Cyber Security Market in North America 2015-2019
About Cyber Security
Cyber security solutions help organizations monitor, detect, report, and counter cyber threats to maintain the confidentiality of IT systems. Internet penetration in emerging countries and usage of smartphones, tablets, and laptops and mobile apps have given rise to complex cyber-attacks on IT infrastructure. This has become a major concern for countries in North America. Organizations in North America need to adopt cyber security solutions to ensure the security of critical information stored on computer systems or digital memory devices. Adoption of cloud services, wireless technologies, and accessing social media websites within organizations in North America have brought high level of risk in terms cyber threats. The growing complexities of cyber-attacks are prompting organizations in the government, BFSI, retail, telecom, and manufacturing sectors to adopt cyber security solutions to ensure security of critical information stored on their network servers or data centers. For instance, JPMorgan Chase was affected by data breach in 2014; hackers attempted to access its servers and gained access to the names, addresses, emails, and telephone numbers including savings account information of nearly 83 million customers.
Technavio's analysts forecast the cyber security market in North America to grow at a CAGR of 7.32% over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the cyber security market in North America for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of cyber security solutions in North America. The market is highly fragmented with the presence of several small and large vendors. The report does not include the market share of all vendors; it only presents a list of key vendors and their corresponding detailed analysis.
Technavio's report, Cyber Security Market in North America 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in the market.
Technavio Announces the Publication of its Research Report – Cyber Security Market in North America 2015-2019
Technavio recognizes the following companies as the key players in the cyber security market in North America: Booz Allen Hamilton, Cisco Systems, CSC, Fortinet, General Dynamics, McAfee, Northrop Grumman and Symantec
Other Prominent Vendors in the market are: BAE Systems, Brocade Communications Systems, Check Point Software Technologies, EMC, HP, IBM, Juniper Networks, Kaspersky Lab, L-3 Communications, Lockheed Martin, Palo Alto Networks and Raytheon
Commenting on the report, an analyst from Technavio’s team said: “Organizations find it difficult to manage stand-alone or integrated network components because of issues such as budget constraints and lack of resources and expertise to address security problems. Hence, organizations opt for cloud-based security solutions that are cost-effective and compatible with PCI DSS regulations and offer round-the-clock monitoring of systems.”
According to the report, increased dependency on web applications leads to an unprecedented rise in cyber-attacks, including APTs. These APTs can affect the IT infrastructure of an organization and are generally intended to target critical infrastructures such as government websites, customer databases, and web servers, and can cause more harm than other types of cyber threats. In addition, APTs can be detected only after an attack. To better secure their networks, organizations in North America are adopting network security solutions, which is driving the growth of the cyber security market in North America.
Further, the report states that the overall cost of cyber security solutions includes the cost of software licensing, system designing and customization, implementation, training, and maintenance.
Booz Allen Hamilton, Cisco Systems, CSC, Fortinet, General Dynamics, McAfee, Northrop Grumman, Symantec, BAE Systems, Brocade Communications Systems, Check Point Software Technologies, EMC, HP, IBM, Juniper Networks, Kaspersky Lab, L-3 Communications, Lockheed Martin, Palo Alto Networks, Raytheon