Internet Security Market is Expected to Reach $42.8 Billion Globally by 2020 - Allied Market Research

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Nov 20, 2014, 09:03 ET

PORTLAND, Oregon, November 20, 2014 /PRNewswire/ --

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According to a new report by Allied Market Research titled, "Global Internet Security Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 - 2020", the global internet security market is expected to reach $42.8 billion by 2020, registering a CAGR of 8.1% during 2014 - 2020. The market, driven by demand for software solutions, would experience a shift towards the adoption of cloud based systems. About 80 % of the top companies, today, identify with cloud based security services which have become a prominent market trend.

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To view the report, visit the website at http://www.alliedmarketresearch.com/internet-security-market

The rapid uptake of internet based applications ranging from education to government, retail to IT & telecommunications, BFSI to manufacturing and others are threatened by the explosive growth of virus and spam attacks. Cybercrime Practices like, Unethical-hacking, botnets, distributed denial of services (DDoS), malware, spyware, spams, viruses and other such threats, are estimated to reach a figure of $1 trillion, globally. The high burden of security threats is providing growth platform for internet security market to grow at a consistent rate.

Recently, at an International Security Conference held at Europe, serious concerns were raised against 'Malvertising', i.e. Malware attack through advertisement links on web-spaces. As such attacks are continuously evolving; the need for efficient internet security solutions is highlighted. The internet security market would flourish in future mainly due to rising online financial transactions and internet usage.

View all reports related to information and communication technology at http://www.alliedmarketresearch.com/information-&-communication-technology-&-media-market-report

Software security solutions contribute to about 80% of the overall internet security market revenue, owing to widespread adoption of individual & corporate users. However, industry leaders such as Intel, HP and Symantec are investing to develop cloud based security solutions. As an impact of these efforts, managed services would grow at the highest CAGR of 28% over the forecast period, surpassing the revenue contribution by hardware solutions.

Key findings of the study:

Global market for internet security is moving forward with BFSI, retail, government and education to provide major growth thrust during the forecast period (2014 - 2020)
Security adoption in education application segment will grow at a CAGR of 13.9% during the forecast period, fastest among all applications
Asia-Pacific would prove to be one of the most lucrative markets, both in terms of size and growth. It should reach $12.2 billion by the year 2020, at a CAGR of 10.9%
The adoption of internet security in education applications should grow rapidly, especially in the Asia-Pacific region at a CAGR of 19.2%.

The market growth is strengthened due to factors such as favorable regulations & policies along with e-commerce & e-governance initiatives. As this industry is in its near maturity stage, companies are strategically focusing on dynamic and innovative product development. The selective focus is on product enhancement in order to gain a competitive advantage. Prominent companies profiled in the report include Symantec, Intel, HP, Cisco, IBM, Microsoft, Kasperkay, and Dell.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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SOURCE Allied Market Research