The global Cybersecurity government market is projected to reach at an estimated CAGR of 14% during the forecast period i.e. 2018-2023.The cyber security government market will be providing services to all the departments which basically handles very sensitive data. The major sectors which require cyber security services would be Defense, Banks which are run by the government and Law enforcement agencies.
What are the challenges of Cyber Security Market in Government?
The data which the government handles is far more sensitive and vulnerable when compared it with other data’s of a private company. The main challenge here would be other countries paying money to their trained hackers to gain data of a particular country. The main reason for the downfall of cybersecurity in the government sector would be due to the budget constrains as well as poor IT infrastructure. This make their systems vulnerable and easier to be hacked. The other reason is that most of the companies are trying to sell commercialized to the government agency. These companies are not building security application based on their need, government agency require a safe platform where they can safely share the information.
What are the reasons for a Cyber Security in Government?
In this era of digitalization, even government is trying to move its operations or mode of working. This means government will be handling, working and storing those data over systems or some cloud based technologies. This can be a major threat if the security standards are not properly met and it is the most affected sector when compared it with private organization. The loss of these data will a cause of damage to the society. For example cyber criminals stole somewhere around 20,000 of patient record from Henry Ford Health system. The data consisted of value inputs such name , address , bank details etc. In order to stop these cyber breach or attack government organization is showing keen interest in setting up high level security protection. They are trying to adopt and work on solutions like Identity Access Management and Unified Threat Management.
Market Research and Market Trends of Cyber Security in Government:
- The Modernizing Government Technology Act is said to provide additional funds to the government agencies in order to improve their legacy system, but the government was asked not to completely rely on the funds but also find ways to operate.
- US government has spent around $1.7 billion dollars on Department of Homeland security for the financial year 2019 to develop an enhanced cyber security system
- The government of India is trying spread awareness on cyber security by conducting seminars in schools and workshops in colleges and companies.
Who are the Major Players Cyber Insurance Market?
The companies referred in the market research report are XL Catlin Group Limited ,American International Group, Axis Holding capitals , GSK Insurance and 10 other companies.
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1. Cybersecurity Market Overview
2. Executive Summary
3. Cybersecurity Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis
3.2.1. Product Benchmarking
3.2.2. End User Profiling
3.2.3. Patent Analysis
3.2.4. Top 5 Financial Analysis
4. Cybersecurity Market Forces
4.1. Market Drivers
4.2. Market Constraints
4.3. Market Challenges
4.4. Attractiveness of the Industry
4.4.1. Power of Suppliers
4.4.2. Power of Customers
4.4.3. Threat of New entrants
4.4.4. Threat of Substitution
4.4.5. Degree of Competition
5. Cybersecurity Market – Strategic Analysis
5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Opportunities Analysis
5.4. Product/Market Life Cycle Analysis
5.5. Suppliers and Distributors
6. Cybersecurity market in Government– By Type
6.2. State Government
6.3. Local Government
7. Cyber Security market in Government- By Solutions
7.1. Identity Access Management
7.2. Risk and compliance Management
7.2.1. Enterprise Risk Management
7.2.2. Regulatory Compliance Management
7.2.3. Internal Controls Management
7.4. Unified Threat Management
7.5. Intrusion Detection System/Intrusion Prevention System
8. Cybersecurity market in Government – By End user (Department)
8.1. Department of Commerce
8.1.1. Bureau of Economic Analysis
8.1.2. Bureau of Industry and Security
8.1.3. Economic Development Administration
8.1.4. National Institute of Standards and Technology
8.1.5. National Technical Information Service
8.2. Department of Defense
8.2.1. Defense Advanced Research Projects and Agency
8.2.2. Defense Criminal Investigate Service
8.2.3. Defense Finance and Accounting Services
8.2.4. Defense Information System Agency
8.2.5. Defense Intelligence Agency
8.3. Department of Energy
8.3.1. Federal Energy Regulatory Commission
8.3.2. National Nuclear Security Administration
8.3.3. National Renewable Energy Laboratory
8.3.4. Office of Nuclear Energy
8.3.5. Office of Environment, Health , Safety and Security
8.4. Department of Health and Human Services
8.4.1. Agency for Healthcare Research and Quality
8.4.2. Agency for Toxic Substance and Disease Registry
8.4.3. Center for Medicare and Medical Services
8.4.4. Food and Drug Administration
8.4.5. Indian Health Service
8.5. Department of Homeland security
8.5.1. Directorate of Science and Technology
8.5.2. Federal Law Enforcement Training Center
8.6. Department of Justice
8.6.1. Federal Bureau of Investigation
8.6.2. Foreign Claims Settlement Commission
8.6.3. National Security Division
8.7. Department of Treasury
8.7.1. Bureau of Fiscal Services
8.7.2. Federal Financing Bank
8.7.3. Financial Crimes Enforcement Network
8.7.4. Internal Revenue Services
9. Cyber Security Market – By Geography
9.1. North America
9.1.4. Rest of North American countries
9.3. Asia Pacific
9.4. Latin America and African
9.4.1. South Africa
10. Company Profiles
10.1. XL Catlin Group Limited
10.2. American International Group
10.3. Axis Holding capitals
10.4. Company 4
10.5. Company 5
10.6. Company 6
10.7. Company 7
10.8. Company 8
10.9. Company 9
*More than 10 Companies are profiled in this Research Report*
"*Financials would be provided on a best efforts basis for private companies
11.3. Research Methodology
11.5. Compilation Experts Insights