By 2017 Cyber Security Market may reach $870 Million

By 2017 Cyber Security Market may reach $870 Million

 

According to Research Firm IDC , Global market for cyber-security solutions may grow to USD 870 million by 2017.

Many Cyber-criminals use thousands of networked computers (botnets) to ‘jam’ a website by directing excessive traffic to it, causing it to crash. Such attacks are often termed as Distributed Denial of Service (DDoS).

According to IDC There was a sharp increase in frequency, volume and orientation of such attacks on websites of leading financial firms and other organisations last year. This is driving the demand for proactive solutions. “The worldwide market for DDoS prevention solutions will grow by a compound annual growth rate (CAGR) of 18.2 percent from 2012 through 2017 and reach USD 870 million,”

Expansion of cloud services and mobile networks could create additional targets for DDoS attacks. While firewalls, intrusion protection and other devices can mitigate low-level attacks, large volumetric attacks can be an issue as these may be unable to separate legitimate from illegitimate traffic.

According to security solutions provider Symantec, in the late 1990s, networks of zombie machines were used to knock websites offline, making them unusable for customers – often preventing e-commerce.

In 2007, Internet in Estonia was shut down due to attacks through botnet. Georgia was severely disabled by botnets in 2008.

Networks of ‘zombie’ computers are flourishing across the world, and India is one of the most-infected countries for cyber attacks.

About 25 percent of bot-infected computers in India were located in tier-II cities, according to last year’s Symantec Internet Security Threat Report XVII.

Symantec said in a statement  that while organisations need to engage with their Internet Service Provider (ISP) and invest in solutions, consumers also need to ensure that their security solution is updated to prevent such attacks.