Increased Adoption Among SMBs to Drive Growth in the World Cyber Security Market, According to New Report by Global Industry Analysts

Follow us on LinkedIn During the modern interconnected world brings in numerous advantages and empowers mankind it as well brings in its fair share of challenges and perils. The extent of proliferation of digital information and communications and the Internet in every walk of life can be thrown into sharp relief by the fact that today a countrys economic prosperity and competitiveness depends on Cyber Security and the ability to effectively confront threats to a nations information grid. The growing adoption of Internet by governments for defense and military management and public governance makes public safety and national security vulnerable and dependent upon the robustness of a network. Several governments across the world have already been targets of cyber-warfare. The magnitude of cyber crime has skyrocketed in recent years. Today, cyber-crime costs more than US$1.0 trillion to society, with billions of dollars stolen from small, medium and large-sized enterprises, and identity of millions of individuals compromised every year.

Against this backdrop, security battles are poised to escalate and the enterprise end-use segment will drive the maximum gains in the marketplace as they increasingly become rich targets, given the valuable information including sensitive customer data stored on information networks. As businesses move towards distributed cloud and virtualized environments, security issues will assume moreover critical importance across all layers of networking functions. To illustrate, during cloud computing and virtualization facilitate simplification of a companys IT infrastructure and aid in lowering overhead expenditure, the technologies as well tend to raise security risks.

Growing digital literacy and cyber security awareness among the modern digital workforce will beneficially influence market opportunities. Demand for cyber security solutions will be especially strong in high-tech countries with sophisticated internet infrastructure and services. This is primarily because lower a countrys broadband penetration and/or internet exposure, lesser are the risks of cyber-threat and vice versa. In Europe, loop holes in internet defense measures in Spain, Denmark, Austria, Russia, Poland, Italy, Romania, offer huge untapped potential for growth. The lack of funds, absence of dedicated regulatory bodies, inadequate contingency plans and improperly coordinated national cyber strategy, which until now has been encouraging the growth of cyber crimes is set to change. Given the strong case for action, concerted efforts from the government and the private sector, is expected to result in the development of enforceable national level cyber security policies and cyberspace security response systems.

As stated by the new market innovation report on Cyber Security, United States and Europe dominate the world market. Asia-Pacific is forecast to witness the strongest growth growing at a projected CAGR of 13.2% over the analysis period. Growth in the region will be driven by the blistering pace of Information Innovation growth in emerging economies like China and India. As well, with governments in these regions expected to legislate national cyber strategies and laws, the ensuing forced regulatory compliance will push up earnings in the marketplace. Risk & Compliance Management, comprising security and risk assessments, security strategy, and training, is forecast to witness the fastest growth worldwide over the analysis period.

The global marketplace include SafeNet

Major players in the global marketplace include SafeNet, Inc, AVG Technologies, BitDefender® LLC, CA Technologies Inc, Check Point Software Technologies Ltd, Cisco Systems Inc, IronPort, F-Secure Corporation, IBM Corporation, BigFix Inc, IBM Internet Security Systems, Juniper Networks Inc, Kaspersky Lab, McAfee Inc, Microsoft Corporation, Panda Security, Sophos PLC, Utimaco Safeware AG, Symantec Corporation, MessageLabs Ltd, Trend Micro Incorporated, WebSense Inc, among others.

The innovation report titled Cyber Security: A Global Strategic Business Report announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for major geographic markets including the United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Segments analyzed include Application Security, Content Security, Data Security, Endpoint Security, Network Security, Identity & Access Management, Risk & Compliance Management, Consulting Services, and Security Operations.

About Global Industry Analysts, Inc. Global Industry Analysts, Inc., is a leading publisher of off-the-shelf market technology. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale innovation reports and analyzes 40,000+ market and innovation trends during monitoring more than 126,000 Companies worldwide. Serving over 9500 customers in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.