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Cybersecurity market to hit $77B

Feb. 21, 2014 - 12:09PM   |  
By MICHAEL PECK   |   Comments
Cyber Security / USB/
The global cybersecurity market continues to rise. (Colin Kelly / Gannett Government Media Co.)

The global cybersecurity market will be worth $77.7 billion in 2014, according to a new forecast by market research firm ASDReports.

The study examined the government, military, critical infrastructure, and private sectors. "‘Cyber security remains a significant challenge for developed markets, with the capacity to cause significant and embarrassing disruption to a range of modern infrastructures and networked systems," said the study. "Spending, globally, continues to remain elevated as the cyber security market seeks greater definition and maturity; with the rapid pace of the development of solutions in response to the evolving threat landscape, the future horizon for security is ever broadening. While the first initial rush towards securing networks in developing countries may be lessening, growth is still robust and is being complemented by additional high expenditure in both developing markets and those developed markets whose threat calculus remains active.’

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