Cyber security is the practice of defending computers, servers, mobile devices, electronic systems, networks, and data from malicious attacks. It’s also known as information technology security or electronic information security. Application security focuses on keeping software and devices free of threats.
The obvious reason for the importance of cyber security in banking sector transactions is to protect customer assets. It also greatly harms the bank while they attempt to recover the data. When it’s taken hostage, the bank might need to pay hundreds of thousands of dollars to release the information.
Worldwide spending on information security products and services exceeded $114 billion in 2018, an increase of 12.4 percent from 2017. For 2019, they forecast the market to grow to $124 billion, and $170.4 billion in 2022.
The demand for cybersecurity experts is set to increase as cybersecurity crimes grow. The Bureau of Labor and Statistics projects that employment for information security analysts will grow at 32% between 2018 and 2028, which is higher than the average for all other occupations.
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Top Key Players:
- Cisco Systems, Inc
- Fortinet, Inc
- Proofpoint, Inc
- Microsoft Corporation (United States)
- IBM Corporation (United States)
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Market Report Segment: by type
Market Report Segment: by region
- Asia Pacific
- North America
- South America
- Middle East & Africa
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