According to a report available on Radiant Insights, Inc.; the internet security market is likely to expand progressively by 2022.
Factors such as rise in use of internet due to development in wireless communication technology, growth in online financial activities, and presence of strict government regulations can drive the market during the forecast period (2018 to 2025). Development of new technologies is likely to increase new security risks, which will fuel the demand for new security solutions in the coming years.
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Growing development of new threats to target networks or devices is on the rise. Mobile devices are most preferred by majority uses for web browsing, online purchases, e-mailing, among the others. Mobile devices are at high prone to cyber-attacks due to high adoption of these devices for personal and business tasks. Thus, increasing cyber threats towards cloud computing systems, government offices, data centers, financial service providers, and cloud computing systems are extensively driving demand for effective internet security firewalls, thereby driving the market growth. High adoption of cloud technology, Big Data, and IoT across the organizations especially, SMEs has increased the demand for effective internet security solutions. Growing adoption of IoT is considered as the major trend fuelling the market growth. IoT is an interconnection between device enables exchange of large volumes of information stored on the cloud. IoT allows communication between devices systems and services and helps to transmit data over the connected channel. Involvement of wireless technology in IoT based application is at high risk to cyber-attacks, which is likely to supplement the market growth in the years to come.
However, Lack of expertise, high costs of cyber security products, and low awareness level regarding cyber-attacks is also expected to hinder the market growth.
Geographically, the internet security market can be divided into Americas, APAC, EMEA.
The U.S. is considered as one of the attractive markets. Factors such as high adoption of internet-enabled devices, availability of high-speed internet, growth in mobile data traffic can drive the regional market. South East Asia and other emerging Asian countries such as India and China are likely to show lucrative growth and expected to provide better opportunities in the coming years. Europe is also expected to display notable growth due to high awareness about threats associated with cyber-attacks and government efforts to tackle such threats.
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Key companies operating in the internet security market include Symantec, McAfee, Trend Micro, AVG, and Avast Software. Major vendors are adopting strategies such as merger and acquisitions to expand their portfolio and gain major market share. Players are taking more efforts to evaluate vulnerabilities present in older technologies, which are still preferred by the users.
For instance, Bkav Corporation recently launched the newest version of Bkav Internet Security antivirus software. The software is integrated with cloud computing technology, artificial intelligence (AI), to automatically, analyze, initial detect risks, remove virus and can be able to protect system against spyware in order to protect users’ data and accounts. The software is also integrated with new technology called Anti-CoinMiner for protecting users against cryptocurrency miner malware.
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