10 Trend that will Dominate the Cyber Security Market

Binu Thomas, EVP & Regional CEO - India, Paladion Networks
Tuesday, July 12, 2016
Binu Thomas, EVP & Regional CEO - India, Paladion Networks
Born in 2000, Bangalore-based Paladion Networks is a specialized partner for information risk management for leading organizations across industries including BFSI, ITES, Telecom and Manufacturing.

The figures speak volumes. The global cyber security market is anticipated to grow to $170 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 9.8 percent from 2016 to 2020, as per a report from Markets and Markets. Research firm Gartner opines that the global spending on IT security will be at $101 billion by 2018.

Interestingly, today, companies are committing themselves not only on security solutions but also on security services. Managed security services have witnessed rapid pickups by covering 40 percent of the security market in 2015. Blitzkrieg rise in cyber threats is driven by factors such as increasing mobile and web usage, social media and the Internet of Things (IoT), among others.

Triggered by such threats, companies are increasingly opting for integrated security solutions. Having one integrated security solution goes a long way in terms of reducing costs and complications. The aerospace, defense, and intelligence verticals are leading in terms of cyber security requirements but other businesses are not anyways lagging behind. The reason is self explanatory - Globally, cyber attacks are costing businesses $400 billion to $500 billion, a year.

As cyber threats are becoming device agnostic, smarter and more intelligent, security vulnerabilities are also increasing hand in hand. Companies are scaling their businesses by adopting initiatives such as cloud and social, information that previously resided in internal systems are now distributed across various devices and levels like on-premises, public clouds, social media and mobile. This naturally subjects consumers, businesses and governments to higher risks, vulnerabilities and exposures. Cloud security is poised to evolve into simpler, scalable, virtualized controls and solutions that will have embedded security processes to help map current IT systems.

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Reader's comments(1)
1:Good info sir
Posted by: Sri sai - 04th Aug 2016
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