Market Analysis of It Security Industry

Topics: Computer security, Security, Information security Pages: 4 (1341 words) Published: May 2, 2013
Market Analysis of IT Security Services
With many high profile IT security breaches in recent years, it is no surprise that the demand for IT security analysts and IT security engineers has skyrocketed. The cybersecurity market is a booming market that has recently been undergoing a huge shift in demand. The IT industry as a whole has been shifting toward higher demand; however, the cybersecurity niche has seen the largest growth in the past few years. There are a variety of reasons for the shift in demand including advances in hacker technology and an increase in the amount of electronic data stored by companies and individuals, and these reasons and more will be explored in this market analysis. Furthermore, the causes, consequences, and future of this shift in demand will be discussed. Advancements in technology have led to a rise in the mirroring of the real world within cyberspace. For example, cyberspace is being used as a substitute for real world activities such as gathering information, raising funds, communicating, playing games, shopping, etc. With all of these activities being digitized comes more data for hackers to get into, and certainly this data has become more sensitive and personal than ever. There is now a cyber-dimension to military conflicts and without specific measures of cyber security it would be plausible for a hacker to gain access to highly sophisticated international defense installations. (1) Generally speaking, the perpetual advancement of technology is the cause of increasing demand for IT security. In 2012, one of the most recent high profile security breaches occurred when the company Zappos’ servers were hacked. Millions of customers’ names, phone numbers, and the last four digits of their credit cards were accessed by the hacker. But this case is one of the more benign security breaches. (2) Sony’s Playstation network was attacked by hackers in 2011, compromising more than 12.3 million customers’ credit card...

Cited: 1. "U.S. Federal Cybersecurity Market Forecast 2013-2018." Market Research Media. Market Research Media, n.d. Web. 22 Mar. 2013.
2. Smith, Mark W. "Zappos Customers Accounts Breached." USATODAY.COM. USA Today, n.d. Web. 22 Mar. 2013.
3. "Global Cyber Security Market Worth $120.1 Billion by 2017." MarketsandMarkets, n.d. Web. 22 Mar. 2013.
4. "Information Security Analysts, Web Developers, and Computer Network Architects." U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics, n.d. Web. 22 Mar. 2013.
5. "InformationWeek Reports Research: 2012 State of IT Staffing." Information Week: The Business Value of Technology. Information Week, n.d. Web. 22 Mar. 2013.
6. Vijayan, Jaikumar. "Demand for IT Security Experts Outstrips Supply." Computer World. N.p., n.d. Web. 22 Mar. 2013.
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