This just in: the global security market will hit $18 billion by 2023, with a compound annual growth rate (GACR) of 22%, according to a report offered on Market Research Future. Assuming this estimate is accurate, it’s good news for Cisco and the other security vendors, but it’s a sad commentary on the world we live in
Our technological advances have led us to a disastrous situation, requiring that we use the skills of a thief to catch a thief. Case in point: Illusive Networks is offering an email “deception” service that steers malware attackers away from the information they seek. In a possible understatement, CEO Ofer Israeli said that such deceptions are “very difficult to create.”
We bet. But what happens when the malefactors reach these cul de sacs? Do they get a message, saying “surprise?” (Actually, as we understand it, the service kicks in and blocks them.) And will they eventually be able to figure it out?
But now let’s look at the few nuggets released from this report. For starters, it states the obvious: “email security is most significant concern for every region.”
It continues that North America is the dominant area in revenue because of the presence of major players and the solutions they provide to fight “virus, spam, denial of service and cyber-attacks.” The market is also being driven by government initiatives and monitoring, the report states.
The report adds, with somewhat strange grammar, that “security asset management and monitoring contributes largest market segment in the region.”
That said, the Asia-Pacific region will be the fastest-growing market with the highest CAGR.
Most of the major vendors are U.S. companies: Cisco Systems, Inc., Dell Inc., Fortinet, Mcafee, Inc. Symantec Corp. Apptix and Microsoft Corp. The other big players include Mimecast, a UK company, and SAP SE, a German firm
Well, this is only one forecast. But why quibble about the numbers? It’s clear the market will be huge, give or take a couple of billion. And it’s a shame that we even need it.