ReportLinker has released a report that predicts the global cybersecurity market to climb in value from $74.2 billion in 2014 to $224.48 billion in 2022 at a compound annual growth rate of 14.84 percent.
The company said Monday the growth of the market is due to the growing threat of cyber crimes and their impact on both financial assets and intellectual property.
According to the report, the government will boost spending on cybersecurity research and technology in the Internet of Things and anti-malware or anti-virus capabilities, which could facilitate contracting opportunities for small businesses.
The report listed the following companies as key players in the global cybersecurity market:
- BAE Systems
- Booz Allen Hamilton
- Computer Sciences Corp.
- General Dynamics