DUBLIN, February 12, 2016 /PRNewswire/ --
The global cyber security market is expected to grow at a CAGR of 12.13% over the 2016-2020 period, according to a recent report available from Research and Markets. The report notes that an increase in Internet penetration and the vulnerability of mobile device wireless networks will be the cause for this sustained growth. However, US network Security Company FireEye yesterday stated that the growth in cyber security spending is to slow this year.
FireEye reported lower-than-expected revenue for the 2015 fourth-quarter Source: http://www.reuters.com/article/us-fireeye-results-idUSKCN0VK2G1 , and predicted more loses for the first-quarter of 2016. The company said that industry sales were boosted last year by emergency orders placed after major hacking attacks, but they were currently seeing a more normalized spending environment.
The global managed security services market is predicted to be valued at USD 29.9 billion by 2020, growing with a CAGR of 15.8%, as noted in an industry report. This suggests that although slow growth is predicted for this quarter, this will not be the case in the near future.
Indeed, the global industrial cyber security market is forecast to grow with a CAGR of 14.17% by 2019, as highlighted in an industry report. The normalized spending noted by FireEye could lead to a decrease in this percentage, but the unpredictable nature of hackers could result in more attacks and additional spending.
For further information on this topic, and a full list of all related documentation, please visit the IT Security section at http://www.researchandmarkets.com/rm/LMPS.
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SOURCE Research and Markets