The world Internet security market is expected to garner $46.5 billion by 2021, registering a CAGR [compound annual growth rate] of 8.4% from 2016 to 2021, according to Research and Markets (www.researchandmarkets.com).
Increasing usage of Internet across every sector has increased the vulnerability of virus attacks, spams and others, which could severely impact system functionality and business operations, according to the research group. Several sectors, such as finance, infrastructure, transportation, telecommunication, and defense and research institutes, have become the prime targets of the cyber-attacks.
Internet security solutions protect computing systems to ensure flawless execution of operations and prevent damage and loss that might arise from any kind of cyber-attack. The Research and Markets report presents a detailed view on the world Internet security market. The market growth is driven by several factors, such as cloud-based business operations, increase in the number of online financial transactions, and growing use of Internet due to wireless availability and enhanced connectivity.
The presence of pirated software and lack of awareness about utilizing Internet security features among the consumers, act as the key restraining factors. However, the market is expected to witness constant growth with increasing number of Internet applications, such as e-commerce and e-governance and growing awareness and for efficient security solutions, says Research and Markets.