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(USGovernment-News.Com, January 11, 2017 ) Cyber security is associated to information technology security that focuses on protecting computers programs, networks and data from unauthorized access. With the tremendous growth in the number of cyber-attacks and the intensity attacks, it has become mandatory for organizations to have adequate protection from such threats. Cyber-security is the modern day term used for protection against cyber espionages. Huge confidential data requires adequate level of security so that it doesn’t get hacked or controlled by someone or else the data gets corrupted. Government, military, public data, Banking Financial Service and Insurance and hospitals are the verticals which produce huge amount of confidential data and transfer this data across networks.
Huge and confidential data requires highest level of protection. Currently Big Data, predictive analysis trending in various industries; data generation, storage and transfer have undoubtedly became the word of businesses today. These technology trends are here to stay in the coming years and thus have become the primary drivers for the growth of this market. Additionally, Government regulation on data privacy and growing number of cyber threats are the revenue generators for the Cyber Security market. Also, rise in the usage of mobile devices, cloud and digitization have contributed on cyber security awareness. Furthermore, the rising scope of BYOD in companies is also driving this market.
The growth of the cyber security considering the advantages it offers hasn’t been so smooth and has faced with certain restraining factors. The primary restraint to the growth of this market is the lack of awareness about cyber security. The other factor that limits the growth to this market is the availability of pirated security software and lack of talented security professionals in organizations. Ban on piracy and strict actions taken by Government on piracy could be conducive to reduce the effect of that factor.
The global cyber security market is segmented by security types into network security, content security, endpoint security, wireless security & cloud security and application security. Additionally, in terms of services, the cyber security market is segmented by services into design & integration, consulting, managed security services, risk & threat assessment and training & education. The solutions segment of this market includes Identity and Access Management, Encryption, Risk and Compliance Management, Data Loss Prevention, Antivirus & Antimalware, Unified Threat Management, Firewall, Security Information and Event Management (SIEM), Intrusion Detection System (IDS), Disaster Recovery, Whitelisting and Distributed Denial of Service (DDoS) Mitigation. Industry verticals adopting this market include Government and Services, BFSI, Defense, Intelligence, Aerospace, Healthcare, Manufacturing and others. Amongst the revenue contributors to the cyber security market, North America and Europe are leading while APAC with emerging economies in India, China and South-East Asian countries is growing rapidly. Mobile security, SIEM, cloud security and threat intelligence are the applications which have contributed to the growth of this market. The leading market players for Cyber Security market include IBM Corporation, Symantec Corporation, Cisco Systems, Inc., Intel Corporation, Northrop Grumman, Computer Sciences Corporation, Booz Allen Hamilton, Lockheed Martin and Sophos among the others.
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