HOME Research Insight Rapid adoption of cloud computing, wireless communication, and data centers enhancing the demand for cyber security solutions

Rapid adoption of cloud computing, wireless communication, and data centers enhancing the demand for cyber security solutions

With approximately four times more clients outsourcing at least a third of their IT infrastructure to cloud vendors, cloud computing is realized to be one of the major drivers in the expansion of cyber security market. The changes in business model such as adoption of Bring Your Own Device (BYOD) in offices, along with the use of mobile and web devices in educational and public utilities demand for 24 hours of network availability and have become a matter of concern because of an increase in need to protect confidential data of an organization.

These changes in a working environment demand multilayered protection of sensitive data and strict authenticated management of access to information available across the network. By utilization of cloud, wireless communication, and data center as a processing and storage powerhouse, data loss protection and data recovery management against leaks and hacking threats can be realized up to a very large extent. Furthermore, the advancements in virtual machine isolation, client authentication, and secure opportunistic computing are expected to facilitate the adoption of cloud computing, wireless security, and data center which in turn will boost the demand for advanced security solutions in the coming years.

MarketsandMarkets considers companies such as Cisco, CSC, Booz Allen Hamilton, Northrop Grumman, Lockheed Martin, Symantec, Sophos, IBM, McAfee, and Trend Micro to be the key players in the cyber security market. Many other companies such as Checkpoint, Kaspersky, Panda security, and others are increasingly providing innovative cyber security solutions.

Cyber security solutions are also being used by cloud service providers and organizations belonging to verticals other than aerospace and defense, government and public utilities which includes telecommunication, Information Technology (IT), healthcare, retail, education, manufacturing, Banking, Financial Services, and Insurance (BFSI) among many others. The adoption of cloud and wireless applications across a range of verticals is expected to increase the protection of networks which in turn will further drive the deployment of cyber security solutions across various enterprises in the forthcoming years.

The North American market has already seen the deployment of cyber security solutions due to the rapid adoption of enterprise mobility in the region. In the near future, MarketsandMarkets expects the market for cyber security to rise in emerging economies such as Asia Pacific (APAC) and Middle East and Africa (MEA) due to continual growth in the number of mobile devices by the huge population across these economies along with the unregulated use of internet. MarketsandMarkets expects North America (NA) to retain its position as the highest revenue generator for cyber security market, while significant revenue growth is expected from APAC and MEA region. MarketsandMarkets forecasts the global cyber security market to grow from $95.60 billion in 2014 to $155.74 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 10.3%.

Related Reports:

Cyber Security Market (IAM, Encryption, DLP, Risk and Compliance Management, IDS/IPS, UTM, Firewall, Antivirus/Antimalware, SVM/SIEM, Disaster Recovery, DDoS Mitigation, Web Filtering, Security Services) - Global Advancements, Forecasts & Analysis (2014-2019)

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