Internet Security Market with COVID-19 Recovery Analysis 2020 | Rapid Adoption of BYOD Policy to Boost Market Growth | Technavio – Business Wire

LONDON--(BUSINESS WIRE)--The global internet security market size is poised to grow by USD 20.41 billion during 2020-2024, progressing at a CAGR of 10% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

The Internet security market is driven by the rapid adoption of BYOD policy. The perpetual changes in work locations, time zone barriers, as well as the pressing need to access official and confidential data on an employees personal device are resulting in the adoption of bring your own device (BYOD) policy. The increased adoption of the BYOD policy requires a secure network management suite that can be provided by commercial routers. SMEs and individual customers who have a high rate of data usage are focusing more on 3G/4G wireless routers. Thus, the market will experience continuous growth during the forecast period due to the abundant benefits of mobility.

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Growing Need for Secure and Compliant Cloud Solutions will be a Key Market Trend

The growing adoption of Internet of Things (IoT) in sectors, including medical, retail, and finance, which have strict security standards, has triggered the need for secure and compliant cloud solutions. Privacy of information is so vital that nearly half of the digital consumers are cautious about their shared information due to a lack of confidence in online security. Thus, the need for Internet security solutions increases among organizations in order to maintain data confidentiality. Issues such as data breach can be mitigated or prevented altogether with comprehensive and centrally managed security systems. Thus, the growing need for secure and compliant cloud solutions will drive the growth of the market.

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Internet Security Market 2020-2024: Key Highlights

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Internet Security Market with COVID-19 Recovery Analysis 2020 | Rapid Adoption of BYOD Policy to Boost Market Growth | Technavio - Business Wire

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