Homeland Security Market: Cyber Security Figures as a Priority in Recent Times

Homeland security market is driven by government concerns to prevent cross border insurgency, Homeland security market is growing due to drug trafficking, Homeland security market is dominated by North America

The global homeland security market is mainly driven by the efforts taken by governments across nations to restrict the increasing terrorist threats and cross-border insurgency. Project Cytoon undertaken by South Africa, the Sisfron Program undertaken by Brazil, and the TECS Mod Program undertaken by the U.S. are some of the government initiatives aimed at enhancing homeland security. The global homeland security market was worth US$245.72 bn in 2013. Expanding at a CAGR of 5.6% during the period between 2014 and 2020, the overall market is expected to be valued at US$364.44 bn by 2020.

Homeland Security Market Description:-

Governments Looking at Managed Security Services to Address Looming Threat of Cyber Attacks

Increasing risk of cyber-attacks on government websites has made cyber security the dominant segment of the global homeland security market. Cyber security accounted for a 39.31% market share in 2013 and is projected to expand at a CAGR of 5.8% during the period from 2014 to 2020. The recent cyber-attack on the U.S. government’s Office of Personnel Management led to a security breach, with hackers accessing confidential data. An audit released last month showed that the internal websites used by the U.S. Department of Homeland Security (DHS) are vulnerable to cyber-attacks. The audit further mentioned that the department needs to establish a cyber-training program for analysts and investigators.

Taking its cue, the U.S. Department of Homeland Security has chosen the month of October as the National Cyber Security Awareness Month. With the federal government’s push to protect agency data from cyber threats, the DHS is looking at managed security services. The agency announced in September 2015 that it had chosen Massachusetts-based Raytheon Co. to help manage potential cyber threats to government websites and plug the loopholes. The contract, worth US$1 bn, points out that the federal government can no longer support its cyber security infrastructure without the help of private entities.

U.S. DHS Awards Contracts to Private Companies for Cyber Security

The U.S. federal government’s inability to keep up with the ever-increasing cyber threats can be attributed to the lack of cyber security professionals in the DHS office. A recent Government Accountability Office report revealed that one in five positions in the DHS Office of Cybersecurity and Communications remains vacant. This can be traced to long security clearance timelines and lower salary as compared to the private sector.

Insights of Homeland Security: http://bit.ly/1Tf6ERm

Apart from Raytheon Co., the DHS has also awarded contract work for cyber security to Technica, Northrop Grumman, HP, and Knowledge Consulting Group. These companies will provide automated tools and commercially developed sensors to scan agency networks for vulnerabilities. Government agencies are usually apprehensive while leaning on private companies to address their cyber security needs. However, the DHS has shown the path that other departments in the U.S. federal government are expected to follow soon. This will open new opportunities for the homeland security market, especially in North America.

Contact Details

Company Name: Transparency Market Research
Issued By: Transparency Market Research
Phone: +1-518-618-1030
Address: 90 State Street, Suite 700 Albany, NY 12207
City: Albany
State: New York
Zip: 12207
Country: United States
Website: Visit the website

Keywords : Homeland Security Market, Global Homeland Security Market, Homeland Security Market Size, Homeland Security Market Share, Homeland Security Market Industry, Homeland Security Market Forecast,

by Transparency Market Research (few years ago!)

Latest Press Releases

The Mad Hatter Now Offer a Full Line of Hearth Products and Full Line of Grills

Diabetes Insulin Delivery Pens Market Research Report 2018

Dr Kapadia Provides Tips to Patients Interested in Hair Transplant Procedures

love vashikaran specialist

Solar Blanket Sales Market Report 2018

Spring Bottled Water Market Insights, Forecast to 2025

Biochemical Incubator Sales Market Report 2018

Quinine Sulphate Sales Market Report 2018

Automotive Chassisc System Market Insights, Forecast to 2025

2,6-Dicarboxypyridine market size in key regions like North America, Europe, Asia Pacific an..

Remove this press release ?

Due to extra work required to remove the press-releases we have started charging $1.99 for press release removal.

Your press release will be removed in 24 hours, once the payment has been received.

Search Press Release
e.g. Business, Computer, etc.