Market Overview

In computing sector, security refers to physical security and cybersecurity. Cybersecurity refers to a structure of technologies, practices, and processes to protect devices, networks, data, programs, and confidential information from unauthorized access, damage, and attack. In computing sector, security refers to physical security and cybersecurity. Cybersecurity solutions provide to help enterprises in preventing malicious cyber-attacks. The field of cybersecurity has become increasingly important, owing to increased reliance on computer and internet systems. Moreover, growth of smart devices and wireless connection has made cybersecurity essential in various organizations. Enterprises adopt cybersecurity products and implement solutions in order to protect their critical data from security breaches such as cyber warfare, cyber terrorism, and cyber espionage.

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Market Dynamics

The growth of the cyber security market is majorly get attributed to the increasing adoption of cloud computing networks and services. The use of cloud-based services such as Email, data backups, CRM, hosted office suites, and collaboration services, which requires a cyber-security system for data protection. For instance, according to Coherent Market Insights analysis, in the year 2018, approximately half of companies across the globe has 45% to 65% of their IT systems are cloud-based, and they are planning to increase the cloud-based services, which is expected to create a lucrative opportunity for the cyber-security market.

Moreover, an increasing amount of data generation is expected to propel the market growth of the cyber security market over the forecast period. For instance, according to IEA (International Energy Agency), internet traffic was get tripled between the years 2012 to 2017, and till 2017, 90% of the data of the world was getting created in the last two years only.

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Key companies operating in the global cybersecurity market are Symantec Corporation, IBM Corporation, Check Point Software Technologies, Microsoft Corp, Trend Micro Incorporated, Lockheed Martin Corporation, Sophos Ltd, Intel Corporation, Verizon Communication Inc., and SecureWorks Inc.

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