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IBISWorld: 10 Industries that will Depend on Cybersecurity

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.

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