The worldwide cybersecurity market continues to grow and grow as defined by market sizing estimates that range from $75 billion in 2015 to $170 billion by 2020.
The data comes from consolidated estimates by IT industry research and analyst firms, including these figures:
- A report by Visiongain, a business intelligence firm in London, indicates that the global cyber security market is set to be worth $75.4 billion in 2015, as high-demand continues for information security solutions.
- Research firm Gartner projects that the world will spend $101 billion on information security in 2018.
- The cyber security market is estimated to grow to $170 billion (USD) by 2020, at a Compound Annual Growth Rate (CAGR) of 9.8% from 2015 to 2020, according to a report from Markets and Markets. The aerospace, defense, and intelligence vertical continues to be the largest contributor to cybersecurity solutions.
- North America and Europe are the leading cybersecurity revenue contributors, according to a report from TechSci Research in Burnaby, Canada. Asia-Pacific is rapidly emerging as a potential market for cyber security solution providers, driven by emerging economies such as China, India and South-East Asian countries, wherein, rising cyber espionage by foreign countries is inducing the need for safeguarding cyber space.
- Million dollar plus cybersecurity deals (vendors selling to end-users) are on the rise. In a recent research note, analysts at FBR & Co., an investment banking and M&A advisory firm, indicate that the number of seven-figure (cybersecurity) deals have increased by 40% year-over-year.
- According to IDC, the hot areas for growth are security analytics (SIEM) (10%); threat intelligence (10%+); mobile security (18%); and cloud security (50%).
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