Global Adaptive Security Market - Segmented by Deployment Model (Cloud, On-Premise), Type of Service (Managed Service, Professional Service), Application (Application Security, Network Security, Endpoint Security, Cloud Security), End User (BFSI, Government and Defense, Manufacturing, Healthcare, Energy and Utilities, IT and Telecom), and Region - Growth, Trends, and Forecast (2018 - 2023)
The global adaptive security market is expected to witness a CAGR of 12.7% over the forecast period (2018 - 2023). The adaptive security system is an integrated design of software and hardware, to give security at the core of infrastructure against remote devices and cloud-based environment. Adaptive security systems operate against the principles of the traditional security systems. The adaptive security systems, instead of relying on pre-programmed virus definitions that need frequent updates, study the behavior of a suspicious activity that could be a potential threat and take necessary preventive measures to eliminate any such threats. Enterprises have been adopting prevention strategy to keep track of such undetectable threats increasingly in order to protect organizations’ data, networks, and applications. Need for security compliances and regulations as well as the need to secure IT resources from advanced cyber-attacks are some of the major factors driving the adaptive security market over the forecast period.
North America Holds the Largest Market Share
North America is expected to retain its position as the most significant market for adaptive security solutions over the forecast period. The strong presence of several market incumbents, coupled with recent security threats in the region, is expected to drive the adoption of these solutions further. According to the recent annual budget plans of Trump’s government, the United States has earmarked more than USD 19 billion for cybersecurity-related initiatives. This was majorly due to the increasing number of cyber-attacks on a number of healthcare, electricity, and business sector organizations in the country.
The total number of cybersecurity incidents reported by federal agencies in the United States has drastically increased from 5,503 in 2006 to 77,183 in 2015. In 2016, United States businesses sector was estimated to have recorded the highest number of data breaches of approximately 45% of the total number of data breach incidents reported in the country, followed by medical/healthcare sector at 35% and education sector at 10%. It is estimated that in more than 41% of such cases the penetration level was classified as unknown, which means that the traditional security could not wholly identify the impact of the breach. These high rates of unknown data breach sources are encouraging the North American countries to strengthen their security systems allowing a significant number of opportunities in the adaptive security market.
Key Developments in the Market