What’s driving anti-virus software vendors?

The anti-virus software package market is expected to grow at a CAGR of close to 10 percent during 2016-2020, according to the global antivirus software package  report from Technavio.

The report said corporate users account for over 60 percent of the market share in 2015, while the balance is used by home users.

“Antivirus software packages are expected to gain maximum traction in APAC during the forecast period as enterprises in this region are highly dependent on the Internet and wireless technologies, which are more vulnerable to data theft and cyber-attacks,” said Ishmeet Kaur, lead analyst at Technavio for enterprise application research.

Growth drivers

# Increase in cybercrime

# Rise in number of online transactions

# Growing dependence on Internet

# Increase in cybercrime

Cybercrimes include malware, hacking and denial of service (DoS) attacks, computer viruses, fraud, identity theft, harassment and threats, and phishing scams.

Since mobile devices are becoming the preferred devices for web browsing, e-mailing, making online purchases, accessing social media, and downloading apps, they have become targets for cyber-attacks.

In 2015, enterprises in the US faced an annual loss of more than $525 million due to cybercrime – mainly due to malicious code and DoS attacks. This is compelling organizations to adopt antivirus software packages.

Online transactions, which are gaining prominence among individual consumers, are the most vulnerable to cyber-attacks. Vendors are providing advanced features in their antivirus software packages to make online transactions secure and prevent fraudulent activities.

“Security threats such as identity theft and phishing are on the rise due to an increase in the number of online transactions. Thus, the need for antivirus software packages is increasing with the rise in online transactions,” says Ishmeet.

The number on internet users exceeded 3 billion in 2015, which was more than six times the number of Internet users in 2000, due to the spread of education and developments in technology ensuring better connectivity.

The increased dependence on web applications has made people vulnerable to identity theft. Cases such as phishing and data theft are increasing, and new forms of attacks are emerging in the security space.

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