Governments face next-generation cyber threats: Report
Many governments and militaries worldwide remain “behind the eight ball,” when it comes to coping with geopolitical cyber threats from hackers in North Korea, China, Russia and Iran, says a Tuesday report by FBR Capital Markets.
FBR predicts that government outlays for next-generation cybersecurity solutions will surge in 2015 as security honchos from the U.S. to Asia embrace the inevitability of being targeted by rogue states, hacktivists and sophisticated criminals. The investment house also expects the big ramp up in global cybersecurity spending to continue in coming years as “cyber warfare” heats up, adding to the robust growth prospects at next-generation security software vendors.
“Cybersecurity software companies continue to be very well positioned for strong growth in 2015 and beyond, in our view, with many facets of the space showing massive growth rates (30% to 40%-plus year over year),” FBR said in its report.
FBR says soaring government demand for advanced anti-hacker solutions will be apparent when clients attend the cybersecurity industry’s RSA Conference in San Francisco next week.