DUBLIN, March 1, 2016 /PRNewswire/ --
The global cyber security market is set to grow at a CAGR of 12.13% during the 2016-2020 period, according to an industry report available from Research and Markets. The report states that an intensifying overall competitive landscape is forcing existing vendors to develop advanced solutions to remain competitive. This forecast was supported with news today of IBM's decision to purchase cyber security firm Resilient Systems.
The terms of the deal have not been disclosed, but it is expected to close later this year. IBM has said that it intends to retain the 100 or so employees currently working at Resilient Systems. Originally known as C03 Systems, the cyber security firm was founded in 2010 and in the years since has become a leading player in the incident response field.
Resilient Systems offer its services to private and government clients, helping them to prepare and deal with cyber breaches. The global data loss prevention market is expected to be worth USD 2.64 billion by 2020, as noted in a recent report. This value could be higher if larger corporations like IBM continue to purchase and invest in smaller firms servicing this market.
The global cloud security software market is predicted to grow at a CAGR of 48.46% by 2020, suggesting heavy investment in the market. Again, as we can see from today's news, this growth will be spurred on by larger vendors seeking to acquire the skills and technology of smaller and more focused firms.
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SOURCE Research and Markets