Increasing cyber-attacks on the critical
infrastructure has rendered worldwide security at risk. The prime motive behind
these attacks is to gain access to financial information and retrieve sensitive
information related to an organizations’ operational strategies, government
defense moves, etc. Further, banking & financial institutions, stock
exchanges are also becoming highly vulnerable to the cyber-attacks. According
Identity Theft Resource Center, in 2015, around 163 million records were
exposed in total of 781 breaches across the globe. Due to rising number of
cyber-attacks, the government and private enterprises are propelled to heavily
spend on the upgradation of their network security to avoid any data or network
breach.
According to recently published TechSci Research
report titled “Global
Cyber Security Market By
Security Type, By Solutions, By End Use Industry, By Region, Competition
Forecast and Opportunities, 2011-2021” – the
global market for cyber security is bound to grow at 8.3% CAGR till 2021. The
cyber security market is divided between Network Security, Content Security,
End Point Security, Wireless Security, Application Security & Cloud
Security. Though the market is dominated by Network Security but during next
five years the maximum growth will be witnessed in Cloud Security market.
Browse 51 market
data Tables and 121 Figures spread through 222 Pages
and an in-depth TOC on "Global Cyber Security Market"
Customers can also request for 10% free
customization on this report.
With
growing adoption of cloud computing services across the world, requirement for
security measures for cloud computing are also increasing. Further, growth in
enterprise mobility and bring your device(BYOD) concept is fueling the
requirement for cloud security. The IT infrastructure landscape in
organizations is shifting from CAPEX to OPEX based investment scenario.
Organizations are shifting from their traditional IT infrastructure to agile,
secure and cost-efficient cloud infrastructure due to which cybersecurity
vendors needs to develop advanced cloud security solutions for manage demand
and supply gap – the opportunity identified in TechSci report.
Regionally, North America dominates the cyber
security market but the highest growth will be witnessed in APAC region in next
five years. Asia Pacific cybersecurity market is projected to outpace global
growth and grow at a CAGR of 11% during 2016-2021, registering fastest growth
rate across the global. Growing Internet user base, and mobile penetration in
the region, are anticipated to upsurge the APAC’s cybersecurity market.
However,
with increasing demand for Cybersecurity solution market across the globe
depicts scarcity of IT talent. The need of IT security developers, as well as
administrator requirement is high, however, the educational institutes do not
provide sufficient training to these human resources. It is recommended for
cybersecurity solution providers to partner with educational institutes, to
train and prepare for future manpower requirements. Further, cybersecurity
firms should participate in various government programs which encourages the
training of human resources.
Symantec Corp. has recorded largest revenue market
share in cyber security market in 2015 but Palo Alto Networks & FireEye are
expected to witness highest growth till 2021. The competitive landscape is set
to witness radical changes with the development of advanced and innovative
cyber security solutions highlights TechSci Research report.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel:
+1-646-360-1656
Email: sales@techsciresearch.com
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