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The information security market will hit $170 billion in less than 4 years

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March 10, 2016

According to various internet security analyst firms, the information security industry will hit US $170 billion by 2020, a growth projection of some US $100 billion in less than four years.

India-based firm Markets-and-Markets says the 2020 goal includes security technologies like data leak prevention, denial of service attack mitigation and compliance, along with security various services in the enterprise segment.

For its part, Gartner offers similar numbers. In its latest November figures provided to Vulture South, security spending was estimated at US $75 billion by year's end.

The market research firm added that the security industry will be worth some US $116 billion by 2019 with security services including consulting, hardware support, and outsourcing adding a further US $73 billion in less than 3 years from today.

"Markets-and-Markets expects the global cyber security industry to grow from US $106.32 billion in 2015 to US $170.21 billion by 2020, at a compound annual growth rate of 9.8 percent," said Markets-and-Markets.

"In the current environment, North America is expected to be the largest market on the basis of spending and adoption of cyber security solutions and services and will most likely retain its position as the highest revenue generator for the cyber security market during the entire forecast period," it said.

"Among the services, managed security offerings are rapidly gaining traction by covering 40 percent of the security market in 2015," said the company.

The firm lists large security industry players such as IBM, Intel, Booz Allen Hamilton, and CSC among others.

Source: BitDefender.

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