iCrowdNewswire Dec 29, 2020 10:15 AM ET
Antivirus Software Market Overview:
Global Antivirus Software Market is 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.
The Key Players of the 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)
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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.
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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
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