Cyber Security Market Sluggish Growth Rate by 2020

Cyber security is related to information technology security, which focuses on protecting networks, computers programs and data from unauthorized access. Defense and military, government, financial institutions and corporation etc. collect and store confidential information on computers and transfer that data across networks. In order to protect this data and information from cyber attack cyber security becomes necessary. Increasing threats such computer intrusion (hacking), virus deployment and denial of services are increasing the demand for cyber security solutions and services. The governments of various countries such as U.S., Canada, Germany and China etc. are increasing their investment in cyber security due to expansion in computer interconnectivity and dramatic in computing power of government network.

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The cyber security market report contains the global scenario of this market discussing detailed overview and market figures. The research report analyses the industry growth rate, industry capacity, and industry structure. The report analyses the historical data and forecasts the cyber security market size along with key factors driving and restraining the market growth.

The Cyber security market can be segmented into four major types into security, services, solutions and applications. The Cyber security market is segmented on the basis of types of security which includes six major categories namely network security, application security, endpoint security, cloud security, content security and wireless security. The services segment includes consulting services, risk assessment services, designing and integration services and training services. On the basis of solutions, ten major categories namely risk and compliance management, identity and access management, data loss protection, firewall, IDS, Unified threat management, encryption, antimalware and antivirus, web filtering and others (security and vulnerability management, DDOS mitigation and disaster recovery). The cyber security market can be segmented on the basis of applications into six categories namely defense and military, BFSI (banking, financial services and insurance), public utilities, healthcare, telecom and IT and others (retail and manufacturing). The market can also be segmented geographically into North America, Europe, Asia Pacific and Rest of the World (Latin America, Middle East and Africa).

The cyber security market across the globe is a multi billion market and is expected to show a substantial growth in CAGR, from 2013 to 2019. There is a significant increase in the cyber security market because cyber security solutions increase cyber speed and offers number of options to save data.

The key drivers of this market include Government regulation on data privacy, increasing cyber threats and increasing number of data centers, which are the biggest revenue generators for Cyber Security Market. The key restraints to this market are lack of awareness and availability of pirated security software.

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Some of the key players in the Cyber Security Market are IBM International, Booz Allen Hamilton, Cisco, Lockheed Martin, McAfee, CA Technologies, Northrop Grumman, Trend Micro, Symantec and SOPHOS among others.

Cyber security market offers various benefits such as improved security of cyberspaces, increased cyber-defense and faster response time to national crisis. These benefits of cyber security market automatically increase value of service to the end-users.

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