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Global Cybersecurity Market Forecast And Opportunities 2020

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Introduction

Career upliftment and the economic growth is something everyone wants in the present scenario. In fact, they have become the widely discussed topics on the internet. With the blooming internet spectrum, the demands of those who can contribute to the smooth flow of tasks on this platform under a secure environment have been increasing. Generally, these professionals are called as Cyber Security experts. 

Well, the fact couldn’t be denied that the demand of these professionals is increasing day by day and it is largely predicted that the Global Cyber Security Market Forecast and opportunities in 2020 are going to amaze the entire IT sector. There are many organizations dealing with Cyber Security and they have almost doubled their profits in the last five years. One reason for this is the rising demand for the cybersecurity tools.

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9. Insights on Cyber Security Market

It is quite true that an exponential growth has been seen in the Cyber Security markets and you might have no idea but the fact is the market will be worth 202 billion USD. One of the strange facts is most of the sectors dealing with technology can be grown by eliminating or imposing a limit on the inefficiencies, the Cyber Security has been enhanced due to increasing cyber crimes. 

  • Because the internet is blooming ad a lot of new IoT devices will soon be deployed among the networks across the globe, it is really very important to make the networks strong in terms of security and privacy. 
  • This is one of the major factors that can be viewed as the reason why a significant growth has been seen in this domain.
  • In one of the foresight report of 2018 about the Cyber Security stated that the cyber attacks will reach the new levels and a lot of efforts are to be made on keeping the information safe on the internet. It is actually viewed as the major factor that will contribute to enhancing the demand of professionals in the time to come.

Related Article: Reasons To Learn Cyber Security

8. Rising Growth of the Cybersecurity Market

The fact couldn’t be denied that the Cybersecurity market has been increased up to a great extent in the last few years. Some leading reasons are 

  • Ransomware is something that is no so powerful in the present time
  • Mobile phones are not as secure as PC and they are largely attracted to stealing personal details and other information
  • The Internet Of Things is soon going to be a reality
  • The intruders have equipped themselves with better technology
  • A number of cybersecurity vendors are present across the globe who have simply the best tools available with them to tacked these challenges

The application security solutions are widely demanded because, on an average basis, around 65,000 new devices are connected to the internet each day across the globe. Most of these devices are easily susceptible to the APT’s i.e. Advanced Persistent Threats. Every organization wants to keep their tools safe. It is because of no other reason than this, the cyber security market during 2018-20 will witness excellent CAGR. In fact, Cyber Security is a domain which will soon become the allure of the technology all over the world. 

The defense and aerospace sectors are widely investing in this technology. The adoption rate of security solutions by these sectors is huge. There are several other sectors which are also contributing to enhancing the net worth of cybersecurity up to a very good extent. These sectors are Finance, Banking, Insurance, as well as telecom. 

Related Article: Cyber Security Frameworks

Cyber Security Market Predictions

7. Cybersecurity Market Predictions

The European and US markets are largely predicated to dominate the largest share of the Cyber Security and that too in the last two years. One of the leading factors for this is many organizations are adopting and accepting the security tools at a very fast rate. Because European and US markets have a huge impact on global markets, many other nations are also widely spending on the Cybersecurity and this is exactly what they are enhancing the overall size of Cyber Security markets.

  • Vendors such as Palo Alto Networks, IBM corporations, Trend Micro Inc, Symantec Corporations, Splunk Inc, Imperva Inc, Webroot Inc and Checkpoint software Technologies have gained an exponential growth in recent years. Most of these organizations have plans to create a very large number of jobs shortly for the experts due to increasing demand for their services and products
  • The worldwide Cybersecurity expanding will increase and the game players in the markets are well-aware of this fact. This is the reason why there are some really powerful tools are available in the markets to deal with the Cyber Security related challenges
  • IDC analysis says there will be the growth of around 18% in the mobile security, 10% in SIEM, 10% in the threat intelligence and 50% growth will be there in the Cloud Security.

6. Cybersecurity Career Forecast

Well, it is one of the most common sayings in the present time and i.e. Cyber Security will rule around 50% of the IT sector by 2022. This is because organizations are working very hard to meet the shortfall between the solutions demanded and their availability. Many organizations have worked very hard to come up with the solutions that are simply the best in every aspect and are good enough to be trusted ion the long run. The credit actually goes to those genius minds that have enabled them to keep up the pace in this matter.

  • Presently, there is a lot of gap between the demand and the availability of the Cyber Security Professionals. 
  • There are many career opportunities available to those who have the professional recognition of their skills in providing Cyber Security Solutions
  • The US markets will experience more than 8 million new jobs for those with certification in this domain in the next 4 years
  • The overall demand for exports have increased by more than 50% in the recent years
  • A lot of options are available to get the Cyber Security Training and become a professional and the best part is there is no need for you to worry about anything if you need to build a career in this domain

The recent research by Cisco shows that the around 30% of the overall available jobs will remain unfilled even by next 5 years and organizations will have to struggle a lot to do so. This is because of a huge gap between the demand and availability.

5. Cybersecurity Job Openings

Cyber Security is a vast domain in the IT sector and organizations have to work a lot to keep up the pace towards it. The fact is there are many important sub-tasks associated with this domain and only one professional cannot help meeting an organization its expectations. Therefore most of the organizations have to hire experts in bulk. Many genius minds when work together can easily tackle all the challenges associated with the Cyber threats.

  • IF experts are to be believed, there will be more than 8 million new jobs by the end of 2020 for the experts. It is, therefore, a very good decision to build a career in this domain which is having a  wide scope
  • With the new job opportunities, the experts can easily find the opportunities to work with their best organizations across the globe as both small as well as the large-scale organizations hire professionals
  • What exactly will become a famous job forecast in this domain is the conversion of many IT jobs to the Cyber Security Professionals
  • Almost everyone who will work in IT will be having a role to defend and save data, applications, infrastructure, tools and in case this is true, the overall demand of the professionals will be more than what is being predicted by the reports.

4. Skill Gap - Workforce Shortage

The unemployment rate in the Cyber Security is almost zero and that’s too in the last 5 years. Almost every trainee got the job in the recent years. If experts are to be believed, this will continue till 2022. When compared to any other IT sector, the Cyber Security is the one which is least populated. On an average basis, there will be only one skilled person for every 4 jobs in the Cyber Security in the coming years

  • According to National Initiative for Cyber Security Education in the US, there will be a need of more and more educational institutions who can provide quality cyber Security Training to the experts and can help to fill the this gap
  • In the year 2017, around 7 million positions in this domain were filled and till there are more than 3.5 million jobs lying vacant.
  • There will be around 2 million new openings in the current year 2018. This is 76% more when it is compared with the last 5 years data on the Cyber Security trends in the US.
  • Even the rapidly growing economies in India and China which already have a largest talented pool of technology experts in the world wouldn’t be able to produce an adequate number of professionals that can fill this gap.

3. Cybersecurity Certification Benefits

Well, the fact is a domain which is growing exponentially will be having a very large number of benefits available for those who will undertake the Cyber Security Training presently. There are many benefits experts can simply available by joining this IT sector. Actually, a lot of experts in the IT are switching their jobs and a huge spectrum of them has been seen preferring the Cyber Security. Obviously, it’s because of a large number of pros associated with this domain. 

  • Those with certification in this domain will be having the opportunity to work with top-class organizations across the globe
  • The job of a Cyber Security professional is not very challenging but in fact, it is quite creative. Although a lot of patience and skills are required, there is always something new to learn.
  • Cyber Security professionals are recognized as the most talented IT professionals 
  • The certification is recognizable all over the world and more than 80% countries of the world have vacant positions for the professionals 
  • The certification in this domain assures the applicants to grab the highest positions in the IT sector such as Chief Information Security Officer. According to a report, more than 70% of the well-known organizations across the globe have this position. By the end of 2020, more than 90% of the organizations will have it. It is one of the biggest benefits of this domain one can assure of.

Top IT Security Salaries

2. Highest Paid Salaries

Well, the fat paychecks are other leading things about the Cyber Security domain. Experts can always make sure of this. The average salary of a Cyber Security professional is around 3 times more than others working in the same organization. One major factor as already mentioned in this post is nothing but a huge supply gap. 

  • Sectors such as Finance, manufacturing, data analysis, Defense, IT companies are among the top payers to the professionals in this field.
  • According to the reports based on the US markets, an overall growth of 24% has been seen in the salaries of Cyber Security experts in the last two years alone
  • There are positions such as those dealing with financial transactions and data are even more paying. Although it needs experience, an expert can earn a very large sum of money in this domain.
  • Experts largely believe that the salary experts are currently withdrawing is just a beginning. In a short span of time, organizations will have to pay much more to the workforce than what they are currently paying.
  • The highest paid salary is another leading reason why one who is having basic IT knowledge should proceed with building career in Cyber Security.

Frequently asked Cyber Security Interview Questions & Answers

1. Conclusion

This is everything that you should know about the global cyber security market forecast and opportunities 2020. Probably, there is more to gain and learn about this topic. The Cyber Security trends are blooming and experts are now in a position to grab the best available jobs. With this information, one can easily choose and target the best study and without worrying about anything.