02 Dec 2011
Global cyber security spending will increase over next few years
Over the next three to five years, the global cyber and internet security market will see a 10 percent growth each year, according to a report from PwC titled "Cyber Security M&A: Decoding Deals in the Global Cyber Security Industry." Research said it will be triggered by the growing number of cyber threats and consumers coming online and experiencing breaches.
"Against the backdrop of heightened awareness of hacks and deliberate attacks on institutions by semi-organized groups, the cyber security market is undergoing significant change and attracting investment from sectors that span technology, telecommunications, defense, professional services and financial investors," said Rob Fisher, PwC's U.S. technology leader for transaction services.
The United States market has most of the deals with cyber security companies, and PwC said the country has more awareness and purchases due to changes in technology, greater vulnerabilities and increasing cyber threats.
Internet security and antivirus programs usually see most of their spending by private sector, but the United States. has the unique attribute of seeing its government equal the private sector in the amount it spends on cyber security measures, the report indicates.