Jay Clemens
Allied Market Research has released a report that predicts the global internet security market will reach $42.8 billion by 2020.
The report attributes the market’s growth to cloud-based business operations, growing online financial transactions and rise in Internet usage, among other factors.
Allied Market Research says the market faces the challenge of pirated software and lack of awareness among consumers.
The market will increase due to the rise in e-commerce, e-governance and adoption of security services, the market research firm says.
Allied Market Research cited IBM, Intel, Symantec and HP as among the market players that adopt product launch, product enhancement and acquisition strategies in this market.
