Cyber Security Market Worth USD 202.36 Billion by 2021 – Rise in Security Breaches Targeting Enterprises Driving Growth – Research and Markets

DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “Cyber Security Market – Global Forecast to 2021″ report to their offering.

The report estimates the global cyber security market to grow from USD 122.45 billion in 2016 to USD 202.36 billion by 2021, at a CAGR of 10.6%. The cyber security market is growing rapidly because of the increase in adoption of cyber security solutions, due to the increase in security breaches targeting enterprises.

Network security is estimated to have the largest market size in 2016 because of the need for stringent compliance and regulatory requirements. The growth in the network security is associated with the rise in security breaches targeting enterprise networks, where hackers try to gain access to sensitive data. Furthermore, application security will grow at the highest CAGR during the forecast period, due to the rise in Internet of Things (IoT) and Bring Your Own Device (BYOD) trend. For the full article click here

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