The internet security market is expected to reach $42.8 billion globally by 2020, registering a CAGR of 8.1% during this period, according to Allied Market Research's (AMR) latest report - "Global Internet Security Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 - 2020". Asia-Pacific will be take the biggest share in terms of market size and growth, reaching $12.2 billion by 2020 with a CAGR of 10.9% during the period.
The leading market research company anticipates a shift towards the adoption of cloud based systems with an 80% adoption rate among top companies. Managed security services will grow at the highest CAGR of 28% over the same period, surpassing the revenue contribution from hardware solutions. AMR noted that industry leaders such as Intel, HP and Symantec are investing heavily to develop cloud based security solutions.
According to AMR, the growth of cybercrime practices such as unethical-hacking, botnets, distributed denial of services (DDoS), malware, spyware, spams, viruses and other such threats that are estimated to reach a figure of $1 trillion globally will imminently drive the internet security market. AMR also highlighted a raising concern against 'malvertising', i.e. malware attack through advertisement links on web-spaces.