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3. Cyber Security Market - The professional approach of cyber criminals, highly interdependent supply chain management

The realization of cyber security measures to drive efficient and innovative business growth has been increasing across multiple industries such as aerospace, defense, intelligence, government, public utilities, healthcare, Banking, Financial Services, and Insurance (BFSI), telecommunication, retail, manufacturing and so on. Among the most important industries, aerospace and defense accounts for the largest market share during the forecast period owing to the increase in need to protect sensitive information regarding government, prime contractors, and suppliers.

The professional approach of cyber criminals, highly interdependent supply chain management, growing cyber attacks on critical infrastructure of aviation and defense are the main dangers to a nation’s critical networks and supply chains leading to theft of proprietary data. Transglobal strategic alliances, proactive measures, substantial investments, technological advancements along with new legislations are the key factors behind the continual increase in the adoption of cyber security solutions across aerospace and defense industry.

Government and public utility is another major vertical showing increasing demand for cyber security solutions owing to the increase in the number of cyber threats and risks posed to data confidentiality and integrity. Proactive cyber threat analysis, strategic alignments, and engagements with other international bodies are improving the cyber security system design and governance and eventually making it easy to be adopted by public sector units.
However, there are a few other revenue pockets, namely manufacturing, BFSI, and retail, which will witness significant growth in the forecast period.

The extensive competition among manufacturing companies such as pharmaceutical and automotive are promoting industrial espionage against each other’s new product developments, intellectual property, financial assets, and remote manipulation of machinery. The broad range of technology and system integration services are prospected to ensure the business networks of the sector to be secured.

BFSI institutions on the other hand are also facing unique challenges in the context of competition, growing compliance requirements, and evolving cyber threats. Such organizations are leveraging cyber solutions to achieve strategic business objectives and protection of assets and facilities against cyber disruptions. Presently, all major verticals are showing demand for different security requirements in the form of legal aspects and industry-specific processes and are taking serious measures for rapid adoption of cyber technologies in the near future.

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)
https://www.marketsandmarkets.com/Market-Reports/cyber-security-market-505.html

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