Growth of Data Storage Raising Demand for Antivirus Market

According to a recent business intelligence report from IndustryARC, a research and consulting firm, the revenue in the antivirus software market will grow at a healthy CAGR of 20% in terms of value over the forecast period of 2018 to 2023. The report is titled “Antivirus Market : By Deployment (In premises, On cloud, both); By Source (Paid, Unpaid); By Installation type (On access, On demand, Hardware); By End User (Consumers, Businesses); By Type of market (Offline, Online), By Platform (Laptop/PC, Mobile/Tablet); By Functions (Virus Detection, System Analysis, Malware Removal, File Quarantine, Online Security, Threat Identification, Data Protection, Others ); By Geography - Forecast(2018-2023).” The major key players in the market are Bitdefender, Kaspersky, and  Nortan. Moreover, some common antivirus used for system security are AVG, Avast, and McAfee antivirus.

Antivirus software is used to prevent and remove malwares such as computer viruses, ransomware, trojan horses and keyloggers to enhances the computer system’s performance. As per Microsoft annual report (2017), more than 100 million people use Office 365 commercial and more than 27 million consumers use Office 365 Home & Personal across devices. The abundance use of mobile phones, PC’s and other electronic gadgets tailgated by data breaches is proliferating the demand for antivirus solutions. 

Enterprise security is on pace and is forecast to stroke the antivirus market demand and escalate awareness for paid antivirus solutions, similarly, the flourishing smartphones arcade will lodge new opportunities for market vendors in the individual segment. A prominent market player, Kaspersky, states that about 282,807,433 unique URLs were recognized as malicious and computers of 179,934 unique users were registered for ransomware attacks by May 14, 2018 and the figures are anticipated to grow, which sequentially will increase the demand in the antivirus software market.

Increasing use of internet services has ascended the popularity of cloud-based antivirus. As per the United Nations report, 70% of global population by 2017 had mobile broadband subscription. Cloud security segment is the latest innovation for internet security solutions. By relying on cloud technology to process and scan data, the user only needs to scan the system periodically which eventually cut back the amount of processing power to keep a system safe and user-friendly. Microsoft in the year 2017 accumulated $18.9 billion via commercial clouds which is a positive indication for the cloud security market.

Indian government in 2017 launched a new campaign under the Digital India initiative, “Cyber Swachhta Kendra” (Botnet Cleaning and Malware Analysis Centre) to create secure cyberspace by detecting and notifying botnet infections correspondingly. It is being operated by the Indian computer emergency response team (CERT-In) under provisions of section 70B of the Information Technology (IT) act, 2000. Such developments by governments are very effective in spreading awareness among internet users and diverting traffic towards the antivirus market.

Endpoint security is the novel technology designed to secure each node of the network created by connected .devices. It consists of a central node that manages and access other end nodes. This security system is gaining traction owing to the remote access it delivers. IBM, a leading market player in endpoint security solutions delivered revenue of $79.1 billion in 2017. Such solutions are employed in organizations to restrict certain website access to users in order to maintain and work in compliance with the organization's policies and standards.

With Microsoft delivering $90 billion in revenue and 6 billion smartphones estimated to enter the market by 2020, the global antivirus market demand is rapidly increasing to prevent and remove malware that affects the system performance. The extensive use of electronic gadgets is the key factor driving the market. Cloud security and Endpoint security are the latest technologies contributing a major share in the market.

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