The Cyber Security Market Remains Uphill Inclination

In the MarketsandMarkets taxonomy, we define Cyber Security market as – Cyber security is a set of technologies & solutions, tools, policies, security concepts, guidelines, risk management approaches, and professional services. Cyber security products are defined by their capability to provide access management, authentication procedures, detection and responses to incidents, security updates or patch management, data recovery, mitigation of impacts, and risk and compliance management. The products are primarily responsible for protecting location where information and communication systems are placed, which consists of servers, storage, network equipment’s and virtual machines.

North America is expected to account for the largest market share, with ~40.0% of the global cyber security market in 2015, followed by Europe. The overall cyber security market is quite fragmented due to the presence of small and big players in the market. Being advanced in the technological arena, North America is always on the top in terms of early technology adoption. This is the reason for its having the maximum market size. Although all the regions are growing at a good pace, Latin America is expected to grow at a considerably high rate during the forecast period, with a CAGR of ~14.0%.

North America is expected to account for the largest market share (~40%) of the overall cyber security market in 2015 and is estimated to grow at a CAGR of ~6.0% from 2015 to 2020

  • North America and Europe are estimated to be the top regions in terms of growth rate, whereas APAC is expected to continue attracting more and more cyber security vendors and come close to Europe by 2020
  • Latin America and the MEA are expected to gain increased traction during the forecast period
  • Latin America is the fastest growing region in the global cyber security market and is poised to grow at a CAGR of ~14.0% to reach a market size of ~$12.0 billion by 2020
  • Factors such as organizations promoting BYOD, ICT growth at a fast pace and customer-based continuous increment for Internet-based applications are driving the market of cyber protection against intellectual and financial data theft across the globe

According to the Business Software Alliance report, 57% of the world’s computer users confess using pirated software. Microsoft has launched a new anti-piracy campaign in China, which intends to highlight the security risks of buying counterfeit software. In a recent investigation, Microsoft purchased 169 Personal Computers (PCs) from shops in China and found that all were installed with pirated versions of Windows, with 91% of them containing malware or deliberate security vulnerabilities. The top three countries with the highest piracy rates are Venezuela at 86.0%, Indonesia at 84.0% and China at 75.0%. Despite the huge threats from piracy, people prefer pirated software due to price sensitivity. Most people use pirated software because the original versions are expensive and it is understood that legitimate software is not cheap. The continuing usage of these pirated security software is one of the biggest restraints that hampers the growth of the cyber security market.

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