Internet Security Market forecast examined in new market research report

Global Internet security market is expected to garner $46.5 billion by 2021, registering a CAGR of 8.4% during the forecast period 2016-2021. The internet has become an integral part of modern life at every instant. It is convenient to share information, data, messages, applications, etc. over the internet. A person uses the Internet at home, office, restaurants, during travel and many more places. With the increased usage of the Internet, threats are being observed across the world, which at times poses severe impact on system functionality and business operations. In order to protect the computing systems and ensure flawless execution of activities, Internet security solutions are used. Internet is an insecure channel for sharing information, as it is subjective to fraud or intrusion such as phishing. Various methods such as data encryption, firewalls, antivirus, etc. are used for protecting and transferring data over internet. The threat of internet security seems to be rising every day as more and more people and organizations around the globe are connecting to internet through World Wide Web, email, VoIP and other services. These attacks carried out are more sophisticated and keep on evolving as the technology advances.

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The major factors driving the internet security market are increased internet usage due to advances in wireless communication technology, internet security offered over cloud services, strict government regulations and increase in online financial activities. Internet security solution finds its application into various industries namely banking financial services and institutions, retail, Telecommunication & IT, Government, manufacturing sector, education, defense, aerospace & intelligence and others.

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Global Internet security market report, published by Allied Market Research, forecasts that the global market is expected to garner $46.5 billion by 2021, registering a CAGR of 8.4% during the period 2016-2021. The market is driven by the huge demand for Internet security software solutions due to the increasing number of cyber-attacks and the adoption of cloud-based Internet security systems.

The global Internet security market is segmented into product & services, technology, application, and geography. Based on product & services, the market is segmented into software, hardware, and services. In 2015, the software security solutions segment accounted for around 74.8% of the overall revenue, owing to the widespread adoption of these software solutions among individual & corporate users. However, industry leaders, such as Intel, HP, and Symantec, have heavily invested to develop cloud-based security solutions. Therefore, services segment is expected to grow at the highest CAGR of 23.6% during the forecast period.

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