U.S. Government Pours Money Into Cyber Security Technologies and R&D

U.S. Government pours money into cyber security technologies and R&D, creating a new set of 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 Subcommittee on Federal Financial Management, Government Information, Federal Services, and International Security “More Security, Less Waste: What Makes Sense for our Federal Cyber Defense”, Senator John McCain 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% of entire cost of the federal IT investment portfolio.”

With a cumulative market valued at $55 billion (2010 – 2015), the U.S. Federal Cybersecurity market will grow steadily – at about 6.2% CAGR over the next six years, these are forecasts of a new quantitative landmark report “U.S. Federal Cybersecurity Market Forecast 2010-2015“. The report provides:

• Federal cyber security market by technologies and R&D.
• Federal cyber security market by software, hardware, software services, personnel training;
• Cybersecurity market segments by investment type (National Security Systems, Mission Area Support, Infrastructure/Office Automation/Telecommunications, Enterprise Architecture and Planning);
• Six-year detailed forecast for the period 2010-2015;
• Agency-by-agency detailed forecasts for both defense and civilian sectors;