Cyber Security Market to Top $170B by 2020

With last week’s news on the Ashley Madison and Established Men hack, it’s not surprising that companies are nervous about the potential dangers of cyber hackers. And it’s expected to lead to a boom in investment as more and more tech companies emerge to meet the demands for cyber security solutions that work to monitor, detect, report and counter cyber threats to maintain the confidentiality of IT systems.

In turn, analysts at expect the global cyber security market to grow from $106.32 in 2015 to $170.21 billion by 2020. Out of all major technologies, antivirus and antimalware solution is expected to acquire the highest market share through 2020.

Meanwhile, firms seeking to counter-attack the hacking have collectively raised more than $1 billion in venture funding so far this year. Researcher CB Insights found that the first half of 2015 saw investors putting $1.2 billion into cybersecurity startups, which is a drastic increase from 2013’s first half, when $771 million was invested in the cybersecurity-related companies.