The Cyber Security Industry Is A Period Of Growth Essay

1865 Words8 Pages
Firm Strategy
The entire cyber security industry is in a period of growth. As both corporations and private consumers are becoming aware of vulnerabilities with their online presence cyber security firms, have learned how to offer in-demand solutions for a wide variety of customers. Within the field of cyber security, there are several different types. These different types of services range from protection on the Internet of Things to producing devices to protected connected cars or phones. Each of these areas are expected to grow by the year 2020 with some being more in demand than others. In the article, “Cybersecurity Market Reacher $75 Billion in 2015, Expected to Reach $170 Billion by 2020,” Steve Morgan notes that, “the hot areas for growth are security analytics / SIEM (10%); threat intelligence (10% +); mobile security (18%); and cloud security (50%)” (2015) . Additionally, the Internet of Things has seen new cybercrime which has driven spending up in this area. Morgan comments that the Internet of Things security market will expand to $29 billion by 2020 (2015). Firms that offer these demanded services are in the best possible position going forward. In addition to the existing services, firms must strategize around future security issues.

As more devices are linked to the Internet, even more people are integrated mobile technology into their daily lives, there is an increasing need for cyber security. In addition to helping individuals to protect these types of
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