According to this report the global cyber security market is predicted to grow at a CAGR of 10.65% during the forecasting period 2019-2028.
The increasing viruses and Trojan attacks among organizations are primarily driving the cyber security market growth. Attackers often use such malware to take over control of devices and make a financial gain. There is an increase in the adoption of the cloud computing model owing to its flexible infrastructure option. This is also likely to push market growth.
Also, the adoption of BYOD (bring your own device) and IoT (Internet of Things) has increased the risk of Advanced Persistent Threats (APTs), thereby instigating the demand for cyber security solutions. However, complex designs of device security are restraining the market. Also, the lack of cyber security professionals is a major challenge to market growth.
The global market report covers the countries from North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
Asia-Pacific is estimated to be the fastest-growing region for the cyber security market in the projected period. The increasing number of connected devices in the region and the technologically advanced use of mobile devices is primarily driving the growth of the cyber security in the Asia-Pacific. The escalating cyber attacks in countries like South Korea is instigating the need for the cyber security market. For example, in 2014, a cyber attack on Korea Hydro and Nuclear Power (KHNP) plant took place. Several government agencies have also been targeted before. These factors are likely to aid the studied market growth.
- Increasing Virus Threats Among Organizations
- Surge in Demand for Cloud-Based Cyber Security Solutions
- Adoption of BYOD & IoT
- Rise in Cyber Security Incidents and Cyber Security Regulations
- Complex Designs of Device Security
- Limited Budget Among SME Organizations
- Insufficiency of Cyber Security Professionals
- Sturdy Validation Functionality
- Rise in Mobile Device Applications and Platforms
- Upgrading Traditional Anti-Virus Software
- Availability of Pirated Version of Software
- Avoiding Software Upgrades
- Avg Technologies (Acquired by Avast Software Sro)
- Check Point Software Technologies Ltd
- Cisco Systems Inc
- Cyber Ark Software Ltd
- Dell Technologies Inc
- Fireeye Inc
- Fortinet Inc
- International Business Machines Corporation
- Intel Security (Intel Corporation)
- Palo Alto Networks Inc
- Proofpoint Inc
- Symantec Corporation (Broadcom Inc)
- Trend Micro Incorporated
For more information about this report visit https://www.researchandmarkets.com/r/t4uiik