London, 19 May 2014: TechNavio pinpoints a need to improve protection against an increasing number of complex and vicious cyber threats as a key factor driving significant growth in the Global Cyber Security Market.
The independent tech-focused global research firm has published a report on the cyber security market, which is projecting a CAGR of 11.81 percent from 2013-2018.
The frequency of high level security threats like SQL injection attacks are increasing. In response, end-users are taking action to protect their data against cybercrime.
Advanced Persistent Threats Necessitating Higher Level Cyber Security Knowledge
As a result of the increase in the complexity of cyber attacks, the market is witnessing a rise in advanced persistent threats (APTs). These can affect an organization’s entire IT infrastructure and tend to target critical installations, such as government departments, web servers, and customer databases. These threats are generally detected only after the attack. Hence, to better secure their networks, companies from many industries are adopting network security solutions.
However, according to the recently published TechNavio research, with an increase in attacks, enterprises are seeing an urgent need to improve not only the breadth of protection but the quality as well.
“Solutions such as next-generation firewalls and deep packet inspection engines have very complex output and require some level of expertise to understand and allow action to be taken,” says Faisal Ghaus, Vice President of TechNavio.
He goes on to say, “to eliminate the investment required for training or recruiting staff especially for this task, companies are currently outsourcing security responsibilities to managed security service providers that not only have skilled staff, but are also focused on security issues, and thereby provide a better quality of protection. This kind of investment in third-party protection is expected to spur major overall market growth”.
Some key vendors in this market include:
- IB Juniper Networks Inc.
- Lockheed Martin Corp.
- McAfee Inc.
- Raytheon Co.
- Symantec Corp.
The TechNavio report also delves into drivers, trends and challenges expecting to impact market growth over the projected period.
To determine the scenario for these vendors 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.
If you are interested in more information on this topic and our upcoming research on the Global Cyber Security Market please send an e-mail to media@TechNavio.com.
https://www.technavio.com/%3Cp%3E%C2%A0%3C/p%3E%0A%0A%3Cul%3E%3Cli%3E%3Cs…
