According to an analysis by Triton Market Research, the cyber security market in North America is likely to augment at a CAGR of 9.77% over the forthcoming period between 2019 and 2028.
The countries evaluated in the North American cyber security market are:
• Canada
• The United States
As per the cyber security standard, the US government has mandated the adoption of version 5 of the NERC CIP (North American Electric Reliability Corporation Critical Infrastructure Protection) in the utility industry for securing data. The United States is witnessing a rising number of connected devices, which is consequently creating potential vulnerabilities for cyber attackers. Besides, cybercriminals are increasingly targeting IoT (Internet of Things), thus exposing the much vulnerable platforms. IoT devices are attacked by Distributed Denial of Service (DDoS) and turn them into IoT botnets. For example, the Mirai botnet infected several IoT devices and thereby making them capable of a large-scale network attack. Also, the US has been reporting an alarming number of data breaches and exposed records in recent times. These factors are likely to push the demand for cyber security in the country in the coming years.
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As per a recent study, Canada is among the top three countries with the most cyber incidents in the world. Cybercrime is increasingly gaining traction with a high impact at an alarming rate in the country. It is reported that 1 in 5 companies in Canada was attacked by cybercriminals in the year 2017. All these factors are indicating the growth of the studied market in Canada.
CyberArk Software Ltd is a leading company in the IT security sector, helping in protecting data, assets and infrastructure across the corporations. It is involved in the development and marketing of software-based security solutions used to prevent cyber attacks. It serves financial services, insurance, manufacturing, healthcare, transportation, technology, retail and telecommunications industries. The company is headquartered in Massachusetts, the US.
Few companies in the cyber security market are Trend Micro Incorporated, Dell Technologies Inc, Imperva, Cyber Ark Software Ltd, FireEye Inc, AVG Technologies (Acquired By Avast Software sro), Cisco Systems Inc, International Business Machines Corporation, Rapid7, Check Point Software Technologies Ltd, Intel Security (Intel Corporation), Fortinet Inc, Proofpoint Inc, Palo Alto Networks Inc and Symantec Corporation (Broadcom Inc).