Locks and Security News: your weekly locks and security industry newsletter
17th April 2024 Issue no. 701

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Cyber security market may reach $870M by 2017

The global market for cyber security solutions may grow to USD 870 million by 2017, says research firm IDC.

Cybercriminals use thousands of networked computers (botnets) to 'jam' a website by directing excessive traffic to it, causing it to crash. Such attacks are often termed as Distributed Denial of Service (DDoS).

According to IDC, there was a sharp increase in frequency, volume and orientation of such attacks on websites of leading financial firms and other organisations last year.

"As attacks surged in prevalence and sophistication, organisations were often caught unaware. Embedded capabilities were quickly overwhelmed and outages were readily apparent on the Web," IDC Vice President (Security Products and Services research) Christian Christiansen said in a statement.

This is driving the demand for proactive solutions. "The worldwide market for DDoS prevention solutions will grow by a compound annual growth rate (CAGR) of 18.2 per cent from 2012 through 2017 and reach USD 870 million," it added.

Expansion of cloud services and mobile networks could create additional targets for DDoS attacks. While firewalls, intrusion protection and other devices can mitigate low-level attacks, large volumetric attacks can be an issue as these may be unable to separate legitimate from illegitimate traffic.

10th April 2013