Global Internet Security Market is expected to reach $42.8 billion by 2020, at a CAGR of 8.1% during
The applications of the security solutions in education segment are expected to grow at 13.9% CAGR amid the estimated period Asia-Pacific region would be the most attractive markets.It is expected to attain $12.2 billion by 2020, at 13.9% CAGR .The use of internet security in educational departments should grow immensely, particularly in the Asia-Pacific market at a 19.2 % CAGR
Big Market Research adds a report titled “Global Internet Security Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020.” The report states that the market would attain a value of $42.8 billion by 2020 with a CAGR of 8.1% during the year 2014 – 2020. As of now, software solution dominates the market. However it is mentioned in the report that the cloud based system would register more growth during the forecast period.
The widespread application of internet based technology across various departments like government, retail, IT & telecommunications, & BFSI given rise to concern arising out of threat of malware, spam & virus.
Cybercrime Practices botnets, malware, unethical-hacking, distributed denial of services (DDoS), spams, spyware, viruses and other similar threats, are expected to reach a figure of $1 trillion, globally.
Some time back, at an International Security Conference, which was held in Europe, critical issues were discussed against 'Malvertising'. It is the technique used to distribute malware on prominent websites using advertising networks which are online. Due to huge online financial transactions and its exposure to various security threats the internet security market would grow immensely. Software security solutions amount to around 80% of the total internet security market revenue, as these are extensively used by corporations as well as individual users. Top industry players such as HP, Intel and Symantec prefer to invest in developing cloud based security solutions. Due to these efforts managed services is expected to grow at 28% CAGR amid the estimated period which is highest and will cross the revenue due to the hardware segment.
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Main findings of the report
The main growth areas are government organizations & education sector, BFSI, retail, during the forecast period (2014 - 2020).
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