Global Cyber Security Market Expected To Reach $168.3 Billion By 2020 At A CAGR Of 11.3%

Date: 2016-09-17

In recent years, 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.

According to the data estimate the global cyber security Market to grow from $98.2 Billion in 2015 to $168.3 Billion by 2020, at a CAGR of 11.3%. 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. According to the data estimate 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.

Although cyber security spending will continue to be dwarfed by defense budgets (even as they shrink), such spend is expected to grow continuously, particularly in Europe, Asia Pacific, and other regions outside the United States. The public sector and utilities are expected to account for the largest share (30%) of the cyber security market by 2017.

Expected growth of cyber security:
Overall, the landscape of cyber security is changing already. The market is dominated by three main groups of players: classic security vendors like Symantec, aerospace and defense companies like BAE Systems, and systems integrators like AT&T. Even though aerospace and defense companies are currently active in cyber security, the market is fragmented and culturally distinct from their traditional businesses. Cyber warfare is currently integrated into traditional warfare and is not expected to dominate overall spend. And although it will  represent an important proportion of defense and IT spend in the future, it is not expected to become more important than conventional weapons and defense instruments.

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.

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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

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