Information Security Analysts : Occupational Outlook Handbook: : U S Bureau of Labor Statistics

To analyze the subsegments of the market with respect to individual growth trends, prospects, and contributions to the overall market. In February 2022, IBM launched a product named IBM Security X-Force Threat Intelligence Index.

These cyberattacks can affect the data transmission across the networks, cause operational disruptions, and result in money extortion/ransomware. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. In terms of infrastructure protection, the cloud security segment held the highest revenue share of more than 25% in 2021. Critical infrastructure programs introduced by governments worldwide are expected to drive the growth of this segment. The market research report highlights leading regions across the world to offer a better understanding to the user.

Information Security Analysts

More of these analysts are likely to be needed to safeguard patients’ personal information and data. Cyberattacks have grown in frequency, and these analysts will be needed to create innovative solutions to prevent hackers from stealing critical information or creating problems for computer networks. Information security analysts must anticipate information security risks and implement new ways to protect their organizations’ computer systems and networks.

Still, there aren’t enough qualified cyber security specialists who can recognize and counteract such sophisticated and zero-day assaults. Organizations are vulnerable to security threats as a result of this scarcity of competent security professionals. Network flaws are the focus of cyber attacks, which leverage weaknesses to gain access to corporate networks. Attackers utilize undetectable tactics and strategies to get into an organization’s corporate network. Due to a lack of knowledge about sophisticated cyber threats, organizations underinvest in their security infrastructures, which causes enormous losses and can hinder the cybersecurity market growth. Additionally, businesses with urgent cyber security needs have seen a severe lack of competent specialists within their firms, which increases their susceptibility to attacks. The early availability and adoption of new technologies have contributed to the growth of the North American market over the past years.

Projected Growth Rate

Numerous small and medium businesses across the globe encountered permanent and temporary shutdowns. As per a survey conducted by the NBER in 2020, 43% of respondents in the U.S. reported the temporary shutdown of small and medium businesses. The IDS/IPS segment is expected to exhibit the highest growth in the forecast period due to the increasing need for real-time monitoring and identifying threats across the networks. An organization’s network has numerous access points to both private and public networks.

For example, they may lead a team of other information security analysts or become an expert in a particular area of information security. Information security analysts typically need a bachelor’s degree in computer and information technology or a related field, such as engineering or math.

How to Become an Information Security Analyst

It helps clients understand emerging threats and quickly make informed security decisions combined with IBM security operations telemetry, research, incident response investigations, commercial data, and open sources. Growing proliferation of smartphones and tablets coupled with the preference to use a single device is expected to fuel market growth. For that reason, adequate cybersecurity measures are becoming a necessary venture for companies of all shapes and sizes. Increasing cyberattacks in the country have propelled China to strengthen its defensive capabilities. However, the government is also a major source of origin for cyberattacks in other parts of the world. For instance, Microsoft blamed a Chinese cyber-espionage group for attacks on its mail server software in March 2021.

Additionally, cloud deployment enables remote access to solutions across various devices, which is further expected to propel the segment growth. The cloud security segment is expected to exhibit the highest growth in the forecast period owing to the increasing adoption of cloud-based solutions by enterprises due to its cost-effectiveness and the convenience of working with cloud-based platforms. The growing risk of unauthorized access and the increasing number of threat actors across cloud layers coupled with the increasing malware infiltrations is expected to compel enterprises to adopt cloud security solutions. Further, with growing web traffic to access media content, the need for filtering this traffic is expected to drive the segment growth. The infrastructure protection segment accounted for the largest revenue share in 2021, contributing more than 25% of the overall revenue. The high market share is attributed to the rising number of data center constructions and the adoption of connected and IoT devices. Further, different programs introduced by governments across some regions, such as the Critical Infrastructure Protection Program in the U.S. and the European Programme for Critical Infrastructure Protection , are expected to contribute to market growth.

Information & Technology Clients

Particularly in regions like China, Japan, and Indonesia, local companies and startups have emerged as significant participants, battling with US multinational corporations. The adoption of cyber security solutions has been motivated by the fact that the SMEs in the area are experiencing cyberattacks, including 74% of SMEs in India and New Zealand, 33% in Indonesia and South Korea, and 37% in Japan. To safeguard their extremely sensitive data, organizations are increasingly using cybersecurity solutions. Additionally, the cyber security industry is seeing rapid development opportunities in the area because of efficient government laws and technology improvements. Thus, the Asia Pacific region is supposed to grow at the highest CAGR in the forecasted period. Threats cannot effectively target today’s virtual company because there are too many access points.

Additionally, lack of security policies and skills of employees are some of the critical factors responsible for increasing cyber-attack across SMEs. As such, the growing need to cut operational and data breach costs and secure IT assets is anticipated to drive the adoption in SMEs.

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The increasing adoption of end-point security hardware, software, and access management tools among various industries such as IT & telecom, financial institutions, and others is expected to favor the segment’s growth. The professional service segment dominated the global cyber security market in 2021 with a revenue share of over 72%. After the complete market engineering process , extensive primary research was conducted to gather information, and verify and validate the critical numbers arrived at. Large enterprises held a high market share of more than 60% in 2021 owing to increased spending on IT security solutions to secure a large number of endpoint devices and IT infrastructure equipment. The cybersecurity market is segmented by product type (solutions and services ), deployment (on-premise and cloud), end-user industry , and geography. One of the major causes of growing cyberattacks is the lack of skilled cybersecurity personnel in each industry.

With this acquisition, IBM Corporation developed and catered to security solutions across a wide range of industries worldwide. Another trend that aids the market’s growth is the increased adoption of cloud computing. Players in the market, including Cisco Systems, IBM Corporation, and others, focus on developing advanced cybersecurity solutions based on cloud computing. These cloud computing services are designed onthe Analytics as a Service platform, assisting users in identifying and mitigating threats rapidly. With the rising growth in the IoT market, IoT solutions are gaining popularity across various information security applications. Consequently, the adoption of advanced technologies in internet security is considered one of the rapidly emerging market trends.

The IDS/IPS segment is expected to register the highest CAGR of more than 10% in the forecast period. The increasing need for real-time threat detection across unknown networks is anticipated to fuel the market growth. Cybersecurity is the process that provides and maintains confidentiality, integrity, availability, and privacy. The market for Cybersecurity includes revenues generated by the two key products, namely Cyber Solution and Security Services. As businesses focus on enhancing cybersecurity, they will need information security analysts to secure new technologies from outside threats or hacks. A shift to remote work and the rise of e-commerce have increased the need for enhanced security, contributing to the projected employment growth of these workers over the decade. The global cybersecurity market size is expected to grow from an estimated value of USD 173.5 billion in 2022 to 266.2 billion USD by 2027, at a Compound Annual Growth Rate of 8.9% from 2022 to 2027.