Cyber Security Market Include Rapid Expansion of Advanced IT Infrastructures, Growing Adoption of Applications IoT and Industrial Internet of Things (IIoT)

As per the research, the global cyber security market is expected to reach $1,65,146.5 million by 2023. Cyber security refers to a comprehensive system of technologies, processes and practices that provides security to IT networks, computers, software programs, and data from potential cyberattacks or any other kind of damages to the system. The cybersecurity solutions are in demand from various industries including aerospace & defence, government & public utilities, banking financial services & insurance (BFSI), IT & telecom, healthcare, retail and manufacturing. These industries deploy IT infrastructures for number of critical operational processes, owing to which they require cyber security solutions.

Explore Report Description At: https://www.psmarketresearch.com/market-analysis/cyber-security-market

Major factors propelling the growth of the global cyber security market include rapid expansion of advanced IT infrastructures, growing adoption of applications of internet of things (IoT) and industrial internet of things (IIoT). Additionally, the increasing demand for cloud computing solutions from organizations and growing implementation of bring-your-own-device trend in organizations are further expected to augment the market growth. However, the increasing deployment of IT solutions by enterprises for automation and mobility of business operations leads to an increased risk of data theft and other forms of advanced cyber-attacks, that may potentially lead to the event of overall system failure. The cybersecurity solutions therefore form an essential part of organizational system infrastructure.

Click here For Enquiry Form: https://www.psmarketresearch.com/send-enquiry?enquiry-url=cyber-security-market

On the basis of components, market is categorized into solution and service, of which solutions contributed largest to the global cyber security market across the globe. However, the market for cyber security services is expected to grow at a faster rate. Cyber security services are further categorized into managed and professional services. Market for managed cyber security services is anticipated to witness the higher growth as compared to professional services. Theft of cognitive property, multiplication of mobile devices and surge in mobile workforce are some of the major factors propelling the growth of the managed security services market.

The era of digital wars among countries have begun, which may have wider implications of overall system failure in the global economies. It emphasizes the need for deployment of advanced and complex cyber security solutions into system infrastructures. For instance, Stuxnet computer virus, which was widely believed to be an American and Israeli creation, could destroy thousands of centrifuges of Iran’s nuclear program. The cyberattacks therefore may have far reaching and potentially harmful implications for nations.

P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.

As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.

Abhishek
Executive – Client Partner
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com
Web: www.psmarketresearch.com

This release was published on openPR.