Network security, data and information security, application security, and mobile and physical security are the fundamental parts of information security products and systems. The information security products and services market is estimated to grow by USD 162.57 billion during 2021-2025, according to Technavio.
Impact of Covid-19 on attacks
The number of advanced and sophisticated threats has risen with the continuing spread of the coronavirus pandemic. Increased dependence on the internet is another factor that is expected to boost the information security products and services market.
To cope with the increasing volume of data and advanced threats during the COVID-19 outbreak, the report shows that companies tend to buy information security products and services. The Information security products and services market covers hardware, software, and services. It is witnessing a CAGR of over 16% during the forecast period.
Compared to 2020, growth for 2021 is likely to increase with the impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior. Cisco Systems, CrowdStrike Holdings, Fortinet, Trend Micro, and Juniper Networks are top players.
Importance of being secure for web hosting providers
The surge of digitalization has pushed not only the information security market but also the web hosting industry. It is needless to say that there is a strong link between the information security market and the web hosting industry. While web hosting providers have to be more strong against advanced and sophisticated threats, they also have to obey GDPR.
For instance, German web hosting company 1&1 was hit with 9.8 million euros in fines over GDPR violations by the Federal Data Protection Commissioner in 2019. During the penetration tests, the violation was caused by the phone authentication mechanism, according to DPA. This lawsuit shows the importance of focusing on not only software and network security but also the whole part of information security.