Global Internet Security Market Outlook:
In this era of digitally connected devices and communication breaking all barriers, imagining a world without internet is beyond the analytical faculty of our mind. As per the United Nations report, the year 2017 witnessed mobile broadband subscriptions approaching 70 per cent of global population and the estimation for 2020 is that the number of networked devices (the ‘Internet of Things’) will outnumber people by six to one. In the realm of a progressively connected era in which the internet is becoming an integral part of assessments universally, effective internet security plays an unquestionably-acute role. Capitalizing on the risk associated with our personal and financial data being regularly uploaded, the global internet security market size amounts to an astonishing $140 billion to $150 billion as of 2018, and the demand is estimated to growing at a CAGR of 8% during the forecast period of 2019 to 2025.
Global Internet Security Market Overview:
Cases of Trojan, malware, and spyware intrusion is on the rise and countries are changing their internet protocol. Mounting reliance on information and communication technologies, buds the risks and hence Telecom sector has emerged as the major application industry growing with a CAGR of 10% going through 2025. As a consequence of persistently surfacing challenges and cyber threats, all participants require to have the obligatory capabilities and action plan in the form of internet security to address such risks. The market is forecast to gain tremendous revenue due to ubiquitous connectivity stride and legislation enforcement by governments and organizations as a response to huge chunk of world economy ($11.5 trillion, 2016, The Wall Street Journal) floating over the Internet.
Global Internet Security Market Growth Drivers:
- The United States Office of Personnel Management in 2015 was breached by Chinese hackers resulting in theft of 22 million personnel records of federal workers. In FY 2016 government agencies reported 30,889 incidents relevant to information security. Owing to such breaches and loss of digital valuables, the U.S government is articulating legislation supporting the employment of internet security. A classic example is the coalition between America and Russia regarding first-ever bilateral agreement on confidence-building measures in the cyber domain. Such events highlights the threats and issues, making people aware and transforming them into a potential customer for the internet security market companies. Owing to such factors, an acute regional analysis in this report states North America as a dominant region with nearly 40% of the global internet security market under its territory.
- Cyber Security Breaches Survey 2017, monitored by the government of the UK, concluded that an exceptional 46% of all businesses acknowledged at least one breach or attack in the preceding year. The most common types of breaches were fraudulent emails (72%), followed by viruses and malware (33%) and ransom ware (17%). As a consequence 90% businesses are vigilant towards internet security and employing it for regularly updating their software and malware protections and configuring firewalls.
Global Internet Security Market Challenges:
With the advent of AI, cyber attackers are now utilizing it along with machine learning to perform undetectable and tough to prevent cybercrimes. To counter such enhanced form of intrusion with a budget-friendly internet security products is a challenge prevailing in the marketplace. The call for innovative and efficient internet security is all set to surface in the coming years.
Global Internet Security Market Players Perspective:
Some of the key players mentioned in this report are NTT Com Security, NGC Group, Secure Link, Cisco, Symantec, Palo Alto Networks, Checkpoint, Microsoft, McAfee, Trend Micro, Sophos, Dell and SecureWorks.
As per a January 2019 press release by Dell, to combat the cybersecurity skill gap and help organizations address these challenges, the company reinvented endpoint security portfolio through strategic collaborations with Secureworks and CrowdStrike. It introduced Dell SafeGuard and Response, a portfolio of next-generation endpoint security solutions.
Global Internet Security Market Trends:
- Microsoft in the annual report of 2018 declared that cybersecurity is the central challenge of the digital age, and they are innovating to provide end-to-end security for their customers with security operations at global scale that analyze more than 6.5 trillion security signals each day. Microsoft leads the Cybersecurity Tech Accord, which has been signed by 61 global organizations, and are calling on governments to do more to make the internet safe.
Internet Security Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Internet Security Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of equipment in the Internet Security Market, and their specific applications in different phases of industrial operations.
Internet Security Market Report: Industry Coverage
Types of Solutions Internet Security Market:
By Securities- Cloud security, Content security, Application security, End point security, Network security, Wireless security
By Applications- Unified thread management, Firewall, Antivirus and Antimalware, Intrusion Detection system, Identify and access management, Risk and compliance management, Disaster Recovery, Security and vulnerability management, Web Filtering and Distributed Denial of service mitigation
By Functional Area- Banking, Financial service and Insurance, Government, Healthcare, Manufacturing, Telecom and IT, Retail, Academia & Research, Aerospace and defense & Intelligence
The Internet Security Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia