The
global cyber security market is expected to reach USD
205.51 billion by 2024, according to a new report by Grand View Research, Inc.
The dependence of enterprises on information technology and sensitive nature of
digitally stored data has raised the stake for cyber-attackers with financial
gain becoming a primary motive.
Solution
providers are indulging in research and development to develop next-generation
security solutions. For instance, Science Applications International
Corporation (SAIC) has developed an innovative cyber security technology that
helps government protect critical data, mitigate risks, and establish a
comprehensive defense against cyber-attacks. There is also a greater emphasis
on the intelligence-led security as conventional security technologies, such as
web, content management and network security, are failing to deliver the
tracking of security incidents.
The
cyber security industry is expected to witness high demand for cloud-based
applications as government organizations are opting for the cloud platform for
data sharing.
Asia
Pacific Cyber security Market By Application, 2014 - 2024 (USD Billion)
Browse full research report on Cyber
Security Market: http://www.grandviewresearch.com/industry-analysis/cyber-security-market
Further key findings from the study suggest:
- The
services segment is anticipated to grow at a CAGR of over 12% from 2016 to
2024. The growing demand for Security-as-a-Service (SaaS) and cloud-based
solutions is expected to provide growth opportunities
- Healthcare
industry is expected to reach over USD 30 billion by 2024. The health
insurers are the prime target of the cyber-attacks, such as Advanced
Persistent Threats (APTs) and spear phishing. The crimes and breaches in
this sector are rising as the cost of stolen medical record is increasing.
- The
North American cybersecurity industry is anticipated to reach over USD 61
billion by 2024. The increasing cybercrime costs are enabling the region
to focus on building a strong resilience system for managing cybercrimes.
- MEA is
expected to grow at a CAGR of over 12.5% from 2016 to 2024. The region is
adopting digital technologies and applications at a faster pace,
increasing the risk of cyber-attacks. The expansion of digitization
throughout the region has made cybersecurity a necessity for
organizations.
- The
major players in the cybersecurity market include Fortinet Inc.,
Checkpoint Software Technologies Ltd, Cisco Systems Inc., Trend Micro Inc.
and Symantec Corporation. The companies in the cyberspace are focusing on
reducing the costs incurred in implementing security strategies by moving
from solution-based products to service offerings The growing trend of
security-as-a-service is increasing the adoption of services and key
players are integrating with major service providers to fulfill consumer
demand.
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-cyber-security-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
No comments:
Post a Comment