Spending on Cyber-Security Products/Services to Increase
While U.S. armed forces are fighting a tangible enemy in Afghanistan, there’s another very real war being waged. This war is taking place in cyberspace as government agencies chase criminals who break into networks and steal state secrets. Analysts at Market Research Media predict that federal spending on cyber security technologies will grow rapidly in the next few years.
This prediction is based on statements made by officials such as James G. Stavridis, Navy Adm., NATO’s supreme allied commander for Europe and commander of U.S. European Command who told a congressional committee “among the greatest concerns that impact both military and civilian realms is cyber-security.”
The specific risks to national security are evolving because of the following factors:
- Increasing number and severity of attacks on government networks.
- Expanded interconnectivity and data flows in the government networks.
- Adversaries perceive the information technology sector as an ‘exploitable weakness’.
- New technologies are constantly coming online.
To protect government networks, Senator Thomas. L. Carper says “[f]ederal agencies have spent more on cyber-security than the entire GDP of North Korea. ” And the latest estimates indicate that the federal government will dole out $55 billion between 2010 and 2015 to improve security. Spending will occur in sectors such as software, hardware, and personnel training.
Businesses with expertise in these fields will be gearing up efforts to bid on and win government contracts. As they do so, they may be seeking partners to supply them with necessary equipment and software which may lead to increased B2B marketing.[Source: U.S. Federal Cybersecurity Market Forecast 2010-2015. MarketResearchMedia. 10 Mar. 2010. Web. 30 Mar. 2010]