Global Cyber Security Market: Telecom companies under scanner

As more and more people become first-time internet users, onus is on global cyber security market and internet literacy to keep at bay the growing spectre of cybercrime

In a stunning development that caught most industry watchers by surprise, Indian government announced that it has directed 21 smartphone manufacturers to furnish information about the processes followed by them to ensure security of mobile phones sold in India. Top manufacturers including Apple, Samsung, Oppo, Vivo, Xiaomi, Micromax among others have received these directives following reports of security breaches and data theft. TechSci explains how this will impact the global cyber security market.

Global Cyber Security Market: An Indian Perspective

TechSci Research report “Global Cyber Security Market, Competition Forecast and Opportunities, 2011-2021”, suggests that India has witnessed one of the biggest smartphone proliferations seen in recent times. In fact, the TechSci report suggests that the number of Indian smartphone users will nearly treble from the 124-odd million users in 2014 to 2020. Internet penetration rate in India is on the same trend, and is supposed to grow from around 0.28 billion in 2014 to over 0.5 billion in 2020.

Both of these eventualities will surge the global cyber security market. In spite of the low base, over 30 thousand security incidents were reported in 2014-2015 and the number will only rise from there on. This is the major reason as to why the government has taken an especial interest in cyber security, given the relevance of India to the global cyber security market.

India is the third largest market in the APAC region vis a vis global cyber security market. Given the rising rate of internet literacy in the country, the need for such security products is bound to increase in the near future.

A Global Perspective on Global Cyber Security Market

There is no doubt that a spate of recent and highly publicized attacks has caused major global anxiety and spooked governments worldwide into taking action. The aforementioned news involving the Indian government is a culmination of the same events occurring in the global cyber security market.

Game of Thrones-HBO hack, WannaCry, GoogleDocs phishing hack are some of the cyber security threats that have reared their ugly head this year. As recently as March 2017, Yahoo’s then-CEO Marissa Mayer was punished by the company for reacting too slowly to two massive data breaches.

The two incidents together are alleged to have exposed the personal information of over 1 billion accounts and are alleged to have cost the firm around $350 million. Such incidents only go to show just how important the global cyber security market has become to the way people conduct business in the 21st century.

As of currently, the TechSci Research report claims that only around half the world is connected to the internet. As these numbers start to rise, the onus would be on companies to spread internet literacy not just to first-time internet users, but also to their own. Internet literacy in addition to the correct utilization of the services offered in the global cyber security market are the two major ways we can combat the spectre of cybercrime.
For More Details Visit : https://www.techsciresearch.com/report/global-cyber-security-market-by-security-type-network-security-content-security-etc-by-solutions-identity-access-management-risk-compliance-management-etc-by-end-use-industry-by-region-competition-forecast-and-opportunities-2011-2021/687.html

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This release was published on openPR.