The term commercial cyber security refers to the notion of serving cyber security solutions to the industry verticals that come under the commercial segment. The foremost commercial verticals includes BFSI, retail, Public, IT and telecom, healthcare, and aerospace and defense. The speedy acceptance of the digitization has made these industry verticals to be a gorgeous target for an extensive assortment of the cyber threats. With the significant increase in the urbanization the cyber-attacks are growing day-by-day, cyber security has become the indispensable part of the IT infrastructure. Not only has this, the governments and foremost industry verticals are set to extensively invest in developed solutions for the cyber security terrorizations and fissures in the commercial industry verticals. Furthermore, many of the players in the market of commercial cyber security are advancing the technologies of this for safeguarding the association of commercial section and delivering better consumer satisfaction which further benefitted for increasing the value of market share and leading the fastest market growth during the forecasted period more positively.
According to the report analysis, ‘Worldwide Commercial Cyber Security Market–Security Types (Network, Cloud, Content, Wireless, Application, Endpoint), Solutions (Identity & Access Management, Risk & Vulnerability Management, DDoS Mitigation, IDS/IPS, Business Continuity & Disaster Recovery), Services (Consulting Service, Managed Security Service, Integration Service), By End-users and By Regions-Drivers, Opportunities, Trends, and Forecasts, 2016-2022’ states that there are several key players which are presently functioning in this sector more actively for registering the fastest market growth and dominating the high value of market share in the coming years more significantly while increase the accuracy of the data security and privacy application, respect of cyber security regulations and standards and effective technological advancements at a reasonable price includes Cisco Systems, Check Point Software Technology, McAfee, Symantec, BAE Systems Intelligence & Security, Ixtel Technologies, Argus Cyber Security,root9B Technologies, Nexusguard Limited, Cato Networks, PhishMeInc and several others.
Additionally, the significant increase in the number of internet users across the globe, growth in the number of smart phones shipments around the world and growing requirement for the acceptance of the cloud for data storage and handling are the foremost factors for the growth of the market. However, The Worldwide Commercial Cyber Security market is anticipated to reach USD 167.70 billion by 2022, increasing at a CAGR of 22.6% during the forecast period of 2016-2022. Whereas, the raising awareness in people about cyber-crimes and government expenditure on the cyber security solutions support the market to have an exponential growth in the upcoming years. The BFSI industry endures to register the commercial cyber security market mainly owing to the cyber attacks found in the industry.
Although, the government and associations are bearing in mind the digital technology as a new business strategy for the revenue growth and to rise the footprints around the globe. Furthermore, the investments from the government and key industry firms, growth opportunities for the cloud and analytics market, effective increase in the cyber crimes and several others are the some major market growth drivers. Therefore, in the near future, it is anticipated that the market of commercial cyber security will increase across the globe more positively over the recent few years.
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Ankur Gupta, Head Marketing & Communications