The growing trend of digitization around the globe is expanding cyber security market size
The growing use of cloud-based services for multiple workloads such as CRM, data backups, ERP, email services, and collaboration services is augmenting the growth of the cyber security market. Moreover, Cloud-based services are relatively less expensive and do not require IT infrastructure but are highly vulnerable which makes them easily accessible by illegal users. Thus this creating need for cybersecurity software. February 2017 for instance, IBM Corporation launched Watson for cybersecurity, which is augmented intelligence technology designed to enhance cognitive security at operation centers.
As per Coherent Market Insights, a new report offering definite data of the Global Cyber Security Market 2021 with a total evaluation of the includes future patterns and current development factors. The report uncovers the ongoing CAGR enrolled by the market during the pandemic. The creator conjectures the business will keep on filling in the inward cutthroat scene and increment openings with a short presentation of the Cyber Security market.
North America is expected to dominate the global cyber security market and this is due to the fact that the region is accounted for the highest number of cybercrime in the region. According to the Federal Trade Commission (FTC) report on Identity theft and cybercrime, there were 4.8 million identity theft and fraud reports received by the FTC in 2020, up 45 percent from 3.3 million in 2019, mostly due to the 113 percent increase in identity theft complaints. In 2020, 1.4 million complaints were for identity theft, up from 651,000 in 2019. Identity theft complaints accounted for 29 percent of all complaints received by the FTC, up from 20 percent in 2019. About 2.2 million reports were fraud complaints and 1.2 million involved other complaints.
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Computer security, also known as information technology security or cyberspace security is the protection of networks and computer systems from the threat of malicious hackers, data loss or damage, and the disruption or manipulation of their services. The need for such a high level of security in the world today is quite obvious: with each new day more people are getting online, and it has only gotten easier for people to not only gain access to our systems but to use those systems to do us harm. Even people who are aware of the problems of cybercrime and Internet security are often unaware of the specific ways in which their computers are being attacked and manipulated.
The growing trend of digitization around the globe is encouraging enterprises to adopt cybersecurity facilities, thereby fostering the growth of the cyber security market.
In January 2017, SecureWorks Inc. introduced managed detection and response solution. This solution aids in minimizing the time required in identifying and eliminating cyber threats
In March 2017, IBM Corporation introduced IBM Cloud Secure Virtualization, which is a cloud-based solution that offers workload security for applications and data, and also automates reporting to assist with a regulatory requirement. The solution offers hardware-enhanced workload security
In November 2020, Check Point® Software Technologies Ltd. a provider of cybersecurity solutions globally, has introduced its next-generation unified cybersecurity platform, Check Point R81
In April 2021, Procentec has launched four new solutions and a wide subset of features for its existing Osiris products, which focus on network security
Frequently Asked Questions (FAQ) :
Is Cyber Security Market Booming In Near Future?
Yes, Market Will Boom In Near Future
Which are the prominent Cyber Security market players across the globe? Can I Add a Specific Company?
Yes, You can add Specific Companies up to 3 Companies.
Companies Covered as part of this study include International Business Machine (IBM) Corporation, Dell EMC, Hewlett Packard Enterprise (HPE), Intel Corporation, Sophos, Symantec Corporation, McAfee, FireEye Incorporated, Cisco Systems, and Trend Micro Incorporated,
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Which Geographic Segmentation Covered In The Market Report?
- North America
- Asia Pacific
- Latin America
- Middle East
This report also provides particular consumer expectations and preferences to gain insights into changing behavior and needs of the consumer. Thus, we provide more accurate, reliable, and actionable information specifically customize to suit your business needs. If you have any special demand, please let us know and we will provide you the report as you want.
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