DUBLIN, IRELAND: A recent Research and Markets report states that the market for security portfolios such as data encryption, authentication, security and vulnerability management, DDOS mitigation along with various others are experiencing a boom phase because of an increase in need for a secure and resilient cyberspace.
The dependence on information and communication technology is the prominent feature of today's modern and interconnected society and economy. The government, public utilities, and enterprises are dependent on internet, wireless and cloud based services.
With this dependency, the cyber attacks have shown exponential increase in the past few years and have generated the need for unified cyber security solutions to support the enhanced enterprise mobility and strict data disclosure laws.
The rapid adoption of cloud computing, data center, and wireless communication, strict government compliances on data privacy, increasing threat in public utilities along with the rapid increase in sophistication of cyber attacks demand for integrated cyber solutions are expected to create extensive market opportunities for the cyber security solution vendors during the forecast period.
The players aggressively active in this domain are Cisco, IBM, Booz Allen Hamilton, CSC, Lockheed Martin, Northrop Grumman, Symantec, Sophos, Trend Micro, and McAfee. These players along with the others present in the market are expected to develop more advanced and user-friendly solutions to combat the negative mission of professional adversaries and thus create notable market traction in the forecasted period.