Global cybersecurity costs to grow by 10.6% per year
Consulting company Frost & Sullivan made a forecast for the information security market. It is expected that by 2021, the global information security spending will reach $ 202.3 billion, compared to $ 122.4 billion in 2016. Costs will increase by about 10.6% per year.
According to the forecast, the largest investments in cybersecurity will be observed in the spheres of information and communication technology, energy, health, industry and the financial sector.
According to analysts, a growing number of enterprises using the Bring Your Own Device (BYOD) concept and cloud services, which are gaining popularity, are contributing to the rise in demand for cyber security services and products.
Frost & Sullivan predicts the highest growth rates in such areas as mobile security, cloud data storage security, potential threat analysis and cyber-attack prevention.
According to analysts, one of the drivers of the global cyber security market is the development and implementation of biometric technologies that are actively used, for example, in the banking and financial sectors to counter fraudster and hacker attacks, dailycomm.ru reports.
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