The cyber security analytics market is likely to grow even further over the next five years, as companies strive to avoid security breaches, research has established.
The Security Analytics Market report from Markets and Markets anticipates that as companies recognise the value of carrying out penetration testing, they will find a need for security-related products.
Vendors of such products are constantly developing their systems so that they become increasingly secure, which is something that businesses are keen to make the most of.
An increased number of security breaches and the outdated defence systems used by organisations mean that companies are keener than ever to protect themselves against attack.
The report stated that as big data analytics continue to emerge, the need for cyber security will become even greater for businesses all over the world.
North America is expected to be the biggest market for security analytics, although on a global scale the report predicts a rise from $1.96 billion in 2013 to $3.22 billion in 2018.
This follows research from Canalys, which forecast that despite budget cuts, companies are still keen to spend on cyber security measures.
The organisation predicted that the IT security market would grow at a rate of seven per cent a year by 2017 – in the Asia Pacific region, the rise is expected to be nine per cent this year alone.
Both these reports illustrate just how aware companies are of the need to protect their data from attack, especially as the methods used by hackers become increasingly sophisticated.
As Markets and Markets indicated, attackers are keen to exploit any vulnerability they can find, which makes it increasingly important for businesses to identify even the smallest of flaws.
Having the best possible security procedures in place is just one of the steps towards improving protection.