Defense Segment to Dominate the US Cyber Security Market: TechSci Research
According to TechSci Research report, “United States Cyber Security Market By Security Type (Network Security, Endpoint Security, Application Security, Cloud Security, Content Security, Others) By Solutions Type (Identity & Access Management, Risk & Compliance Management, Encryption & Decryption, Data Loss Prevention, Unified Threat Management, Firewall, Antivirus & Malware, Intrusion Detection/Prevention System, Infrastructure Security, Others) By Deployment Mode (On-Premise v/s Cloud) By End Use Industry (BFSI, IT & Telecom, Defense, Energy & Power, Retail, Healthcare and Others) By Company, By Region, Forecast & Opportunities, 2026”, The United States cyber security market is expected to witness significant growth for the next five years. Cybersecurity solutions help enterprises to detect, monitor and prevent cyber threats for maintaining data confidentiality. The need to protect the critical infrastructure across government, utilities and other prominent sectors is leading in the adoption of cybersecurity service providers. Security service providers troubleshoot software issues and provide services through security operation centres. Large enterprises are increasing their spending on security services and solutions to ensure protection against cyber-attacks. An increase in a number of attacks such as phishing, malware threats, IoT threats, crypto-jacking is leading to huge organizational losses which is creating the need to adopt cyber security solutions.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected countries adversely. Leading authorities in United States imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing. United States authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. Corporate asked employees to work from home as a precautionary measure which has increased the adoption of video conferencing and communication platforms at a large scale which has surged the demand for security measure to prevent data leak or loss thereby bolstering the growth of cybersecurity market.
