PRNEWSWIRE: The “Government Cyber Security Market in the US 2017-2021” by Research and Markets forecasts the government cyber security market in the US to grow at a CAGR of 7.99% during the period 2017-2021.
The report, Government Cyber Security Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is the implementation of BYOD policy. The BYOD policy allows employees of an organization to use their personal devices, such as smartphones, laptops, tablets, and desktops, for official purposes, which will allow them to work without any constraints of time or location. BYOD policy increases the productivity by managing employees travel time and reducing the organization’s operational costs such as repair and maintenance cost for workstations.
According to the report, one of the major drivers for this market is the increasing frequency and complexity of cyber-attacks. There is an urgent need to improve the quality of protection offered to critical digital information due to the increasing frequency and complexity of cyber-attacks. The growing complexity of applications used by companies in their day-to-day business processes has also accentuated the number of false positives and negatives in the process of screening potential threats. Insufficient IT expertise of administrators further complicates this issue.
Further, the report states that one of the major factors hindering the growth of this market is the high cost of deployment. The cost of a cyber security solution includes the cost of software licensing, implementation, system designing and customization, training, as well as maintenance. Organizations have to recruit staff for implementation of the software after its purchase. Further, they have to train their employees on how to use the application efficiently.