The global market for Information Security Services is projected to reach US$107.2 billion by 2024, driven by the rise in the magnitude of cybercrime, increase in threats and vulnerabilities for enterprise wireless networks (WLANs), and the resulting legislation of stringent safety regulations and higher compliance burden. Few of the factors driving the increase in information security threats include expanding mobile workforce; rise of the Bring Your Own Device (BYOD) phenomenon; increasing use of cloud-based services; and susceptibility of over 90% of web applications for design and development flaws that enable exploitation by cyber criminals. The United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 14.6% over the analysis period, supported by factors such as rapid spurt in cyber civilization in emerging markets and the resulting excessive reliance on digital devices for information sharing, shopping, conducting banking transactions, payments etc.; growing value of digital assets in the expanding enterprise sector; and rapid proliferation consumer and industrial internet of things (IoT).  

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Summary of Findings
  • High Cloud Readiness Index (CRI) Score in Asian Countries Amplifies the Region's Vulnerability to Information Security Threats, thus Creating a Lucrative Market for Security Services and Solutions
  • Inability of Conventional Perimeter and Content Security Solutions to Eliminate the Increasingly Evasive Advanced Persistent Threats (APT) Drives Demand for Sophisticated Security Solutions and Services
  • Growing Security Threats from IT Infrastructure Virtualization Spurs Demand for Information Security Services
  • Ongoing Transition from IP4 to IPv6 to Boost Adoption of Intrusion Prevention and Vulnerability Management Solutions
  • Emergence of Fake QR Codes and TecTiles Drive Demand for Security Solutions & Services

Timeline for Analysis
  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

Geographic Markets Analyzed
  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World

Market Segmentation & Classification
  • Product Segments:
    • Implementation Services, Consulting Services, Managed Security Services, Education & Training, and Response Services

Major Players
  • CA Technologies, Inc.
  • Check Point Software Technologies Ltd.
  • Cisco Systems Inc.
  • Deloitte Touche Tohmatsu Limited
  • Forcepoint
  • Fortinet, Inc.

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