Internet Security Market Size will Observe Substantial Growth by 2029

Internet Security Market

A subset of computer security known as "internet security" deals with shielding computer systems from online threats like Trojan horses, worms, viruses, and other malware. Network and browser security is also a part of internet security. While Internet Security Market consists of policies and practises intended to stop and monitor illegal access, misuse, or denial of a computer network, browser security is used to safeguard networked data and computer systems.

The market for internet security is expanding as a result of rising Internet usage across the globe. This is a result of the quick spread of wireless communication technologies across many industries. For instance, a survey by Coherent Market Insights estimates that there were roughly 3.38 billion internet users worldwide in 2016 and 3.25 billion in 2015. Internet security solutions are extensively employed in sectors like BFSI (Banking, Financial Services and Insurance), telecommunication, and healthcare to safeguard enormous volumes of data from evolving cyber-attacks, which supports the expansion of the Internet Security Market. One major factor driving the uptake of internet security solutions across the aforementioned verticals is the rise in cyberattacks that destroy organisations' data and may cause financial loss.

For instance, the frequency of cyber attacks in the United States surged by 36 percent in 2015, with over 4,500 new attacks occurring daily, according to a research by the Academy and Industry Research Collaboration Center (AIRCC). Additionally, recent years have seen a considerable impact on the adoption of internet security due to the growing popularity of cutting-edge technologies like IoT (Internet of Things), cloud computing, and BYOD (Bring Your Own Device). Additionally, the adoption of Internet Security Market is hampered by the lack of information and awareness among small and mid-size businesses. Due to numerous features like high scalability, operational effectiveness, and cost effectiveness, cloud computing adoption has significantly increased. For instance, a report by the USITC (United States International Trade Commission) indicates that in 2015, the U.S. spent over US$43.3 billion on cloud computing services. Low spending on internet security solutions by small and midsize businesses is anticipated to have a negative impact on market expansion.