Fast Facts: What’s Forcing 65% Growth In Cyber Security Market?

Posted: 03/24/2017
App Security

In the fast-paced IT industry, new statistics and data are released daily. Each Friday, Enterprise Mobility Exchange will publish Fast Facts, taking a look at interesting or noteworthy information impacting businesses.

The need for Cyber Security is everywhere, from small businesses to the federal government. As technology advances, so do threats, and private data has become the gold bullion modern-day pirates desperately seek.

A new report this week describes the impetus behind the cyber security market’s value growth, which is forecast to see a CAGR of 10.6% between now and 2021.

  • Application security will grow at the quickest rate of any other sector
  • IoT and BYOD are driving the cyber security market’s growth
  • Web and cloud-based business applications are secondary factors in market growth
  • North America held largest share of cyber security market in 2016, but the APAC region will have the highest five-year CAGR until 2021

What do you think? Is the cyber security market growth forecasted to go slower than you expect? Are those factors behind the increase  really the cause, or do you see other reasons why cyber security is growing?

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