Increasing Risk of Cybercrime Due to Growing Penetration of Internet Is Accelerating the Growth of the Internet Security Market

 

Internet Security Market

Internet security is the practice of trying to protect information from being compromised, whether this information passes between networks such as email or communication networks or be maintained at a server. A firewall may be firewall-based or network-based that are often referred to as application security or internet security gateways while firewall-based firewalls are sometimes referred to as content filtering firewalls or interface security firewalls.

The rise in cybercrimes, risks, and threats is propelling the growth of the internet security market. According to the National Crime Record Bureau data, Digital India has recorded a huge increase of 63.5 percent in cybercrime cases in the year 2019. Around 4, 4546 cases of cybercrimes were registered in 2019 as compared to 28,248 in 2018. Increasing adoption of emerging technologies across banking, retail, information technology, defense, and manufacturing sectors has also raised the risk of cybercrimes which is again driving the growth of the internet security market. The growing popularity of digitalization has further propelled the growth of the internet security market. Moreover, technologies such as the Internet of Things (IoT) and new business models extensively rely on global digitization for their growth. This is further augmenting the growth of the market.

North America is projected to gain significant growth of the market over the forecast period and this is attributed to the presence of key vendors coupled with the strong presence of the IT industry in the region. The United States has the most advanced software and information technology (IT) services industry in the world. According to CompTIA, there is more than 525,000 software and IT services companies in the United States (approximately 40,500 tech startups were established in 2018 alone.

Key Developments:

1.     In September 2020, BullGuard announced its new 2021 suite of antimalware solutions featuring Dynamic Machine Learning capabilities and Multi-Layered Protection. The BullGuard 2021 security enables consumers to confidently perform sensitive online transactions in absolute safety and rest assured knowing cyber threats are stopped dead in their tracks.

2.     In October 2020, ESET, a global provider of cybersecurity, has launched new versions of its Windows security products for consumers. The new versions upgrade the protection in ESET Internet Security, ESET NOD32 Antivirus, and ESET Smart Security Premium

3.     In August 2019, TDS® has launched TDS Internet Security, a new security product to keep customer’s internet and online devices safe.

 

 

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