Global Counter Cyber Terrorism Market 2018: Key Players – AO KASPERSKY LAB, CISCO, DELL, DXC TECHNOLOGY COMPANY, IBM, INTERNATIONAL INTELLIGENCE LIMITED, LEIDOS, NEXUSGUARD

Counter cyber terrorism market is expected to reach about USD 38 billion by 2023. The report discusses the various types of Counter Cyber Terrorism solutions. While the regions considered in the scope of the report include North America, Europe, and various others. The study also emphasizes on how rising digital security threats is changing the market scenario.

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Cyber terrorism has gained tremendous attention nowadays due to the increasingly high amount of coverage by various institutions especially those from the public and private sectors. They have recognized the disastrous impacts that cyber terrorism is capable of and thus it has become important to increase awareness on the subject among the general public in order to mitigate the threats posed by cyber terrorism more efficiently. In the digital 21st century, where everything is interconnected, from smart phones to laptops, makes them more prone to attacks by cyber criminals. The fact that threats of cyber terrorism can come from so many different sources sometimes makes it a difficult task actually to defend. However, with proper planning and strategic security implementations, the chances of cyber terrorism attacks from happening can be significantly reduced.

Rising Demand for Cyber Security Measures in Asia-Pacific to Drive the Market

In China, increasing adoption of public cloud computing is leading to more and more enterprises re-allocating their business systems to cloud platforms. Issues regarding data security, tenant isolation, access control has become a focal point of these enterprises. Also, information security budgets for Chinese companies neared USD 8.5 million in 2016 (1.6% of their IT spending) significantly higher than the global average of USD 5.1 million. Similarly, India experienced a 68% rise in cybercrime registration from 2010-2016 and ranking 5th in the world regarding DNS hijacks. As a result, efforts are on from the government’s end and enterprises in combating the cyber terrorism threat.

Key Developments in the Market

• November 2017 - Pool Re announced that from April 2018, it would extend its cover to include material damage and direct business interruption caused by acts of terrorism using a cyber-trigger
• September 2017 - Siemens and PAS announced a global strategic partnership to provide essential industrial control system cyber security and fleet-wide, real-time monitoring of control systems

The major players include –

AO KASPERSKY LAB, CISCO SYSTEMS, INC, DELL, DXC TECHNOLOGY COMPANY, IBM CORPORATION, INTERNATIONAL INTELLIGENCE LIMITED, LEIDOS, NEXUSGUARD LIMITED, PALO ALTO NETWORKS, INC, RAYTHEON COMPANY, SAP SE, and SYMANTEC CORPORATION, amongst others.

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Growing Digital Security Threats to Drive the Market

The digitalization of information and procedures and the growing penetration of internet platform across the globe has increased the risk for cyber terrorism. The increasing interconnected world and the adoption of digital technologies and processes (cloud, big data, mobile, IoT, and Artificial intelligence) in areas of business and society have changed everyday life and revolutionized the way they run. The growing connectivity of everything, brings greater challenges on the level of security, compliance and data protection, and increases risk of cyber terrorism. Moreover, regulations, such as the GDPR that want to make sure organizations effectively tackle them. Also, cyber criminals are working on new techniques for getting through the security of organizations, accessing everything from IP to individual customer information. This increases the need for effective measures, driving the counter cyber terrorism market.

Rising Demand for Cyber Firewall to Drive the Market

With the advent of new next-generation features like application identification and control, firewall technology is evolving to become more flexible and secure. Firewalls have been providing the first line of defence in network security infrastructures for a long time by comparing corporate policies about users' network access rights to the connection information surrounding each access attempt. Moreover, the rise of the firewall is expected to be driven by the increasing compliance guidelines and regulations to prevent external and internal threats. Also, due to the increasing number of internal threats, users are now deploying firewalls in their internal networks especially between trust boundaries, switches, and back-end servers. Further, the market is expected to be driven by the increasing number of cyber terrorism and rapid rise in data theft.

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