Prospect market. Worldwide spending on information security reached € 68.04 billion for 2015, an increase of 4.7% over 2014, according to the latest data from Gartner, Inc. The global cyber security market is expected to be worth € 154.32 billion by 2020. According to IDC, the hot areas for growth are security analytics / SIEM (10%); threat intelligence (10%+); mobile security (18%); and cloud security (50%). Furthermore according to a report from Markets and Markets, the cloud security market is expected to be worth € 7.9 billion by 2019. The global managed security services market is projected to reach nearly € 27.23 billion by 2020, with a compound average growth rate (CAGR)11 of 15.8% over the next five years, according to a report from Allied Market Research. The global enterprise governance, risk and compliance (GRC) market is expected to grow from € 5.2 billion in 2014 to € 10.4 billion by 2019, at a CAGR of 14.6% for the period 2014 to 2019, according to MicroMarketMonitor. A new cybercrime wave is driving Internet of Things spending, and its security market is expected to grow from € 6.25 billion in 2015 to nearly €
Prospect market. The Global Cyber security Market 2015-2025 report predicts the industry to reach € 15.7 billion by 2025 at a CAGR of 4.23%41. Cyber security is constantly evolving as new threats appear every day and attacks become more sophisticated. The rise of the Internet of Things is starting to create yet more points of vulnerability, as all manner of devices—refrigerators, pace makers, cars, etc. are becoming networked together. Penetrating one can give hackers access into all. The network security market is estimated to account for 44% of the global cyber security market. Data security and Identity and Access security are also expected to account for a significant portion of the total cyber security market during the forecast period, with shares of 25% and 16% respectively. Lastly, the cyber security industry has become keenly aware that there are not enough cyber security professionals to meet its needs. This shortage is a very significant problem for the industry as a whole and will continue to be so for the foreseeable future, especially given the rate of high profile cyber attacks. Israel is second to the U.S. as the largest exporter of cyber products. The Asia-Pacific cyber security 41 xxxx://xxx.xxxxxxxxxxxx.xxx/news/home/20160113005544/en/Research-Markets-Global-Cyber-Security-Market-2015-2025 market is expanding and being driven by DDoS (distributed denial-of-service) attacks, adoption of cloud computing and mobile devices. Cybercrime and cyber security spending are on the rise in a maturing Latin American region.42
Prospect market. Worldwide spending on information security reached € 68.04 billion for 2015, an increase of 4.7% over 2014, according to the latest data from Gartner, Inc. The global cyber security market is expected to be worth € 154.32 billion by 2020. In a recent report, Cybersecurity Ventures projects $1 trillion will be spent globally on cybersecurity from 2017 to 2021. X.X. Xxxxxx Xxxxx & Co. doubled its annual cybersecurity budget from $250 million to $500 million. Bank of America has gone on the record stating it has an unlimited budget when it comes to combating cybercrime. The U.S. government has increased its annual cyber security budget by 35%, going from $14 billion budgeted in 2016 to $19 billion in 2017 (..) Incremental increases in cyber security spending are not enough (…)businesses of all sizes and types, and governments globally, to double down on cyber protection.”25 According to IDC, the hot areas for growth are security analytics / SIEM (10%); threat intelligence (10%+); mobile security (18%); and cloud security (50%). Furthermore according to a report from Markets and Markets, the cloud security market is expected to be worth € 7.9 billion by 2019. The global managed security services market is projected to reach nearly € 27.23 billion by 2020, with a compound average growth rate (CAGR)26 of 15.8% over the next five years, according to a report from Allied Market Research. The global enterprise governance, risk and compliance (GRC) market is expected to grow from € 5.2 billion in 2014 to € 10.4 billion by 2019, at a CAGR of 14.6% for the period 2014 to 2019, according to MicroMarketMonitor. A new cybercrime wave is driving Internet of Things spending, and its security market is expected to grow from €6.25 billion in 2015 to nearly €
