Internet Security Market with COVID-19 Recovery Analysis 2020 | Rapid Adoption of BYOD Policy to Boost Market Growth
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.
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Technavio has announced its latest market research report titled Global Internet Security Market 2020-2024 (Graphic: Business Wire)
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 employee’s 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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The major Internet security market growth came from the products segment in 2019, and it is expected to witness the fastest growth during the next five years. This is primarily because of the increase in sales of hardware security components.
APAC was the largest Internet security market in 2019, and the region will offer several growth opportunities to market vendors during the forecast