If your company uses the Internet to share information, you may consider amping up your cybersecurity.
According to a recent IBISWorld report, 10 growing industries will increasingly depend on cybersecurity services—ranging from data encryption to protection from malware—within the next five years.
Industries include the following:
- Online Payment Processing Software Developers
- Virtual Data Rooms
- Online Insurance Brokers
- IT Security Consulting
- Operating Systems and Productivity Software Publishing
- Identity Theft Protection Services
- Financial Data Service Providers
- Online mortgage brokers
- Database, Storage and Backup Software Publishing
- Data Processing and Hosting
These industries represent a sizable portion of the national economy, which could become compromised if not protected from Internet threats, the report showed:
These industries form a growing part of the US economy, according to IBISWorld estimates, together totaling an estimated $207.1 billion in revenue in 2013. In fact, if these industries represented a country, it would have the 46th-largest economy in the world, ranking just above Algeria and below Portugal. In the five years to 2018, these industries are forecast to grow at a combined annualized rate of 7.7% to $285.9 billion, compared to projected average annual GDP growth of 3.3%. The 10 industries are also highly profitable, with an average total profit margin of 17.5%.
Find the full article through IBISWorld here.