Frost & Sullivan: ‘The cybersecurity solutions market will reach $ 202.3 billion by 2021’

By 2021, the volume of the global technology information security market will almost double in comparison with 2016 and amount to US $ 202.3 billion (versus $ 122.4 billion) with an annual growth rate (CAGR) of 10.6%. This forecast was made by experts of the international consulting company Frost & Sullivan, who analyzed the market of information security solutions.
 
A report published by Frost & Sullivan stresses that the largest market segments in the forecast period will be information and communication technologies (ICT), energy, health care, industry and the financial sector. At the same time, the highest growth rates are expected in such areas as mobile security, ensuring cloud data storage security, potential threat analysis and cyber attack prevention.
 
“One of the drivers of the cyber security market in the world is the development and implementation of biometric technologies in various industries. For example, today they are actively used in the banking and financial sectors to counter fraudster and cyber attacks, ”says Alexey Volostnov, director of the Russian representative office of Frost & Sullivan.
 
“The cybersecurity market will expand and remain open: the growth in the number and nature of threats opens up opportunities for new participants - small technology companies specializing in developing systems and solutions for specific tasks - to enter it. Thus, the investment attractiveness of cybersecurity as a business segment will only increase over the years,” Servernews reports.

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