Information security - Statistics & Facts

Information security refers to the practice of managing access to information, whether that is securing information from unauthorized access, or verifying the identity of those who claim to have authority to access information. In the consumer context, information security may be limited to the use of passwords to control access to computer hardware, or the use of firewalls and anti-virus software to protect desktop computers and other electronic consumer devices from harmful or malicious intrusion. At the other end of the spectrum, enterprise information security is a complex undertaking, covering computers, servers, routers, telecommunications equipment, and other electronic systems, relying on software, hardware, and information management policies to secure corporate data.

By 2024, the information security technology market is estimated to be worth 174.7 billion U.S. dollars worldwide. Given it's importance in today's information age, the IT security market is expected to continue growing in 2020, despite the overall decline of ICT spending in that year due to the negative economic impact brought about by the global coronavirus (COVID-19) pandemic. Security services represent a major market and are forecast to generate 64 billion U.S. dollars in 2020. Security software has increasingly played a valuable role in the global IT security industry, producing revenues of 43.2 billion U.S. dollars in 2019. The largest firms in the cybersecurity market are multi-billion dollar companies such as Cisco, Palo Alto Networks, and Fortinet, each of which controls a market share of between six and ten percent.

Analysts have suggested that security trends are being shaped by new markets, such as big data or the internet of things. One impact of this has been the shift towards managed security services, a result of the difficulty organizations face in deploying and managing the skills and equipment necessary to face new, rapidly evolving threats. Consequently, security appliances have recorded increased revenues, from 3.1 billion U.S. dollars in the second quarter of 2017 to 4.19 billion U.S. dollars in the second quarter of 2020. Similar to their position in the cybersecurity industry as a whole, Cisco and Palo Alto Networks are noteworthy security appliance vendors, each occupying a market share of between 15 and 20 percent respectively as of 2020. Other industry players include Check Point and Fortinet.

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