Fast Facts: Mobile Moments Catapulting Cyber Security Market

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

Looking at the cyber security framework within an enterprise, every piece of data and privacy protection falls under that umbrella, including mobile security. It just so happens that the cyber security market is about to boom, thanks in large part to enterprise mobility.

According to a new report from Markets and Markets, the cyber security market value is expected to grow at an 11% CAGR between 2017 and 2022, an increase of $137.85 billion in the current year to $231.94 billion in 2022.

So, what’s driving that growth? Of course the proliferation of hackers, attacks, ransomware and malware lead the pack, but where are they targeting? The report cites application security as having the biggest CAGR during the five-year timeframe, as “the emergence of IoT and BYOD trends has connected large number of devices and applications via Internet, which are susceptible to Advanced Persistent Threats (APTs).”

The cyber security market is defined by solution, service, security type, deployment mode, organization size, vertical, and region.

As recently published by Enterprise Mobility Exchange in its Industry Insight 2017: The State of Enterprise Mobility global report, cyber security was a top-three priority for IT executives in 2017. Find out more about that report with a free download here.

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