Alarming Growth in Cyber Crime Drives the Global Market for Cyber Security, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Cyber Security markets. Global market for Cyber Security is projected to reach US$139.8 billion by 2020, primarily driven by the growing focus among private and public enterprises on protecting IT infrastructure from cyber threats.
San Jose, California (PRWEB) June 24, 2014
Follow us on LinkedIn – While the modern interconnected world brings in numerous advantages and empowers enterprises, it also brings in a fair share of challenges and perils. Today, a country’s economic prosperity and competitiveness depends on “Cyber Security” and the ability to effectively confront threats to the nation’s information grid. Growing adoption of the Internet by governments for defense and military management and public governance, makes public safety and national security vulnerable and dependent upon the robustness of a network. Several governments across the world have already been targets of cyber-warfare.
The unconventional challenges created by the increasing reliance of companies, governments, and people on digital infrastructure include threats posed by spyware, malware, spoofing, phishing, botnets, unauthorized data leakages and access to confidential information networks, and identity thefts among others. The growing emphasis on defending information and communications infrastructure represents one of the primary factors driving demand for cyber security solutions. Another key factor driving growth in the market includes the evolutionary leap in the threat landscape, which continues to evolve with malicious software codes and viruses, becoming more intelligent and sneakier, and capable of adapting against legacy defenses.
Growing adoption of cyber security solutions to avoid unnecessary costs associated with security breaches is driving growth in the market. Cost of data leaks and unauthorized use of confidential information is exorbitantly high, affecting the reputation, revenue, and even survival of companies. Malware, defined as malicious software designed to disrupt computer processes and gain access to confidential information, continue to afflict cyberspace with increasing intensity and frequency. Malware attacks over the internet are a growing threat and for businesses, the dramatic rise in frequency of malware attacks is necessitating the deployment of an additional layer of risk containment. The launch of HTML 5 in mobile devices has encouraged the use of mobile internet leading to an outbreak of malware programs. The cross-platform support of HTML 5 magnifies the threat further.
As stated by the new market research report on Cyber Security, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 11.8% over the analysis period. Robust economic growth, boom in enterprise networking, increasing adoption of e-governance model, rapid evolution of internet infrastructure and proliferation of cloud technologies, particularly in emerging countries such as China and India, represent key factors driving growth in the region.
Major players in the market include AVG Technologies, Booz Allen Hamilton, CA Technologies Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., CSC, Deloitte LLP, F-Secure Corporation, IBM Corporation, Juniper Networks Inc., Kaspersky Lab, Lockheed Martin Corporation, McAfee Inc., Microsoft Corporation, Northrop Grumman Corp., Panda Security, SafeNet Inc., Sophos PLC, Symantec Corporation, Trend Micro Incorporated, Utimaco Safeware AG, and WebSense Inc.
The research report titled, “Cyber Security: A Global Strategic Business Report,” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions, and other strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and the rest of Europe), Asia-Pacific (China, India, and the rest of Asia-Pacific), Latin America (Brazil and the rest of Latin America), and the rest of the world. Key segments analyzed include Application Security, Content Security, Endpoint Security, Network Security, Services, and Others. End-use sectors analyzed include Banking & Financial Sector, Public Sector & Aerospace, Medical care Sector, Manufacturing Sector, IT & Telecom Sector, and Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Cyber_Security_Market_Report.asp
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends, while monitoring more than 126,000 companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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