Cyber Security Market Worth $170.21 Billion by 2020

DALLAS, June 10, 2015 /PRNewswire/ --

According to a new market research report, "Cyber Security Market by Solution (IAM, Encryption, DLP, Risk and Compliance Management, IDS/IPS, UTM, Firewall, Antivirus/Antimalware, SIEM, Disaster Recovery, DDOS Mitigation, Web Filtering, and Security Services) - Global Forecast to 2020", published by MarketsandMarkets, defines and segments global market into cyber security solutions and services.

Browse 74 market data tables and 56 figures spread through 187 pages and in-depth TOC on "Cyber Security Market".

http://www.marketsandmarkets.com/Market-Reports/cyber-security-market-505.html

Early buyers will receive 10% customization on this report.

Nowadays, companies are focusing not only on security solutions but also on security services. Among the services, managed security service is rapidly gaining traction by covering 40% of the security market in 2015. Managed security services help clients to prepare for cyber-attacks by understanding and managing cyber exposure, enabling them to make informed investment decisions and to put necessary, cost-effective protection in place.

Explosive increase in cyber threats is backed by factors such as increasing mobile and web usage and social media, among others. Also, Internet of Things (IoT) is another major factor that has invited various cyber threats at various sensors, terminals, and end devices. Considering this, every sector has a wide scope for cyber security requirement. Organizations are looking for integrated security solutions these days to cater their various security needs through one platform for cost benefits and to reduce complications. The aerospace, defense, and intelligence vertical needs the most advanced cyber security solutions due to increasing security need of the nations. E-governance, increasing concerns regarding territorial security like military, navy, and economic has led the government to think more seriously about cyber threats. Also, increasing demand for cyber security has led the government to make about stringent cyber and IT laws, legal and regulatory compliances, and data security.

Major driving factors for the Cyber Security Market are increasing strictness of government regulations and evolving cyber threats, which are forcing organizations to focus more on cyber security. Also, increasing mobile data usage, cloud usage, and digitization contribute to increasing cyber security awareness. Increasing scope of BOYD at workplace is also said to be driving the market on long-term basis. By utilizing solutions such as data center as a processing and storage powerhouse, data loss protection, data recovery management, leaks and hacking threats can be reduced up to a very large extent. Furthermore, the advancements in virtual machine isolation, client authentication, and secure opportunistic computing are expected to facilitate the adoption of cloud computing, wireless security, and data center, which in turn will boost the demand for advanced security solutions in the coming years. However, lack of talented security professionals in organizations is one of the major problems that have to be tackled.

The major vendors in the Cyber Security Market are IBM corporations, Intel Corporation, Booz Allen Hamilton, CSC, Lockheed Martin, Northrop Grumman, Sophos, Symantec, and Trend Micro.

For more Inquiry:http://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=505

The global cyber security report is segmented on the basis of type, solution, service, vertical, and region. The cyber security types include network security, endpoint security, application security, content security, and wireless security & cloud security. The services are segmented as consulting, design & integration, risk & threat assessment, managed security services, and training & education. The market is segmented into solutions such as identity and access management, risk and compliance management, encryption, data loss prevention, unified threat management, firewall, antivirus and antimalware, Intrusion Detection System (IDS)/Intrusion Prevention System (IPS), Security Information and Event Management (SIEM), disaster recovery, Distributed Denial of Service (DDoS) mitigation, and whitelisting. In addition, the report classifies the industry verticals as aerospace, defense, and intelligence; government; Banking, Financial Services, and Insurance (BFSI); telecommunication; healthcare; retail; manufacturing; and others. Also, the regions covered are North America, Europe, Asia-Pacific, Middle-East and Africa, and Latin America.

MarketsandMarkets expects the global Cyber Security Market to grow from $106.32 Billion in 2015 to $170.21 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 9.8%. In the current scenario, North America is expected to be the largest market on the basis of spending and adoption of cyber security solutions and services. MarketsandMarkets expects North America to retain its position as the highest revenue generator for the Cyber Security Market during the entire forecast period, while significant revenue growth is expected from Latin American and Asia-Pacific regions.

Browse Related Reports 

Intrusion Detection System/Intrusion Prevention System (IDS/IPS) Market (Host Based IDS/IPS, Network Based IDS/IPS, Wireless IDS/IPS, On-premise & Cloud Deployment, Appliances, Software, Professional Services) - Global Advancements Forecasts & Analysis (2014-2019)

http://www.marketsandmarkets.com/Market-Reports/intrusion-detection-prevention-system-market-199381457.html

Middle East Cyber Security Market by Technologies (IAM, DLP, UTM, IDS/IPS, Firewall, Risk & Compliance Management, Antivirus, SVM/SIEM, Disaster Recovery, DDOS Mitigation, Encryption, Web Filtering) & by Services - Market Forecasts and Analysis (2014-2019)

http://www.marketsandmarkets.com/Market-Reports/middle-east-cyber-security-market-121119697.html

About MarketsandMarkets 

MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252
Tel: +1-888-600-6441
Email: [email protected]
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/telecom-it

SOURCE MarketsandMarkets