Cyber Security is one of the most valued and fastest developing markets in our portfolio. The cybersecurity market is expected to grow from USD 137.85 Billion in 2017 to USD 231.94 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.0%. The major forces driving the cybersecurity market are strict data protection directives and cyber terrorism. The cybersecurity market is growing rapidly because of the growing security needs of Internet of Things (IoT) and Bring Your Own Device (BYOD) trends, and increased deployment of web and cloud-based business applications.
Cybersecurity is the body of technologies, processes and practices designed to protect networks, computers, programs and data from attack, damage or unauthorized access. In a computing context, security includes both cybersecurity and physical security.
Ensuring cybersecurity requires coordinated efforts throughout an information system. Elements of cybersecurity include:
• Application security
• Information security
• Network security
• Disaster recovery / business continuity planning
• Operational security
• End-user education
One of the most problematic elements of cybersecurity is the quickly and constantly evolving nature of security risks. The traditional approach has been to focus most resources on the most crucial system components and protect against the biggest known threats, which necessitated leaving some less important system components undefended and some less dangerous risks not protected against. Such an approach is insufficient in the current environment.
According to Forbes, the global cybersecurity market reached $75 billion for 2015 and is expected to hit $170 billion in 2020
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