Cybersecurity Ventures, a research and market intelligence firm specializing in startup and emerging companies, publishes a Cybersecurity Market Report every quarter. Results for Q4 2015, are outlined below and illustrate the growth of the cybersecurity market in the industry. These results demonstrate how and why the cybersecurity industry is booming. A candidate looking to explore career options should certainly consider cyber industry as a potential choice.
- According to research firm Gartner, global spending for information security will increase by 4.7% in 2015 to $75.4 billion and by 2018 it will grow to $101 billion.
- According to a report from Markets and Markets, the second largest market research firm in the world, the cybersecurity market is projected to grow to $170 billion by 2020 at a compound annual growth rate (CAGR) of 9.8% from 2015 to 2020.
- Another report from Markets and Markets estimates that the cloud security market is expected to be worth $8.7 billion by 2019.