Why cyber security startups have better future prospects

  In 2013, hackers attacked the Adobe’s website leaving an effect on around 152 million users. The next year, figures remained close enough when the shopping website eBay got hacked, leaving an impact on 145 million users of the online shopping portal. 

Maybe the figures of these ‘big boys’ have made the around 63% of surveyed small business houses in the US, to have either a cyber-security software or any other hacking defense to protect themselves from cyber-attacks. 

Worldwide cyber security market 

Initially, I didn’t focus much on same, but yes came across this report, which indeed provides the market growth rate. The report shares that by the year 2021, Cyber-Security market is expected to reach the mark of 202.36 Billion from the 122.45 billion in 2016. 

Startups that recently made big 

The aforementioned statistics, the point at the rising need of cyber security and with the technological advancements expected in future. Let us take the example of some of the startups who have made big in the cyber security market: 

The 2012 startup, Shape Security is today leading the mobile security segment. As the company’s website claims, it is the ‘world’s first distributed data protection platform and has prevented over $100 Million fraud losses for its numerous clients by the end of 2015. 

Another most powerful startup that we are talking about is the Martini brothers’ iboss Cyber Security. It came with signature data anomaly detection and has created a unique program that avails you little extra protection for any specific data, in comparison the protection given to entire network. However, the startup in no longer a startup as recently Goldman Sachs purchased the company. Now with this, you can presume the growth of the ‘Startup’. 

These startups made their way to the big because they focused on modifying/changing the old approaches and methods in order to fit the need of time. 

The cyber security trends in 2017 for reference
 

While for the year 2016, the major cyber security concerns were foreign cyber-attacks, Computer viruses, and internal and external threats. The year 2017 primarily is looking for solutions that can  

Prevent: 

Threat from IoT 

Greater Data protection

 Cloud-based security solutions on preventing threats from insiders 

Consolidation of suppliers, etc. 

Hit the iron when it’s hot 

A report shares that the venture capital investment in the cyber security startups touched the mark of $228 million in 2015, taking the rise of 78%. It is also expected that the capital investment in cyber security startups will touch the mark of $ 400 million by the end of 2016. 

Last year one of biggest funding figures came into light when Maryland-based Tenable Security which has specialization in marking vulnerabilities in company networks, raised $250 Million (reports financial times). 

In the same report, it is shared that the United States alone keeps half of the IoT security startups under its hood, while the one-third find their home in Israel.
 

Conclusion 

The current scenario and the one expected directly indicates at the wide scope for the startups. The only need is to come with more innovative and secure ways of preventing and not just defending. The ‘Big Boys’ and the ‘millennials’, both have no inclination in having a security system promising only defense, but they need to have a software, which can give them overall prevention with added perks.