Global Antivirus Software Market Projected to Hit USD 7.16 Billion at a 8.4% CAGR by 2030 – Report by Market Research Future (MRFR)

Market Analysis 

The global antivirus software market will reach USD 7.16 billion at an 8.4% CAGR by 2030, states the new Market Research Future report.

Antivirus Software Market Drivers 

Rise in Cyber-Attacks to Boost Market Growth 

In the succeeding years, it is likely that the market for antivirus software would expand due to the rise in cyberattacks. A cyberattack is an intentional disruption, disablement, destruction, or manipulation of a computer or other device that takes place in cyberspace. The use of viruses or malware to hack into computers, laptops, and mobile devices is on the rise, as are data breaches. Cyberattacks can be stopped with antivirus software, which can block or stop viruses and other malware from infecting the device.

Report Scope:

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Antivirus Software Market Opportunities 

Increasing Use of Mobile Devices to offer Robust Opportunities 

The increasing use of mobile devices coupled with the usage of external devices like media cards & USBs will offer robust opportunities for the market over the forecast period. 

Other factors fuelling market growth include a rise in the use of paid antivirus software & antivirus protection products and government cybersecurity initiatives. 

Antivirus Software Market Restraints and Challenges 

Concerns about Data Security to Remain Market Challenge 

The growth of antivirus software is anticipated to be significantly constrained in the aforementioned estimated period by the increase in the number of solution providers offering software on a trial basis or free pirated antivirus software. Besides, the increasing concerns about data security and shortage of in-house expertise may also impede Antivirus Software Market growth.

Antivirus Software Market Segmentation 

The global antivirus software market is bifurcated based on application and type. 

By type, PC will lead the market over the forecast period over the forecast period. 

By application, enterprises will domineer the market over the forecast period. 

COVID-19 Analysis 

The COVID 19 pandemic has significantly slowed the market’s expansion for antivirus software. The number of cyber breach instances has considerably grown since COVID 19. The first quarter of FY 2020 saw an approximately 20% increase in cyberfraud operations, according to the Cybersecurity and Infrastructure Security Agency (CISA). 3.5 billion USD was reportedly lost in cybercrimes alone in 2019, according to CISA.

The global coronavirus lockdown resulted in significant financial losses for all industries and the closure of numerous factories, which slowed down output, yet the market for antivirus software has continued to grow. The market for antiviral software is expected to continue expanding based on the COVID-19 crisis trend, when individuals are still keeping social distance and working from home.

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With everyone doing work from home due to the recent COVID 19 crisis, innovative antiviral solutions have grown to be crucial for enabling live streaming, e-learning, and other daily activities. Additionally, the continued advantages of antiviral technology in expanding a WiFi footprint to satisfy the growing demand for internet connection throughout the home propel market expansion. During the projection period, it is predicted that this scenario will accelerate the market’s growth.

Regional Analysis 

North America to Precede Antivirus Software Market 

During the projected period, North America is anticipated to lead the worldwide antivirus software market. The market is expected to rise as a result of demography’ high disposable incomes and the development of digital technology. Additionally, the BYOD policy’s widespread adoption in most enterprises and the region’s rising cybercrime rate help to increase the market share for antivirus software. Antivirus software and cloud technology use, as well as numerous acquisitions, partnerships, and collaborations among regional competitors, all contribute to the market’s expansion. Due to the presence of important technological companies as Malwarebytes, NortonLifeLock Inc., and Webroot, the US dominates the regional industry and holds a sizable market share. During the study period, the US antiviral industry is anticipated to expand significantly while maintaining its current growth patterns.

Europe to Have Favorable Growth in Antivirus Software Market 

In the global market for antivirus software, Europe now holds the second-largest market share. There is a sizable market demand due to factors like the region’s expanding digitalization and the rise in cybercrime. Additionally, the growing use of antiviral software for both personal and business purposes has an impact on the development of the local industry. Additionally, the adoption of antivirus software to safeguard private information against theft, phishing, malware, and piracy is growing in government institutions.

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Antivirus Software Market Key Players 

Eminent industry players profiled in the global antivirus software market report include Symantec Corporation (US), ESET, S RO (Slovakia), Mcafee LLC (US), Bitdefender (Romania), Trend Micro Incorporated (Japan), Kaspersky Lab (Russia), Avast Software SRO (Czech Republic), F-Secure (Finland), Fortinet Inc. (US), Data Cyberdefense AG (Nordrhein-Westfalen), Beijing Qihu Keji Co. Ltd. (China), Avira Operations GMBH & CO. KG. (Germany), Tencent (China), Comodo Security Solutions Inc. (US), AHNLAB INC. (South Korea), Microsoft Corporation (US), Cheetah Mobile Inc.(China), Beijing Rising Information Technology CO. LTD.(China), and Quick Heal Technologies Limited (India), among others.

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