Global Cybersecurity Market is expected to reach USD 164 Billion by 2024by Renub Research Renub Research is a Market Research and Consulting
Cybersecurity is the
term used for the protection of network based systems, including software,
hardware and data from the cyber attacks. In a computing environment, security
involves physical security and cybersecurity. Today, almost every organization has
a robust cybersecurity infrastructure to protect themselves against unauthentic
access to their computerized systems or data centres. Cybersecurity include
data and information security which is intended to maintain the accessibility,
reliability and confidentiality of the data or information. Global Cybersecurity Market is expected to reach USD 164 Billion by the year 2024.
Basic Elements of CyberSecurity:
A robust cybersecurity
requires a proper coordination of efforts throughout the information system,
• Information Security
• Application Security
• Network Security
• Cloud security
• Mobile security
• Business Continuity Planning/Disaster Recovery
• Database and infrastructure security
• Identity management
• Data security
• Endpoint security
• End-User Education
One of the most
challenging elements of cybersecurity is the continuously changing nature of
security risks. The basic approach is to focus on the key system components and
protect them against the leading known threats. Today, this basic approach
seems unsatisfactory because the threats are getting more advanced and changes
more often than anyone can keep up. Therefore, in order to deal with such
attacks, several advisory organizations are actively promoting their more
adaptive and proactive approach. Today, organizations are using an updated
cybersecurity guideline in their risk assessment framework that suggests
unremitting monitoring and real time assessments.
Security and Vulnerability Assessment
Vulnerability Management (SVM) is a major segment of
Cybersecurity. According to Renub Research study Security
and Vulnerability Assessment market will be more than USD 14.7 Billion by 2024. Security & Vulnerability Management (SVM) market can be
bifurcated into two parts Security Management Market and Vulnerability
Assessment Market. Both these parts are further sub divided into sub
Security Management market, has been further segmented into
• Security Information and Event Management Market
• Policy and Compliance Market
• Forensic and Incident Investigation Market
Vulnerability Assessment Market has been segmented into:
• Device Vulnerabilities Assessment market
• Application Scanners market
With the increasing
number of cyber attacks around the world, the demand for cybersecurity is
increasing. Every individual or organization has opted some sort of
cybersecurity to protect themselves in this internet based world. However,
cybersecurity is more important for organizations like government, financial,
military, medical and corporate because these organizations collect process and
store an infinite amount of data on their computers or other connected devices.
A major portion of these data can be susceptible, including personal
information, intellectual property, financial records or of other types, which
any unauthentic access or exposure could have negative outcomes.
In the networking world,
whether it’s an organization or an individual, everyone transmits data across
the networks or the other connected devices in the course of doing businesses,
and cybersecurity is the only dedicated discipline that helps in protecting
their sensitive data or information and also their systems where the data is
processed or stored.
Today, the number of
digital spying and cyber crimes are increasing and are among the top threat to
national security, passing even the terrorism. As the volume and complexity of
cyber crimes grow, organizations those are specialized in protecting the data
or information relating to security, financial and medical records, need to
take steps to keep the sensitive businesses and personal information safe,
which in result increases the demand of healthy cybersecurity framework.
Further, the adoption of cloud based applications, Internet of Things (IoT) and bring your own device (BYOD) also increases the requirement of the robust
cybersecurity framework, which certainly drive Global Cybersecurity Market
positively over the forecast year (2018-2024).
- Based on Products
type the market has been bifurcated into Network Security, Identity and
Access Management (IAM),
Security & Vulnerability Management (SVM), End Point Security,
Messaging Security & Web Security. Out of all the segments mentioned,
Network Security has highest market.
- On the basis of
services, Managed Security Services covers the lion’s share. The segments
covered are Integrated Solutions, Security Consulting, Managed Security
Services and Educations and Training.
- Industry wise the
report is categorized into following segments Banking, Financial services
and Insurance, Government, Retail, Information and Communication
Healthcare, Manufacturing and Others. Out of all the 6 segments of industry
Information and Communication Technology & Retails sector are growing
- Region wise, report
provides the Cybersecurity market of North America, Europe, Asia Pacific (APAC) and Rest of World.
Created on Feb 12th 2019 23:44. Viewed 637 times.