Global Cyber Security Market Size, Forecast and Opportunities, 2020Released On 3rd May 2015
Over the last few years, cyber security has become extremely vital for public as well as private enterprises as cyber-attacks have become more organized and sophisticated. In addition, the number of state sponsored attacks across the globe has surged. The prime motives steering cyber-attacks are monetary benefit and access to secret information of an organization. Banking and financial services sector has been the prime target of cyber criminals over the last five years, followed by IT & telecom, defense and Oil & Gas sector. Thus, companies and governments across the globe are increasing their budget allocation towards cyber security. Countries such as the US, the UK, Japan, Singapore and South Korea have a dedicated cyber security policy in place. Therefore, investments on cyber security by these countries are expected to witness a rapid increase over the next five years. In addition, venture capital investments, and mergers and acquisitions in these countries, are also contributing significantly towards industry growth and consolidation.According to “Global Cyber Security Market Size, Forecast and Opportunities, 2020”, global cyber security market report is projected to surpass USD123 billion by 2020. Growing inclination towards cloud storage, introduction of public clouds and growing emphasis on digitization are propelling the need for cyber security across the globe. North America and Europe have been the leading revenue contributors, capturing major shares in the market in 2014. Moreover, Asia-Pacific is rapidly emerging as a potential market for cyber security solution providers, driven by emerging economies such as China, India and South-East Asian countries, wherein, rising cyber espionage by foreign countries is inducing the need for safeguarding cyber space. “ Global Cyber Security Market Size, Forecast and Opportunities, 2020” discusses the…