Global Cyber Security Market worth $120.1 Bn by 2017

Thursday 12 July 2012, Amsterdam

According to a new market research report "Cyber-Security Market - Global Forecast & Trends (2012 - 2017) by Advanced Technologies, Geographical Analysis & Competitive Landscape ", the Cyber security market is expected to reach $120.1 bn by 2017 at a CAGR of 11.3% from 2012 to 2017.

Cyber security has rapidly evolved from a technical regulation stage to well-planned conception. Cyberspace today is powered by a gamut of devices, applications that have made it vulnerable to threats from all kinds of users or miscreants such as students, spies, hackers, propagandists, and terrorists. Cyberspace is being used for all kinds of activities be it to gather information, raise funds, communications, or public relations all of which have been digitized in the current globalized economy.

As a result, every kind of political and military conflict now has a cyber dimension, the size and outcome of which are complex to forecast, hence making battles fought in cyberspace as imperative as battles occurring on the ground. As hacking is booming and garnering ever-increasing media attention, attempts to target vital international defense installations can neither be ruled out nor mitigated successfully without significant cyber security measures.

Cyber security is an executive level about information security in the electronic/digital era, and a recommended structure to address the threats and vulnerabilities present at each of the layers that make up a communication infrastructure and distinctive information. Cyber Security includes the development of security types, services, and technology & solutions, which can also lead to offensive applications. These applications are basically designed for defense & aerospace use, and are often also referred to as cyber defense or cyber weapons. Cyber security is not only used in the IT domain (primarily internet protocol or internet connected devices), but also industrial equipment and telecoms equipment.

The global cyber security market is expected to grow from $63.7 bn in 2011 to $120.1 billion by 2017, at an estimated CAGR of 11.3% from 2012 to 2017. Companies such as Cisco Systems, Inc. (U.S.), Check Point Software Technologies (Israel), Kaspersky Lab (Russia), Fortinet, Inc. (U.S.), IBM Corporation (U.S), CA Technologies (U.S.), and McAfee, Inc. (U.S.)., and Symantec Corporation (U.S.) are key market players.

The report provides in-depth analysis of various industry verticals such as BFSI (banking & financial services institutions), public sector & utilities, manufacturing, it & telecommunication, healthcare & life-sciences, retail & wholesale distribution, and others. Also describe the emerging trends in cyber security across geographies.