Cyber Security – Summary
Cyber Security is popular by alias like IT security, cyber security or computer security. It is of utmost importance in the present day business world. The instances of cybercrime have gone up in the past few years, which is why this concept has become pivotal for every enterprise. The demand for this form of security has risen dramatically over the last year. Thanks to all of these factors, the global cyber security market is gaining impetus.
In layman terms, the concept of cyber security can be explained as a wall of protection for the computer systems. It safeguards a computer from being damaged or stolen. It can protect the hardware, sensitive data and software of the system. Furthermore, it can also avoid misdirection or interruption of the services that are being provided through the computer.
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Cyber security is the need of the hour because in the modern era every industry depends on computer systems and has an online presence i.e. uses internet. Many business owners have started investing in this technology as they want to ensure optimal security for their business in every business. Thus, on the whole it can be concluded that cyber security is a pretty useful and efficient technology with great future potential.
Market Scenario
At present the business sector is experiencing an all-time high demand for better security measures. Owing to this fact one can confidently assume that the global Cyber Security Market will experience tremendous growth in the upcoming years. It is believed that during the forecast period of 2018-2023, the market will tread forward at an impressive CAGR. Furthermore the market’s revenue is also anticipated to double by the end of this period.
There are many growth drivers that are responsible for the development and success of this market. The upsurge in the rate of cybercrime and advanced hacking tactics happen to be one of the major growth factors for this industry. Another factor that further drives the growth of the market is data protection directives.
Additional factors that work in the favor the market are the higher demand for trends like Bring Your Own Device (BYOD) and Internet Of Things (IoT) and surging deployment of web and cloud-based business applications.
Key Players
The key players in the market of cyber security are- Cisco Corporation, Mcafee Corporation, Fortinet Inc, Trend Micro Inc, Cassidian Cybersecurity Company, Computer Science Corporation, , Booz Allen Hamilton Corporation, Kaspersky Lab, Fireeye inc, Symantec Corporation among others.
Global Cyber Security Market – Segmentation
The Global Cyber Security is segmented in to 5 key dynamics for the convenience of the report and enhanced understanding
- Segmentation by Solution: Comprises Identity and Access Management, Risk and compliance management, encryption, Data Loss Prevention (DLP), Unified Threat Management (UTM), Firewall, antivirus/anti-malware, Intrusion Detection System (IDS)/Intrusion Prevention System (IPS) among others
- Segmentation by Service: Comprises Design Services, Consulting Services, Risk Assessment Services, and Training Services among others
- Segmentation by Security type: Comprises Network Security, Endpoint Security, Content Security, Application Security, Industrial Control System Security and Cloud Security
- Segmentation by Deployment: Comprises of on-premise and cloud
- Segmentation by Vertical: Comprises Telecommunication, BFSI, Manufacturing, Aerospace and Defense, and Healthcare among others.
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World
Global Cyber Security Market: Regional Analysis
North America leads the market for global cyber security market, due to the technical advancements and early adoption in this region. Owing to the increasing cyber-crime and strict government rules against it many of the companies started to develop and deploy cyber security techniques. In Asia Pacific the market for global cyber security is anticipated to grow at a faster rate through the forecast period. The primary forces driving this growth are increased adoption of mobile and web based applications in countries like China, Japan and India.
Cyber security has become a national concern for countries like the Europe, U.S. and China. In China, for instance, implemented a new cyber security law in May 2017, which has organizations the world over concerned with data sharing and handling. The Europe, U.S. and other countries will likely see new legislation to boost security and data protection soon as well.
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Industry Updates:
Nov 2018 The Commonwealth Government’s Joint Cyber Security Centre (JCSC) has now opened in Adelaide. The JCSC will help to protect Australians from malicious cyber incidents better. The new facility expands the footprint of the government’s $47 million national Joint Cyber Security Program and Australia’s Cyber Security Strategy. It is part of Australia’s lead cybersecurity agency, the Australian Signals Directorate, and its Australian Cyber Security Centre (ACSC).
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