London, 3 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the cyber security market in North America 2015-2019, which is expected to grow at a CAGR of 7.32% during the forecast period of 2014-2019.
Source: Technavio Research
The market for cyber security in North America is expected to show positive growth owing to the increasing frequency of cyber-attacks. As a result, multiple organizations are increasingly adopting cyber security solutions to prevent data loss. Increasing penetration of the internet and mobile devices, and increased instances of cybercrimes in the North American region are some of the major factors that drive market growth for cyber security in North America.
“Organizations find it difficult to manage stand-alone or integrated network components because of issues such as budget constraints and lack of resources and expertise to address security problems,” says Faisal Ghaus, Vice President of Technavio.
“Organizations opt for cloud-based security solutions that are cost-effective and compatible with PCI DSS regulations and offer round-the-clock monitoring of systems.”
Key Market Drivers:
- Increased Use of Mobile Devices.
- Rise in Network Security Threats.
- Need for Enhanced Data Security in BFSI Sector.
- Advanced Threats.
Key Market Trends:
- Demand for Cloud-based Security Solutions.
- Convergence of Technologies.
- Increased Market Consolidation.
- Increase in Number of DDoS Attacks.
Key Market Vendors:
- Booz Allen Hamilton Inc.
- Cisco Systems Inc.
- Computer Sciences Corp. (CSC)
- Fortinet Inc.
- General Dynamics Corp.
- McAfee Inc.
- Northrop Grumman Corp.
- Symantec Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
