Global Web Security market to reach US$ 5.07 Billion in 2025

The Global Web Security Market is estimated to be worth US$ 2.96 Billion in 2019 and is projected to grow at a CAGR of 9.4% to reach market size of US$ 5.07 Billion in 2025.

The growth of the market is driven by factors such as Increasing Risks related to the data or information security, Migration to cloud-based services by Enterprises, Advancements in web technology and Surge in social media scams.

Definition / Scope
Market Overview
Market Risks
Top Market Opportunities
Market Trends
Industry Challenges
Technology Trends
Pricing Trends
Regulatory Trends
Other Key Market Trends
Market Size and Forecast
Market Outlook
Technology Roadmap
Distribution Chain Analysis
Competitive Landscape
Competitive Factors
Key Market Players
Strategic Conclusion
References
Appendix

Definition / Scope

Web security is a software framework running on the network that protects web users from web-related malware and targeted cyber-attacks.

Web security consists of any applications or cloud storage services that are used against external viruses or web-based malware to protect the data of the corporate users. It also allows the company to monitor the actions of the employee on the Internet and to protect the data from any misuse or loss.

Web Security can be deployed in a variety of ways including appliances, virtual appliances, cloud services, and hybrid models. For web application management, malware detection, SSl inspection, data loss prevention, URL filtering and other applications, corporate network protection is also used.

Corporate web security provides improvement of security controls such as preventing the loss of productivity and other complications that many business organizations and enterprises face.

Email remains the number one threat vector. Web Usage is second to email as the major vector of threat for cyber-attacks. Web Usage is the Hacker’s favorite for Command and Control as numerous types of attacks have evolved including the recent outbreak of browser-based skimming attacks.

The complexity and volume of threats have significantly increased in the last few years. Web-based threats have become big business, targeting both specific verticals and individuals within organizations.

In particular, sophisticated and highly targeted Web-based attacks have increased. Recent examples of browser-based attacks include Magecart and the ongoing proliferation of crypto mining malware.

The threat landscape is constantly changing. There is the continuing prevalence of advanced and targeted threats along with malware growth. Incidences of web browser and Web-based email targeting attacks are increasing.

Attacks have grown more sophisticated, attacking high-profile targets. For instance, the number of malware attacks has increased from 8.2 Billion to 9.9 Billion in 2019.

Lucrative Opportunities exist for solution providers in the Web Security Market for those who offer web-based security solutions for new age technologies such as Cloud Computing and Connected Devices such as IoT, mobile and BYOD Devices.

Market Overview

Web Security solutions help to prevent malware from accessing a network through normal web user activity. Malware may include viruses, spyware, rootkits, adware and more. The bulk of malware infections are focused on getting organizations and users to access sensitive information for financial gain.

Industrial hacking is also a common objective of malware, such as stealing trade secrets. Additionally, malware may provide access to an infected PC through a backdoor exploit or similar process. This helps hackers to monitor the infected Computer and send malware or spam to other machines without the user knowledge. Most Web Security solutions provide bi-directional defense that can prevent the entry and exit of malware into a network.

The Web Security Solutions market refers to any device, appliance, or cloud-based service that protects corporate users and networks from web-based malware, allows organizations to monitor web-based employee activity and helps prevent data loss. Web Services, including appliances, virtual appliances, cloud infrastructure and hybrid models, can be implemented in various form factors.

Cloud-based and hybrid Cloud security solutions are seeing strong market growth due to the growing usage of mobile devices, remote workforce and cloud growth in general. Almost all vendors who previously sold appliances have now introduced, or are planning to do so in the very near future, a cloud-based alternative to their portfolios. Customers also opt for a hybrid model as a stepping-stone to a cloud-based system or meet specific demands for different types of employees (e.g. headquarters vs. traveling staff).

Web Security vendors are rapidly extending the capabilities of their solutions in data loss prevention (DLP). Nonetheless, these are still fairly limited compared to full-scale content-aware DLP solutions and most large companies will usually still implement a robust content-aware DLP solution for greater security and compliance requirements.

The key growth factor for the Web Security market continues to be the need to defend corporate networks against web-based malware attacks. Incoming malware is a big risk, the loss of profitability is a major concern and so is the danger of sensitive data loss. All these issues keep driving fast adoption of Web Security solutions.

While companies of all sizes are concerned about security, the Web Security market continues to see strong growth and invests heavily to protect themselves from web-borne threats. The business is forecast to surpass sales of US$ 2.96 billion in 2019, and rise to over US$ 5.07 billion by 2025.

Market Risks

Product obsolescence

The Global Web Security Market is extremely saturated and mature with a slew of new entrants and established players exist in the market, as around 30 established players are present in the Global Web Security Market. Product obsolescence is sought as the major factor for the saturation in the market.

As evident the web security products are becoming obsolete and they are witnessing waning demand, which leads to diminution of the price of the security package offered by the providers which affects the profitability of the solution provider.

Consolidated Market

The Global Web based market is highly consolidated and concentrated with 4 of the major players occupying 60% of the market share. The consolidated state of the air conditioner market is a bane for the new entrants, as it offers little to no market expansion.

The Global Web based market is concentrated with few of the global giants occupying a major share of the pie and they are focused on offering innovative products through their R&D activities, which is a no-goer for the new entrants as they have shoe-string margins for their R&D activities. The consolidated nature of the Global Web based market affects the profitability of existing players and acts as a blockade for new entrants.

Top Market Opportunities

Leveraging AI, Machine learning and blockchain technologies

Web security vendors integrate Artificial Intelligence (AI) and machine learning principles into their solutions to tackle critical threats relevant to the hyper-connected workplace, with better capabilities to identify, mitigate, and respond.

Technology advances like AI and machine learning are turning the tides against cybercriminals. AI and machine-based learning cybersecurity tools examine a large amount of data from past threat records and recognize new threats to save corporate networks from attempts at infiltration.

AI and machine learning techniques play an integral role when it comes to identifying and safeguarding against the advanced security threats.

The cyber threats increase in number by day and conventional security solutions are unable to detect malware, ransomware, and other sophisticated cyber threats. Cybersecurity professionals are therefore leveraging AI and machine learning technologies to address the evolving cyber threats facing individuals, businesses and governments.

Such advanced integration with technologies such as AI, machine learning, and blockchain provides enterprise-grade security by automating the entire cyber defense system detection and mitigation, ultimately driving demand for advanced cybersecurity solutions and services over the next 5 years.

Growing demand for cloud-based security solutions among SMEs

One of the key trends enabling the overall growth of the Web security industry is growing cloud-computing adoption. Web security approaches are based on complex predictive and statistical models, managing vast quantities of data. Only cloud technology can accomplish this data monitoring at low cost in a secure and reliable environment.

Key players including IBM Corporation, Cisco System and others are focused on combining cloud infrastructure with solutions for cyber security. These cloud-computing services are backed up by ‘Analytics as a Service’ (AaaS) offerings, allowing users to detect and mitigate uncertain threats quickly.

Market Trends

Increasing Risks related to the data or information security

The demand for web security is growing because of raising data or information security risks within the organizations. Most organizations suffer from data loss, phishing and malware attacks, which are used to steal sensitive information.

As evident with the recent attack on the foreign exchange company Travelex taking down its websites across 30 countries causing chaos for foreign exchange transactions worldwide during the month of January 2020. The ransom was rumored to be the sum of US$ 6M.

The rising demand from enterprises for securing their web platforms from data or information security risks is driving the demand for Web Security Solutions.

Migration to cloud-based services by Enterprises

The most significant trend in the Web security market is the growth of organizations migrating to cloud. The cloud is driving new strategies in Web security. In order to reduce costs / complexity, simplify security for mobile users and adopt new capabilities, companies are interested in moving to cloud-based security.

One key factor is the adoption of Office 365. Migration to cloud-based services pushes the infrastructure beyond the security boundaries of an enterprise and theoretically opens it to more frequent and easier cyber-attacks.

According to a survey by statista, security is considered as the major challenge for adoption of cloud by enterprises globally in 2019 and 2020. Around 83 percent of respondents found security to be a significant challenge or somewhat of a challenge.

Advancements in web technology

Increasing web technology developments are also leading to increased security concerns. Companies are moving towards the adoption of Web 2.0 applications in relation to this, and the risks associated with these web applications have led to the need for enhanced Web security solutions.

In addition, the failure of network gateway defenses to protect against breaches and intruders has increased the demand for Web security solutions.

Surge in social media scams

Rise in spam on social media, and mobile phone malware is growing with rising internet penetration across the globe is opening vulnerability to web-based attacks and hence proves fugitive to the security of the internet users.

It is found that half of Internet users have witnessed cyber-attacks and 75% of them have encountered multiple instances of cyber-attacks and Social media scam is at the top most in the list of common cyber-attacks. Therefore the increase in the social media scams makes it necessary to adopt web security solutions.

Frequently arising web security software issues

Frequently occurring software problems such as bugs, security gaps, and software crashes are a major concern for the Web security market.

Also the need for frequent upgradation and updating of security software which is required for storage and protection of software is expected to hinder the growth of the segment.

Use of Open Source and Pirated Software

Software piracy refers to copying and sharing software or solutions without authorization. Software counterfeiting has risen over the years, owing to the availability of open source platform. Software piracy helps unlawful people make a fake copy of software, which is a replica of the original software.

Software piracy, however, is cybercrime, which involves illegally copying, distributing, selling, or installing copyrighted software, and downloading websites. There are many forms of software piracy where the most common types are soft lifting, software counterfeiting, bundling of the Original Equipment Manufacturer (OEM), hard disk loading, and renting.

Various companies are using pirated software, since the original versions are expensive. There is a strong correlation between web security and the use of unlicensed software; thus, continued use of pirated security software is one of the biggest constraints that hamper the web security market growth.

Industry Challenges

Shortage of workers with the required skills

The demand for trained cybersecurity professionals to handle strategic IT security is rising increasingly as data and operations become even more closely intertwined.

Cybersecurity Workforce Survey 2019 (ISC) 2 recently published pointed to a severe shortage of cybersecurity professionals. For the first time, the study reported that there are currently 2.8 million qualified professionals working in the field globally, and that an additional 4.07 million more are expected to protect organizations.

U.S. organizations currently employ 804,700 cybersecurity professionals, according to the findings, and filling the current shortage of 498,480 needed workers would take a 62 per cent increase.

The gap in Asia Pacific is much larger at 2.6 million and somewhat narrower in Europe at 291,000. Overall, it would take an increase of 145% to overcome the shortage, which is no small task.

The Acute shortage of Skilled Workforce is developing as a long-term challenge in the Web Security Market that has to be dealt with.

Commoditization of the Market

Commoditization of e-mail security means that the underlying technologies are becoming undifferentiated and replaceable, especially antivirus and antispam engines. Several years ago, the main virus detection technology became a commodity, and spam detection rapidly barreling in the same direction.

The lack of innovation is sought as the primary factor causing the commoditization of the market and commoditization acts as a critical challenge for the growth of the segment.

Technology Trends

Three new technologies adopted in the field of network security include deep learning, deep fake technology and user behavior analytics

Deep Learning

Deep learning blends artificial intelligence and machine learning for malicious behavior detection. Moving beyond analytics of behavior, deep learning looks at organizations rather than single individuals, which can be used to counter advanced persistent threats.

Deep Instinct is one organization that offers deep learning solutions for cybersecurity applications. The company’s attention is on preventing “zero-time” threats

Deep fake Technology

Deep fake technology is an emerging technology that enables the video and voice to be manipulated in ways that seem extremely real. This technology could be used by hackers for sophisticated phishing scams.

By creating software that detects these deep-fakes, some startups address this problem. Truepic and Serelay are amongst these startups.

User Behavior Analytics

User behavior analytics are used to detect malicious and suspicious actions, which can alert to threats to cybersecurity. Big data analytics was used by the technology to detect attacks right after they occur based on anomalous activity by hackers.

Few examples of companies that provide cybersecurity user behavior analytics solutions include Aruba, Dtex, and Exabeam.

Pricing Trends

The Web Security Solutions are available based on Subscription basis and are priced based on the features offered by them and it varies from vendor to vendor.

A typical web security package that includes features such as Web application firewall (WAF), Virtual patching & malware prevention, 24/7 security monitoring, Security reports & alerts, Central security dashboard is priced at US$ 15 per month and around US$ 150 per year that supports around 50 websites.

Regulatory Trends

The World Economic Forum (WEF) has identified cyber threat as one of the most important risks to the global economy in its Global Risk Report 2018. It claimed cyber-attacks in the same report would be the third-largest global threat, most likely over the next five years.

The WEF announced plans in January 2018 to create a Global Center for Cybersecurity to provide governments and businesses with a global forum to work on cybersecurity challenges.

The center is located in Geneva, Switzerland, and is managed by the WEF. It began to formulate a comprehensive cybersecurity regulation, which influenced the creation of the General Data Protection Regulation (GDPR).

Regulation in European Union

The GDPR, came into effect on May 25, 2018, was implemented to establish a single set of rules applicable to all companies in the European Union (EU) and to protect the personal data of all EU citizens.

The GDPR imposes strict punishment for noncompliance, with fines ranging from €10 million (US$ 11.54 million) to 4% of the company’s annual global turnover. Infringement of rights could cause a company a maximum fine of €20 million (US$ 23 million) or 4% of its global turnover.

In addition, a company also runs the risk of significant reputational damage, as organizations are obliged to report any breaches.

Regulation in USA

The U.S. does not have a single all-encompassing data protection law or regulations such as the EU’s GDPR. Rather, it regulates cyberspace through numerous privacy laws and regulations developed at the federal and state levels.

The current regulatory structure for cybersecurity in the U.S. is a matrix of numerous laws that regulate the private sector, public authorities, financial institutions, health-care organizations, and third parties.

Current Regulatory structure for Web Security in USA

Sector	Acts	Regulatory Authority
Private Sector	Cybersecurity Act (2016)	Department of Homeland Security
Public Authorities	Federal Cybersecurity Enactment Act (2016)	Department of Homeland Security
Financial Institutions	Gramm-Leach-Bliley Act (1999)	Federal Trade Commission, federal banking agencies
Healthcare Organization	Health Insurance Portability and Accountability Act (1996)	Department of Health and Human Services

Regulation in Australia

The Australian government established the Australian Cyber Security Centre (ACSC) in 2014 to coordinate the country’s cybersecurity operations and capabilities. ACSC pools the knowledge and resources of the country’s five top organizations – Defense Department, Attorney General’s Department, Australian Security Intelligence Organization (ASIO), Australian Federal Police (AFP), and Australian Crime Commission.

Other Key Market Trends

Impact of COVID-19

The COVID-19 pandemic poses the risk of increased cyber attacks due to high dependency on digital tools. Phishing spams and hacking campaigns are on the rise in countries such as the U.S., Japan, Russia and China.

For instance, In May 2020, Magellan Health, a major US healthcare provider based in Phoenix, Arizona found themselves victims of ransomware after falling for a phishing email that appeared to be from a client. The hackers proceeded to exfiltrate records containing personal information before launching ransomware to encrypt files.

Increasing attention over the identity verification requirements during the crisis would be crucial to strengthening protection for remote workers to reduce associated cyber threats.

Market Size and Forecast

The Global Web Security Market is estimated to be US$ 2.96 Billion in 2019 and is poised to grow at a CAGR of 9.4% to reach US$ 5.07 Billion in 2025.

In the web security industry, the most significant trend is the acceleration of organizations migrating to cloud. The cloud is pushing new strategies in Web security. In order to reduce costs / complexity, simplify security for mobile users and implement new capabilities, organizations are engaged in switching to cloud-based security. This factor is set to augur well for the growth of the segment.

Market Size based on Solutions

On the basis of Solutions, the Global Web Security Market is classified into Cloud-based services, Appliances services, Hybrid solutions and On-premises services.

The Hybrid solutions sub-segment leads the segment and accounts for 45% of the market share and US$ 1.3 Billion in market size in 2019 and is expected to grow at a CAGR of 9.2% to reach US$ 2.2 Billion in 2025.

The Cloud-based services is another leading segment in the market and it constitutes 27% of the market share and US$ 799 Million of market size in 2019 and is projected to grow at 10.2% to reach US$ 1.43 Billion in 2025

On-premises services sub-segment is expected to witness CAGR of 11.4% and is set to reach market size of US$ 1.02 Billion in 2025 from US$ 533 Million in 2019

Appliances services accounts for 10% of the market share and US$ 296 Million in market size and is expected to record growth rate of 9.8% to reach US$ 518.7 Million in 2025.

Market Size based on End-User Industry

Based on the end-user industry, The Global Web Security Market is classified into government public utilities, IT and telecommunication, healthcare and life sciences and others (includes manufacturing, retail and transportation)

IT and telecommunication is the largest sub-segment in the market and the growth in the sub-segment is driven by the increasing use of the web security in the information and technology industries.

IT and telecommunications sub-segment accounts for 51% of the market share and US$ 1.5 Billion in 2019 and is projected to grow at a CAGR of 9.8% to reach US$ 2.63 Billion in 2025.

Healthcare sub- segment is the fastest growing sub-segment and is expected to witness CAGR of 11.6% and is set to reach market size of US$ 1.54 Billion in 2025 from US$ 796.6 Million in 2019

Government sub-segment accounts for 18% of the market share and US$ 532.8 Million in market size and is expected to record growth rate of 9.4% to reach US$ 913.4 Million in 2025

The Other sub-segment including manufacturing, retail and transportation constitutes 5% of the market share and US$148 Million of market size in 2019 and is projected to grow at 9.2% to reach US$ 251 Million in 2025

Regional Analysis

By region, global Web security market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa.

North America leads the segment and accounts for 36% of the market share and US$ 1.06 Billion in market size in 2019 and is expected to grow at a CAGR of 8.6% to reach US$ 2.2 Billion in 2025.

Europe is another leading region in the market and it constitutes 22% of the market share and US$ 651.2 Million of market size in 2019 and is projected to grow at 9.4% to reach US$ 1.12 Billion in 2025

Asia Pacific represents 26% of the market share and is expected to witness CAGR of 11.8% and is set to reach market size of US$ 1.5 Billion in 2025 from US$ 769.6 Million in 2019

Latin America accounts for 11% of the market share and US$ 325.6 Million in market size and is expected to record growth rate of 8.7% to reach US$ 537.1 Million in 2025.

Middle-East & Africa is projected to hold market share of 5% of the market share and US$ 148 Million in 2019 and is expected to reach US$ 270.9 Million in 2025 growing at a CAGR of 10.6%.

Market Outlook

The Global Web Security Market is estimated to be worth US$ 2.96 Billion in 2019 and is projected to grow at a CAGR of 9.4% to reach US$ 5.07 Billion in 2025.

The Web Security Market is driven by factors such as increasing Risks related to the data or information security, Migration to cloud-based services by Enterprises, Rising developments in web technology, Surge in social media scams and these factors are set to augur well for the growth of the segment in the forecast period (2019 – 2025).

Hybrid solutions are anticipated to be the fastest growing sub-segment for the solutions segment. It is anticipated that the growing implementation of hybrid solutions as it is technically advanced and can be used in large organizations is the primary reason for the sub-segment to lead the segment.

The IT and telecommunications sub-segment of the end-user market is projected to be the largest. The growing use of web security in the information and technology industries is expected to be the key factor for the growth of the IT and telecommunications sub-segment.

North America is projected to dominate the segment with the largest market share. Combined with the availability of highly developed information technology network in the region, the presence of key players in the region is expected to be a major factor for the region to lead the global Web security market.

The Asia-Pacific region is projected to be the fastest growing region on the global web security market. The deployment of web security by various start-ups and small and medium sized businesses is expected to drive the growth of the region’s web security sector.

Technology Roadmap

To be successful, a vendor needs to use real-time threat intelligence to drive its Web security solution. This can be achieved by gathering and analyzing the security telemetry across a global network. Vendors with a large number of customers and strong research team are best placed to collect and operationalize data concerning threats.

Companies should address customers’ demand for a comprehensive security platform. Market participants with a broad security portfolio ranging from network to endpoint protection have a competitive advantage.

The companies that leverage the cloud migration trend and meet customers’ demand for easy-to-deploy scalable solutions are poised to witness significant growth. Competition in cloud-based web security requires substantial investment in hardware, data centers, and networking.

Distribution Chain Analysis

The following processes are part of any web application security implementation

Information gathering – Manually review the application, identifying entry points and client-side codes. Classify third-party hosted content.

Authorization – Test the application for path traversals; vertical and horizontal access control issues; missing authorization and insecure, direct object references

Cryptography – Secure all data transmissions involving encryption, usage of strong algorithms and preventing random errors.

Denial of service – Improve an application’s resilience against denial of service threats by testing for anti-automation, account lockout, HTTP protocol DoS and SQL wildcard DoS.

Competitive Landscape

The market is competitive with all the players competing to gain market share. Strong competition, rapid growth in technology, and frequent changes in adoption rate of network security solutions by various industry verticals are key factors that confront market growth.

The vendors compete based on cost, reliability, and aftermarket method. It is crucial for the vendors to provide cost-efficient and high-quality solutions to survive and succeed in an intensely competitive market.

The companies in the Web security market are majorly adopting the strategy of innovating on their product and service offerings with increasing investment on research and development (R&D) activities.

Competitive Factors

Key companies in this aims to gain and maintain a competitive differential advantage by constantly investing in security innovations and acquisitions.

The major players in the market such as Check Point Software Technologies Ltd., ContentKeeper Technologies, Inc., FireEye, Inc., Barracuda Networks, Inc., and McAfee, LLC are entering onto partnerships or acquiring other security businesses to offer an entire suite of security solutions.

The vendors are offering advanced Web security solutions as per the requirement of the organizations and size of enterprises. The market players are offering cloud-based solutions of Web security such as Cisco Systems and McAfee, Kaspersky Lab.

Key Market Players

Some of the Key Players in the Global Web Security Market includes

Barracuda Networks, Inc. provides security, networking, and storage solutions. The Company offers SaaS deployment, cloud computing, threat protection, backups, and other related solutions. Barracuda Networks serves customers worldwide.

Check Point Software Technologies Ltd. (Check point), incorporated in July 5, 1993, develops, markets and supports a range of products and services for information technology (IT) security.

It offers enterprises a platform to deploy independent, modular and interoperable security applications (Software Blades), such as firewall, virtual private network (VPN), intrusion prevention system (IPS), Application Control, Anti-Bot, antivirus, data loss prevention (DLP), policy management, event analysis or multi-domain management.

Cisco Systems, Inc., is engaged in designing and selling a range of technologies across networking, security, collaboration, applications and the cloud. Its product and technologies includes infrastructure platforms; applications; security and other products. Security product category primarily includes Company’s unified threat management products, advanced threat security products, and web security products.

FireEye, Inc. provides intelligence-based cybersecurity solutions that allow organizations to prepare for, prevent, respond to and remediate cyber-attacks. The Company offers various products, such as Threat Detection and Prevention Solutions, which include network security products (NX and Multi-vector Virtual Execution (MVX) Compute Node Series), e-mail security products (EX Series and e-mail threat prevention cloud (ETP), endpoint security products (HX Series) and content security products (FX Series)

Forcepoint Inc. delivers a portfolio of cybersecurity capabilities, including insider threat solutions; data loss prevention; next-generation firewall technology; cloud and on premise Web and e-mail security, and cross domain transfer products.

Forcepoint’s customers deploy its software products on standard servers or other information technology hardware, including Forcepoint optimized appliances, as a software-as-a-service (otherwise referred to as a cloud-based or cloud service) offering, or in a hybrid hardware/cloud configuration.

McAfee, Inc. operates as a computer security software company. The Company offers data center, cloud defense, threat intelligence network, and cybersecurity solutions, as well as data and endpoint protection, risk, compliance, and security information management services. McAfee serves education, enterprises, governments, and consumer clients worldwide.

Sangfor Technologies Inc. is a China-based company principally engaged in software and information technology businesses. The Information Security segment includes mainly online behavior management, Virtual Private Network (VPN), next-generation firewall, application delivery, Wide Area Network (WAN) optimization, as well as cloud security products and services.

Sophos Group Limited, formerly Sophos Group plc, operates as an investment company for the Sophos Group. It is a provider of cloud-enabled end-user and network security solutions. Its products under enduser security include Sophos Mobile Control 6, which is developed to include Sophos Secure Email, a personal information management container solution for e-mail and contacts, and Sophos Server Protection Advanced, which integrates server application to deliver single-click server lockdown.

Zscaler, Inc. is a cloud-based security company. The Company provides a platform that is built as a multi-tenant, distributed cloud service designed to scale and deliver real-time insights into security issues. The Company offers two principal cloud services, such as Zscaler Internet Access (ZIA), and Zscaler Private Access (ZPA).

NortonLifeLock Inc., formerly Symantec Corporation, is engaged in the consumer cyber safety business. The Company focuses on allowing customers to be productive and protected at home and at work. Its Norton-branded services provide multi-layer security and identity protection on desktop and mobile operating systems, to defend against online threats to individuals, families and small businesses.

Its products include Norton AntiVirus Plus, Norton 360 Standard, Norton 360 Deluxe, Norton 360 with LifeLock Select, Norton 360 with LifeLock Advantage, Norton 360 with LifeLock Ultimate Plus, Norton Secure virtual private network (VPN), Norton Privacy Manager, Norton Family Premier, Norton Mobile Security for Android, Norton Utilities Premium and Norton Small Business.

Strategic Conclusion

To summarize, the network security industry is fast-growing, with spending on global IT security expected to reach US$ 1.3 trillion cumulatively by next five years from by 2019-2024.

Both companies and national governments look set to spend an increased percentage of their annual budgets on Web security, as cybercrime becomes more sophisticated and attacks increase.

Meanwhile, a rise in the use of cloud services and mobile devices among businesses means that Web security companies will most likely be developing more enhanced cloud Web security in the coming years. Larger network security providers are also expected to increase their market share significantly.

References

Appendix

SMEs – Small & Medium Enterprises
R&D – Research & Development
AI- Artificial Intelligence
ML – Machine Learning
OEM – Original Equipment Manufacturer
WAF – Web Application Firewall
WEF – World Economic Forum
GDPR – General Data Protection Regulation
ACSC – Australian Cyber Security Centre
ASIO – Australian Security Intelligence Organization
VPN – Virtual Private Network
IPS – Intrusion Prevention System
DLP – Data Loss Prevention