Global Cyber Security Market 2013-2023 – World Industry Share, Size, Growth, Analysis and Forecast Research Report Available at MarketResearchReports.Biz
(PRWEB) June 16, 2013
This report is the result of SDI’s extensive market and company research covering the global cyber security industry. It provides detailed analysis of both historic and forecast global industry values, factors influencing demand, the challenges faced by industry participants, analysis of the leading companies in the industry, and key news.
Introduction and Landscape
Why was the report written?
The Global Cybersecurity Market 2013-2023 offers the reader detailed analysis of the global cyber security market over the next ten years, alongside potential market opportunities to enter the industry, using detailed market size forecasts.
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What are the key drivers behind recent market changes?
The global cyber security market is dominated by North America, with the US being the largest defense spender in the world; overall, North America is set to spend US$ 93.6 billion on cyber security during the forecast period. Despite the scheduled budget cuts, Europe represents the second-largest market, with the total cyber security market valued at around US$ 24.7 billion, offering a potentially attractive investment opportunity for suppliers. Asia-Pacific is projected to spend an estimated US$ 23.2 billion on cyber security during the forecast period, followed by the Middle East and Latin America with US$ 22.8 billion and US$ 1.6 billion respectively.
What makes this report unique and essential to read?
The Global Cyber Security Market 2013-2023 provides detailed analysis of the current industry size and growth expectations from 2013 to 2023, including highlights of key growth stimulators. It also benchmarks the industry against key global markets and provides detailed understanding of emerging opportunities in specific areas.
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Key Features and Benefits
The report provides detailed analysis of the market for cyber security during 2013-2023, including the factors that influence the reasons countries are investing or cutting defense expenditure. It provides detailed expectations of growth rates and projected total expenditure.
Historically, most of the expenditure in this sector is generated by the private sector, yet government spending has witnessed a robust increase in the recent past; the US’s private and public sector spending is almost the same, pegged at US$ 94 billion over the next 10 years. The UK has also made cyber security a tier one priority by allocating an additional US$ 800 million for various cyber security initiatives in its 2010 strategic defense and security review (SDSR); the government is expected to spend close to US$ 6 billion on cyber security over the next 10 years. Similarly countries in the Middle East, Asia Pacific and Latin America are also expected to ramp up spending on cyber security during the forecast period.
Key Market Issues
It is very important for cyber security providers to identify the source of malware so that similar patterns can be tracked and observed for flaws, and a proper response to the attack can be delivered without causing undue inconvenience to the entire cyberspace community. This challenge stems from the fact that the cyber security institutional eco-system which consists of a broad set of international, national, and private organizations has unclear and overlapping boundaries.
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Cyber weapons are in their infancy and are expected to rapidly evolve over the next decade. Therefore, nations are currently dedicating increasing resources at the executive policy level as well as at the private sector level, in order to deal with complex cyber threats. These resources have been well utilized as is evident from the innovations in cyber defense technologies, but as these mechanisms become commercially available and their mode of operation is scrutinized, attackers will develop more advanced cyber weapon technologies to deal with advanced defenses.
At the cyber-security world summit held in 2010, security experts raised credible issues such as crashing power grids, stalled air control towers, hospital infrastructure being rendered useless, and national defenses being susceptible to outside attack. New technologies such as cloud computing, social networking, and the proliferation of mobile devices have also resulted in an increase of cyber attacks. The governments of the UK, the US, France, Belgium, Germany, and India have stated that their systems and networks were infiltrated by criminal networks. Such incidents are expected to augment a sustainable demand for cyber security over the forecast period
The militaries of most countries have always enjoyed a certain degree of autonomy, but they are not immune from the economic uncertainties that face governments. With budget cuts being implemented, many countries are looking to channel their resources towards certain areas of military spending. For example the US is looking to phase out tanks and other major weapons programs and divert its spending towards IT and cyber security programs.
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