INTERNET SECURITY MARKET ANALYSIS

Market Challenges And Opportunities

Driving factors for growth of the Internet Security Market

Increasing usage of Internet globally is a major factor driving growth of the internet security market. This is due to rapid expansion in wireless communication technology across numerous verticals. For instance, according to report by Coherent Market Insights, the number of internet users across the world were around 3.38 billion and 3.25 billion in 2016 and 2015, respectively. Internet security solutions are widely used in industries such as BFSI (Banking, Financial Services and Insurance), telecommunication, and healthcare to protect large volume of data from increasing cyber-attacks, which fuels growth of the market of internet security. Growing cyber-attacks that causes damage to organization’s data and can result in loss of revenue is a primary driver boosting adoption of internet security solutions across aforementioned verticals. For instance, according to report by Academy and Industry Research Collaboration Center (AIRCC), in the U.S., the number of web attacks in 2015 increased by 36% with over 4,500 new attacks each day in comparison with the previous year. Moreover, increasing adoption of advanced technologies such as IoT (Internet of Things), cloud computing, and BYOD (Bring Your Own Device) has significantly impacted adoption of internet security in the recent past. Adoption of cloud computing has witnessed a significant increase, due to various features such as high scalability, operational efficiency, and cost effectiveness. For instance, according to report by USITC (United States International Trade Commission), in the U.S., around US$ 43.3 billion was invested in cloud computing services in 2015. However, growing cyber threats, especially on public cloud storages has urged users to opt for security measures, in order to protect their data available on the cloud.

Small and mid-size enterprises allocate low budgets for internet security solutions, and this in turn is expected to negatively affect growth of the market. Furthermore, lack of knowledge and awareness regarding internet security solutions in small & mid-size enterprises inhibits the adoption of internet security solution.

Global Internet Security Market Taxonomy

Internet security market is segmented on the basis of solutions, services, security type, deployment mode, organization size, application, and region

On the basis of solution, the global internet security market is classified into:

• Data Loss Prevention (DLP)
• Distributed Denial of Service Mitigation
• Intrusion Detection System/Intrusion Prevention System (Ids/Ips)
• Firewall
• Security and Vulnerability Management
• Anti-virus/Anti malware
• Identity and Access Management (IAM)
• Encryption
• Security Information and Event Management
• Disaster Recovery
• Unified Threat Management
• Risk and Compliance Management

On the basis of services, the global internet security market is classified into:

• Professional Services
• Design and Integration
• Risk and Threat Assessment
• Consulting
• Support and Maintenance
• Training and Education
• Managed Services

On the basis of security type, the global internet security market is classified into:

• Application Security
• Network Security
• Content Security
• Wireless Security
• Cloud Security
• Endpoint Security

On the basis of deployment mode, the global internet security market is classified into:

• On-premises
• Cloud

On the basis of organization size, the global internet security market is classified into:

• Large Enterprises
• Small and Medium-sized Enterprises

On the basis of application, the global internet security market is classified into:

• Manufacturing
• Government
• Energy and Utilities
• Healthcare
• Aerospace and Defense
• Retail
• Banking, Financial Services and Insurance (BFSI)
• IT and Telecom
• Public Utilities
• Military

 On the basis of regions, the global internet security market is classified into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa