Cyber Security Market to Grow at CAGR 8.3% till 2021
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"
https://www.techsciresearch.com/report/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-2011-2021/687.html
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.
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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.
“Global
Cyber Security Market By Security Type, By Solution, By End Use Industry, By
Region, Competition Forecast and Opportunities, 2011-2021” provides market size, share, structure
and market forecasts. The report will prove to be a perfect tool for strategy
managers working for cyber security vendors.
About TechSci
Research
TechSci
Research is a leading global market research firm
publishing premium market research reports. Serving 700 global
clients with more than 600 premium market research studies, TechSci Research is
serving clients across 11 different industrial verticals. TechSci Research
specializes in research based consulting assignments in high growth and
emerging markets, leading technologies and niche applications. Our workforce of
more than 100 fulltime Analysts and Consultants employing innovative research
solutions and tracking global and country specific high growth markets helps
TechSci clients to lead rather than follow market trends.
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