Cybersecurity in Retail Industry Estimated to Be Worth $140 Billion by 2021

Published on : Jul 16, 2018

Albany, New York, July 16, 2018: Retailers have become the target of choice for organized crimes that launch cyber-attacks to obtain payment card and personal information that can be used for fraudulent purchases and identity theft. Recently, Market Research Hub (MRH) has broadcasted a study titled “Cybersecurity in Retail - Thematic Research” to its massive online repository, which focuses on the present impact of cybersecurity in retail, and how retailers prepare to ride the digital wave to best align with future business objectives.

The examination gives a total point of view on global cybersecurity market's development all through the conjecture time frame of 2018 to 2012 regarding market income (US$ Bn). Overall, it identifies the main trends in the cybersecurity industry over the next 12 to 24 months. According to the latest study evaluations, by 2021 the global cybersecurity market is expected to be worth more than $140 billion, up from its valuation of worth $114 billion in 2017.

In the present time, retailers spend millions of dollars a year on data security, forming extensive firewalls, hiring world-class cybersecurity experts and taking other steps. With the growth in technology, retailer IT infrastructures are constantly changing and it can be difficult to ensure security measures that have worked in the past will continue to work when additional equipment or software is added.

To offer clear and accurate results, the research study provides an industry analysis, emphasizing that the types of cybercrime, the motivations for these crimes, the assets targeted, and remedies differ. The research experts look at 12 most important cybersecurity technologies and determine that the most important ones in terms of driving the cybersecurity industry revenues over the next two years are network security appliances, cloud security, and AI. Further, the research indicates the winners in these high-growth cyber technology for the coming years, such as

  • Unified threat management: Check Point Software, Cisco, IBM, Palo Alto Networks, Fortinet, SecureWorks, Sophos, and Symantec.
  • Cloud security: Micro Focus, Barracuda Networks, Qualys, Fortinet, Imperva, and Sophos.
  • AI: IBM, Alphabet, Splunk, Microsoft, and Palantir.

One of the major highlights of the study is the competitive landscape section. The report focuses on the big players in the cybersecurity industry and where do they sit in the value chain. In the present time, retail leaders in the market include Amazon, Alibaba, eBay, and Target.

At last, the study includes a section of technology briefing which includes The NIST framework. The report on cybersecurity in retail industry has been analyzed using an extensive research methodology that includes multiple funnels of validation and verification of data using primary and secondary research. With this report, the reader can gain high-level overview of the entire cyber security market and plan future moves to gain a competitive advantage in the years to follow.

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