U.S. Federal Cyber Security Market to Rise at 8.3% CAGR from 2016 to 2020
A new market study, titled “US Federal Cyber Security Market 2016-2020,” has been featured on MarketResearchReports.biz’s online repository of market intelligence. The report presents a detailed analysis of why cyber security solutions are needed for the U.S. federal government to prevent data breaches and data theft that may have implications on national security. The report on the U.S. federal cyber security market covers the market landscape and development trends for the 2016-2020 period. It also includes market size estimates for cyber security solutions based on the revenue generated from sales of cyber security solutions historically and currently. For reading comprehensibility, the observations and analysis of the proceedings of this market are presented both textually and pictorially. Industry experts and government agencies were consulted for data collection and data validation.
The report answers some of the vital questions that are in the purview of the development analysis of the U.S. federal cyber security market. As per the report, this market is poised to expand at a CAGR of 8.3% in the 2016-2020 period. The report looks into vital market indicators such as market drivers, restraints, and growth prospects until the end of the forecast period.
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In proceedings of the U.S. federal government, cyber security solutions are important in maintaining data confidentiality by tracking, detecting, recording, and counteracting cyber attacks. The use of wireless networks for cellular devices of employees of the U.S. federal government has added to the vulnerability to cyber attacks of IT systems. In addition, with the adoption of cloud computing for carrying out federal government proceedings and the emergence of the IoT have added to the data confidentiality concerns about IT systems. Hence, with the expeditious digitalization of federal systems and widespread use of the Internet for everyday activities, the U.S. federal cyber security market will witness positive growth. These factors are collectively driving this market’s progression.
However, factors such as a lack of effective cyber security solutions that can monitor data theft and data malpractices are deterrent to the market’s growth. Nevertheless, the deployment of single sign-on (SSO) solutions will have a positive bearing on this market’s growth. SSO refers to a validation process that allows a user to enter a single name and password to access several applications.
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This report includes a comprehensive analysis of the competitive scenario of the U.S. federal cyber security industry. This includes data about the current top vendors and an analysis of how the competitive hierarchy of the market will change during the 2016-2020 period. A SWOT analysis of the key vendors of cyber security solutions for the U.S. federal government is also presented herein. These players include BAE Systems, Lockheed Martin, Raytheon, General Dynamics, and Northrop Grumman. Some other prominent vendors in this market are Boeing, Computer Sciences, HP, L-3 Communications, Microsoft, Symantec, Booz Allen Hamilton, EMC, IBM, McAfee, and SAIC.
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