TrendU.S. government pours money into cyber security technologies and R&D

The U.S. government pours money into cyber security technologies and R&D, creating new business opportunities for cyber security technology vendors. These are conclusions of a recently updated market study U.S. Federal Cybersecurity Market Forecast 2010-2015.

At the hearing of the Subcommittee on Federal Financial Management, Government Information, Federal Services, and International Security — the title of the hearing was “More Security, Less Waste: What Makes Sense for our Federal Cyber Defense” — Senator John McCain (R-Arizona) said:

The federal government relies heavily on complicated information systems for day-to-day operations. The risks posed to these systems have never been higher. Cybercrime and cyber espionage are on rise. Indeed, nation-states seek to exploit our government networks, to steal sensitive intelligence or intellectual property for military and industrial advantage.

 

Recognizing these threats, the federal government is spending billions of dollars on information technology security each year. OMB estimates 6.2 billion was spent in fiscal year 2008 alone, nearly 10 percent of entire cost of the federal IT investment portfolio.

Market Research Media says that with a cumulative market valued at $55 billion (2010-15), the U.S. federal Cybersecurity Market Forecast 2010-2015 will grow steadily, at about 6.2 percent CAGR over the next six years.

Note that Market Research Media has recently released another report covering one of the most exciting and promising cyber security segments — Deep Packet Inspection (DPI): U.S. Government Market Forecast 2010-2015. The market study says that the DPI technology is in a very favorable position to emerge as a major line of cyber defense for years to come as the only technology that can deliver the goods.