Global Cyber Security Market is set to grow from its current market value of more than $120 billion to over $300 billion by 2024; according to a new research report by Global Market Insights, Inc. The cyber security market is propelled by the increasing need among enterprises to minimize security risks. As enterprises are rapidly embracing cloud platforms and other networking technologies, they are becoming more vulnerable to various cyber-attacks.
According to market research firm MarketsandMarkets, The video surveillance market is expected to reach US$71.28 billion by 2022, at an estimated CAGR of 16.56% between 2016 and 2022. The major reason for the growth in video surveillance is due to the increasing rate of security threats, criminal activities, thefts, and others. The advancements in video surveillance applications such as cloud services, network cameras, big data analytics, and other technologies have increased the scope of the video surveillance market for wider application in different sectors.