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Cybersecurity Market Report for Q2 2015

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According to the Q2 2015 edition of the Cybersecurity Market Report, the worldwide cybersecurity market is defined by market sizing estimates that range from $71 billion in 2014 to $155+ billion by 2019.

Gartner, Inc. says total information security spending is expected to grow 8.2 percent in 2015 to reach $76.9 billion. The cybersecurity market is estimated to grow to $155.74 billion by 2019, according to a report from Markets and Markets.

Excerpts from the Cybersecurity Market Report highlight some of the trends and growth sectors within the cybersecurity industry, as follows.

Security awareness training. Gartner, Inc. said the security awareness training market exceeds $1 billion in annual revenue (globally), and is growing approximately 13 percent a year. The importance of computer security awareness training is supported by numerous recent reports including IBM’s 2014 Cyber Security Intelligence Index, which found that 95 percent of all security incidents involve human error. 

In the 2014 U.S. State of Cybercrime Survey (co-sponsors included Carnegie Mellon University and the Secret Service) 28 percent of cybersecurity incidents were blamed on current or former employees, contractors and other trusted parties. Nearly a third of respondents said such incidents cost more or inflict more damage than outside attacks.

Software tools. About 10 percent of enterprises and government agencies have upgraded to “next-generation” security software, such as firewalls that detect and block threats at the application level, or big data analytics services geared toward security, according to research by FBR Capital Markets. FBR says the market for those software tools could be $15 billion to $20 billion over the next three years. 

Big data analytics tools will be the first line of defense, combining machine learning, text mining and ontology modeling to provide holistic and integrated security threat prediction, detection, and deterrence and prevention programs, according to recent predictions by The International Institute of Analytics (IIA).

Mobile security spending. According to Ernst & Young’s (EY) 2014 Global Information Security Survey, security teams’ biggest increases in spending will revolve around mobile technology (46 percent). Infonetics Research says the mobile device security market is expected to grow to $3.4 billion in 2018. According to SNS Research, installation of anti-malware/anti-virus client software is fast becoming a de-facto requirement for most smartphones and tablets. Furthermore, mobile device OEMs are also integrating advanced biometrics such as fingerprint sensing into their smartphones and tablets, amid growing popularity of security sensitive opportunities such as mobile payments.

Managed security services market. Infonetics Research says the managed security services provider (MSSP) market will exceed $9 billion by 2017. Frost & Sullivan researchers predict the EMEA MSSP market will reach $5 billion by 2018, and the North American MSSP market will reach $3.25 billion by 2018. Gartner projects that by 2018, more than half of organizations will use security services firms that specialize in data protection, security risk management and security infrastructure management to enhance their security postures.

U.S. government demand. Demand for vendor-furnished information security products and services by the U.S. federal government will increase from $7.8 billion in FY 2014 to $10.0 billion in 2019 at a compound annual growth rate (CAGR) of 5.2 percent, according to Deltek’s Federal Information Security Market Report (published Oct. 2014), which examines the trends and drivers shaping the federal information security marketplace and provides a forecast for the next five years.

To read the entire Q2 2015 edition of the Cybersecurity Market Report, go to www.CybersecurityMarketReport.com. 

Steve Morgan is founder and CEO at Cybersecurity Ventures and editor-in-chief of the Cybersecurity Market Report and the Cybersecurity 500 list of the world’s hottest and most innovative cybersecurity companies. Follow Steve on Twitter at twitter.com/cybersecuritysf or connect with him on LinkedIn at linkedin.com/in/cybersecuritysf​.

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