IT Security Spending Market Size, Share, Competitive Analysis, Demand and Growth Opportunities by 2023; Check Point Software Technologies Ltd., Palo Alto Networks, EMC, Fortinet, McAfee and Juniper Networks

The increasing market of mobile and web platform, evolution of next-generation cyber security solutions and need of integrated security solutions are some of the growth opportunities, which contribute towards the global IT security spending market in the forecast period.

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The IT security types include network security, content security, wireless security, endpoint security, application security, and cloud security. Content security spending is driven by encryption and data-loss prevention (DLP) solutions, owing to the growing need for protecting corporate data. On the basis of services, the global IT security spending market can be segmented into consulting, risk & threat assessment, design & integration, managed security services, and training & education.

The growing shift to virtual and cloud environments and bring-your-own-technology trend represents the major advances in IT security market that are forcing businesses to rethink their security measures and fuelling product refresh cycles. Now-a-days, business data resides in a disjoint ecosystem of virtual, on-premises and cloud environments. This shift is also expected to drive infrastructure management, and security investment in near future.

The increasing trend of bring your own device (BYOD) at workplace, big data analytics, and intelligence based cyber solutions, along with the growth of social media are some of the major trends in the IT security spending market.

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Some of the major competitors in the global IT security market are Check Point Software Technologies Ltd., Palo Alto Networks, EMC Corporation, Fortinet Inc, McAfee Inc, Juniper Networks Inc., Symantec Corporation and Trend Micro Incorporated.

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