US Cyber Security market is growing at a CAGR of around 9.8% during the forecast period. The US is one of the leading regions in cybercrime activities, according to the Federation of American Scientists. Millions of people are victims of cybercrimes every year. Significant growth of cyber-attacks holds a major impact on the growth of the United States cyber security market.
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The growth in the cyber-attacks is majorly attributed to the increasing adoption of cloud-based services in the region, as cloud computing platforms are more vulnerable to cyber-attacks and data leakages. It is having been observed that the means of the cyber-attacks varies, however the pattern remains the same. Large database and point of sale systems are targeted by hackers for financial gains. Further, a rise in the number of cyber-attacks and hacker linked with the rival nation that targets government organizations, systems, infrastructures to steal political insights are also very frequent, which is estimated to influence the growth of the US cyber security market.
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In addition, there are various cyber was and regulations in the region under which several measures are mandated to be taken which directly affects the US cyber security market. For instance, HIPAA is one of the stringent regulations in the region which is a legislation that provides data privacy and security provisions for the protection of medical information. Gramm-Leach-Bliley Act is another regulation that focuses on sensitive data stored in financial institutions. It ensures that organizations which offer consumers financial services such as financial advice, loan and insurance to explain their information-sharing practices to their customers and to safeguard sensitive data. Thus, owing to such regulations mandated by the government is likely to augment the demand for cyber security tools and drive the US cyber security market.
US Cyber Security Market Segmentation
• Network Security
• Application Security
• Mobile Security
• Wireless Security
• Cloud Security
• Risk and Compliance Management
• Identity and Access Management
• Data Loss Protection
• Unified Threat Management
• Antimalware and Antivirus
• DDOS mitigation
• Others (Security and Vulnerability Management, and Disaster Recovery)
• Aerospace & Defense
• Others (Manufacturing, and Transportation)
• AVG Securities
• Booz Allen Hamilton
• Capgemini SE
• CISCO Corp.
• CSC Corp.
• Cyberark Software Ltd.
• DELL (Secureworks Inc.)
• Herjavec Group
• IBM Corp.
• Intel Corp.
• Lockheed Martin Corp.
• Palo Alto Networks
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