Portland, OR -- (SBWire) -- 09/15/2017 --The report is a comprehensive analysis and points out the key driving factors, restraints, and opportunities, and companies operating in the market. It also emphasizes on the key benefits, research methodology used, market by products, services, technology, application, and geography.
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The market report highlights the escalating growth of the industry in the given forecast period. According to the study, the global internet security market is expected to garner $46.5 billion by 2021, registering a CAGR of 8.4% during the period 2016-2021. The industry is expected to reach great heights due to several factors such as increasing number of cyber-attacks, increasing use of internet due to wireless communication, growing popularity of cloud computing, rise in online financial transactions, regulations & policies, and e-commerce & e-governance initiatives.
On the basis of product & services, the market is classified into software, hardware, and services. In 2015, the software security solutions segment alone contributed to about 74.8% of the overall revenue. The main demand drivers for this segment include widespread adoption of these software solutions among individual and corporate users. Nevertheless, the services segment is expected to be at the forefront in terms of growth. It is estimated to register the highest CAGR of 23.6% during the forecast period. A number of key players such as Intel, HP, and Symantec, have heavily invested in developing cloud-based security solutions.
On the basis of technology, the market report is segmented into authentication, access control technology, content filtering technology, and cryptography (encryption) technology. In 2015, the authentication technology segment proved to be the market dominator, accounting for over 40% market share. Authentication technologies find applications in single sign-on like password-based logins as well as complex systems, such as tokens, public-key certificates, and biometrics.
On the basis of applications, the market is broken down into sectors such as BFSI, retail, IT & telecommunications, government, manufacturing, education, aerospace, defense & intelligence, and others. In 2015, BFSI was the highest revenue-generating segment. The report reveals that education sector will see rapid growth during the forecast period, registering a CAGR of 14.3%.
The report profiles the key players operating in the industry, along with a close look at their profile, business performances, strategic moves and developments and SWOT analysis. Major industry players have adopted several market activities such as launches, partnerships, and acquisitions to gain a strong foothold in the market and enhance their product portfolio. The key market players profiled in this report include Symantec Corporation, Intel Corporation, Hewlett Packard (HP) Company, Cisco Systems Inc., IBM Corporation, Microsoft Corporation, Kaspersky Labs, and Dell Inc.
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Some important findings from the internet security market report:
- Among all the key application sectors, the education is expected to exhibit highest growth over the forecast period
- Among all the regions, the Asia-Pacific region is likely going to be the most lucrative market, both in terms of size and growth
- The internet security services segment would see a rapid growth over the forecast period
Global Internet Security Market Report – 2016–2022 — Analysis Based on Products & Services, Technology, Application and Geography
Allied Market Research has recently published a report on the internet security market, which is an in-depth study of the entire industry from 2016-2021.