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Cybersecurity Industry Outlook: 2017 to 2021

Oct 20, 20161 min

Key economic indicators for the cybersecurity industry over the next five years.

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In 2004, the global cybersecurity market was worth $3.5 billion — and by 2017 it will be worth at least 35X that amount, according to numerous estimates from market researchers and analysts.

Cybersecurity is one of the fastest growing and largest technology sectors. Four predictions from Cybersecurity Ventures frame the cybersecurity economy over the next five years, from 2017 to 2021. (Disclaimer: Steve Morgan is founder and CEO of Cybersecurity Ventures.)

  • Global spending on cybersecurity products and services to combat cybercrime will exceed $1 trillion cumulatively over the next five years, from 2017 to 2021.
  • Cybercrime damages will cost the world $6 trillion annually by 2021, up from $3 trillion in 2015.

Steve Morgan is the founder and CEO at Cybersecurity Ventures and editor in chief of the Cybersecurity Market Report. The Cybersecurity Market Report is published quarterly and covers the business of cybersecurity, including global market sizing and industry forecasts from consolidated research by IT analyst firms, emerging trends, employment, the federal sector, hot companies to watch, notable M&A, investment and IPO activity, and more.