Published on : Apr 26, 2016
ALBANY, New York, April 26, 2016: According to the research study, the U.S. market for federal cyber security is anticipated to register a healthy 8.30% CAGR between 2016 and 2020. The research study has presented the historical information and forecast statistics for the players and decision makers in the market, with the help of infographics, tables, and charts. The emergence of mobile biometrics and increasing interconnectivity of devices thanks to the emergence of IoT are the major opportunities for the growth of players operating in this market.
Cyber security solutions help the federal government in the U.S. in maintaining data confidentiality through several processes such as detecting, monitoring, reporting, and countering cyber threats. The federal government in the U.S. is progressively adopting cloud-based services for video management systems, authentication processes, and storing biometric information. As most of the organizations store their confidential data on the cloud, it is vital to secure data against the risk of unauthorized access.
In addition, the federal government in the U.S. has adopted cloud-based services for collaborative services, security testing, document management, geospatial services, and server optimization, owing to the scalability and flexibility they offer. Thus, the increasing adoption of these services is expected to contribute massively towards the growth of the federal cyber security market in the U.S. through the forecast period.
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The growing network security threats, vendor competition, and implementation of bring-your-own-device (BYOD) policies are some of the key factors augmenting the growth of the market. In addition, the increasing availability of integrated security solutions, growing implementation of managed security services, and emergence of SSO are anticipated to boost the demand for federal cyber security in the next few years. On the other hand, several factors such as the lack of efficient security solutions, rising integration issues among security solutions, and complex IT infrastructure are estimated to hamper the growth of the market in the coming years.
The research study further analyzes the competitive scenario of the U.S. market for federal cyber security and offers a comprehensive vendor analysis. The prominent players operating in the federal cyber security market in the U.S. include General Dynamics, Raytheon, Lockheed Martin, Northrop Grumman, and BAE Systems. The increasing adoption of cyber security solutions by military and defense organizations in the U.S. has attracted several players to the market. Some of the other players mentioned in the study are McAfee, L-3 Communications, Symantec, SAIC, HP, IBM, Booz Allen Hamilton, Microsoft, EMC, and Boeing.
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