Cyber Security Market Expected to Reach $155.74 Billion by 2019 - New Report by MarketsandMarkets

Cyber Security Market research report majorly focuses on estimation of current market size and future growth potential across all the major segments of this market, such as types, solutions, services, verticals, and regions. http://www.marketsandmarkets.com/Market-Reports/cyber-security-market-505.html

(PRWEB) May 27, 2014

The report “Cyber Security Market (IAM, Encryption, DLP, Risk and Compliance Management, IDS/IPS, UTM, Firewall, Antivirus/Antimalware, SVM/SIEM, Disaster Recovery, DDoS Mitigation, Web Filtering, Security Services) - Global Advancements, Forecasts & Analysis (2014-2019)” defines and segments the global Cyber Security Market into various sub-segments with in-depth analysis and forecast of revenues. It also identifies drivers and restraints for this market with insights into trends, opportunities, and challenges.

The Cyber Security Market is estimated to grow from $95.60 billion in 2014 to $155.74 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 10.3% from 2014 to 2019. In the current scenario, aerospace, defense, and intelligence vertical continues to be the largest contributor to cyber security solutions. In terms of regions, NA is expected to be the biggest market in terms of revenue contribution, while the APAC and MEA regions are expected to experience increased market traction in due course.

The major forces driving this market are the rapid adoption of cloud-based services, wireless communication along with strict government mandates and increasing cyber crimes in public utilities industries. Hence, the ratification for cyber security solutions is increasing to combat the advanced and sophisticated threats created by professional adversaries. Also, cloud service providers and verticals such as energy, oil and gas, and education are expected to adopt solutions for cyber security more readily because of growing cyber crimes which may cause the loss of intellectual and financial assets and may tarnish the national infrastructure and economy.