing 85% of Canadian businesses experienced the impact of cybercriminal activities, marking a 7% rise from the previous year. In response to the increasing frequency of cyberattacks, both corporate entities and government institutions in Canada are allocating resources towards enhancing cybersecurity measures. Given that the average financial loss from a data breach for Canadian firms amounts to approximately 5.4 million, there is a concerted effort from both the private and public sectors to bolster cybersecurity at both organisational and national levels. On average, a Canadian company dedicates 11.1% of its IT budget to security initiatives.

The United States boasts the largest and most liquid financial markets globally. In 2020, finance and insurance made up 8.3% of the U.S. gross domestic product, amounting to $1.7 trillion. In the same year, the U.S. exported $151.9 billion in financial services and insurance, resulting in a $60 billion surplus in financial services and insurance trade. Additionally, the insurance sector's net premiums written totalled $1.32 trillion in the same year. According to the 2021 edition of the Global Findex, North America has the highest percentage of people who own an account, with 99.6% of the adult population in Canada and 95% in the United States owning an account with a financial institution or mobile money provider. This rapid digital transformation of financial services and the advancement of cybercriminal activities have left the sector susceptible to cyber threats.

Key Trends and Developments

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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

North America Cyber Security Market Trends

In 2023, the United States FBI reported that the healthcare sector was more prone to ransomware than other critical infrastructure and attacks featuring ransomware in the healthcare sector increased by 130%, negatively impacting access to critical care. This is driving the demand for effective cyber security solutions that can block threats and patient data breaches, encrypt mail messages, protect clinicians from being targeted by advanced attacks, and improve security awareness.

There is a growing adoption of automation in cyber security to automate operations such as threat detection, compliance management, incident response, and vulnerability management, minimise the risk of human error, and lower the workload of security teams. Improved accuracy, better insights, reduced cost and validation time, and better application security are further driving the adoption of automated cyber security solutions.

North America Cyber Security Industry Segmentation

North America Cyber Security Market Share

Based on the industry vertical, the market is segmented into BFSI, government, healthcare and life sciences, aerospace and defence, and manufacturing, among others. The BFSI sector is projected to grow at a CAGR of 9.9% during the forecast period of 2026-2035 amid the rising digitisation of banking services in the region.

Leading Companies in the North America Cyber Security Market

Major players are focusing on the adoption of artificial intelligence and machine learning to gain a competitive edge in the market.

• IBM Corporation
• Cisco Systems Inc.
• Broadcom Inc.
• Oracle Corporation
• Intel Corp.
• Dell Inc.
• Fortinet Inc.
• F5 Inc.
• Cyberark Software Ltd.
• Trend Micro Inc.
• Palo Alto Networks Inc.
• Others

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.