Global Cyber Security Market By Security Type (Network Security, Content Security, etc.), By Solutions (Identity & Access Management, Risk & Compliance Management, etc.), By End Use Industry, By Region, Competition Forecast and Opportunities, 2011-2021
Cyber security market is one of the fastest growing markets in the global IT security sector. Rising average per capita cost of data breach is a major factor propelling investments by the private companies to strengthen their network security. Implementation of stringent government regulations along with augmented government as well as private sector spending towards ensuring cyber security and developing skilled human resources is fueling the adoption of advanced cyber security solutions such as Next-Generation Firewall (NGFW), Unified Threat Management, Intrusion Detection System/Intrusion Prevention System, Security Information & Event Management, etc., globally. Increasing role of cyber security analytics services to predict the trend of cyber-attacks to help organizations in mitigating financial losses incurred during a cyber-attack, is expected to attract R&D investments in the coming years. Anticipated growth in R&D investments is expected to result in development of advanced cyber security solutions to protect mobile devices, content, personal information, etc., which in turn would stimulate growth in the global cyber security market during the forecast period.
According to TechSci Research report “Global Cyber Security Market By Security Type, By Solutions, By End Use Industry, By Region, Competition Forecast and Opportunities, 2011-2021”, global market for cyber security is projected to surpass US$ 137 billion by 2021. Growing trend of Bring Your Own Device (BYOD), rising adoption of cloud computing, expanding market for Internet of Things (IoT) are expected to continue driving the cyber security market across the globe over the next five years. Though the global cyber security market is highly fragmented, Symantec Corporation emerged as the largest player in 2015, followed by BAE Systems PLC, Intel Corporation and Cisco Systems. Banking, Financial Services and Insurance (BFSI); IT & Telecom; defense; energy & power; retail; and healthcare have emerged as the key application areas where cyber security solutions are being increasingly adopted. “Global Cyber Security Market By Security Type, By Solutions, By End Use Industry, By Region, Competition Forecast and Opportunities, 2011-2021” discusses the following aspects of the cyber security market, globally: