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Cyber security has become vital for the smooth running of various industries. Its importance is growing as the world is becoming more connected and digitalised.
Who are the leading companies working on the cybersecurity products currently and what developments we should expect in the future?
As the world is becoming more digitalised and most industries are moving towards automation. This also led to some serious risks of cyberattacks. The more the world moves toward digitalisation there will be more need of cybersecurity.
Cybersecurity is basically a defence against cyberattacks in various ways, such as firewalls, and antiviruses. There are also various companies which provide cybersecurity solutions to other organisations and help them secure their communication networks. Cybersecurity is needed in almost every industry nowadays, and most prominently in healthcare, automotive, telecom, manufacturing and consumer electronics.
There are also recent developments in securing networks such as blockchain technology, which is still in a nascent stage. The blockchain technology is developing in a fast manner.
Some of the major companies that are involved in cybersecurity market include Arilou technologies, ESCRYPT Embedded Systems, IBM Corporation, Cisco Systems, NXP Semiconductors, McAfee, Harman, SBD Automotive & NCC Group, Intel, Argus and BT Security.
Based on the publically available market research data the global market size of cybersecurity is calculated to be around US$ 110 billion in 2018 and will reach US$ 260 billion by 2025.
The market growth is expected to be driven by the rising automation, and advanced ways of communication and data sharing.