Feb 14, 2020 (AmericaNewsHour) --
The Counter Cyber Terrorism Market is expected to reach a market size of $23.7 billion by the year 2020. Cyber Terrorism is a strike that is made on the nation's security network for the purpose of crippling the systems or extracting the information. Cyber Terrorism can be of various forms with national security breach and espionage being one of them. Cyber warfare requires just a laptop or a smartphone and some intelligence unlike the conventional ones that require huge sums of money to be carried out and this much can potentially cripple a country.
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The key drivers for the growth of the Counter Cyber Terrorism Market are growing Digital Security threats and Digitally Stored Sensitive Information.The increase in number of variants of malware is so drastic that it rose from 286 million to an additional 117 million to 403 million in the span of five years.
The damage caused by Stuxnet (a computer worm that targets the types of industrial control systems) was a case in point. In April and May 2007, hackers unleashed a wave of cyber-attacks that crippled dozens of government and corporate sites in Estonia (one of Europe's most wired countries) for 3 weeks. Because of such attacks the importance of defending against cyber Terrorism is not lost on security organizations.
It's part of North Atlantic Treaty Organization's Core task of collective defence. In 2011 China admitted that it had poured massive investment into the formation of a 30-strong commando unit of cyber warriors called The Blue Army who engages in cyber defence operations. Similarly, 130 Hackers were hired by the German Intelligence Agency for its Cyber Defence Station in 2013. The major restraints for the growth of the market are Spending Cuts due to Struggling World Economy and Highly Specialized Field.
The Counter Cyber terrorism market can be segmented on the basis of solutions into Risk and compliance management, Unified threat management (UTM), Security incident management, Identity and access management (IAM), Encryption and Intrusion prevention systems. The market can be geographically segmented into the regions of Asia-Pacific, Europe, North America and Middle East. Asia Pacific is expected to dominate the market during the forecast period, followed by Europe.
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Some of the key players in the Counter Cyber Terrorism market are, Intel Corporation, Kaspersky Lab, Lockheed Martin Corporation, Raytheon, Symantec, SAP, CISCO Systems, Nexus Guard, International Intelligence, Boeing, Dell, Leidos, L-3 Communications Holdings, IBM, Computer Sciences Corporation, Hewlett Packard Northrop Grumman Corporation, Thales Group, Trend Micro Inc, Palo Alto Networks, BOOZ Allen Hamilton Inc., Finmeccanica SPA and General Dynamics Corporation.
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