There is a convergence of growth in the number of protection vulnerabilities. The rise in hacker capabilities and tools are being enacted in the European Union, and businesses are expanding their investments in cybersecurity significantly. According to Global Market Insights, between 2019 and 2024, the demand for cybersecurity goods and assistance is assumed to grow from $120 billion to more than $300 billion annually. Estimation of Gartner affirms that by 2020 more than 60 percent of companies will have invested in multiple data security tools.
Information security companies, venture capitalists and government, are immediately deploying new, innovative systems to face the cybersecurity challenges of tomorrow. Machine training and blockchain are being harnessed and integrated into various security products, services, and platforms.
Cybersecurity is still a relatively young and fast-developing technology segment where licensing culture has not taken hold yet. Thousands of cybersecurity software vendors exist, once dominated by several enterprise and consumer-focused companies. The industry's market size is expanding, and many aggressive competitors are fast becoming the conventional way of moving innovation onward. There is a potential for established merchants to look to impair these growth drivers through the use of intellectual property.
Security software industry's expected growth has the potential to be significantly disrupted and its innovation impaired by patent lawsuits.
Open Source – Driving Innovation Everywhere
In smart cars, IoT platforms and cybersecurity software projects like Kali Linux, open source is a leading technology. While it has undergone exponential growth, the thriving proliferation of convenient source by banking networks, was not invariably a foregone conclusion.
Promoting Patent Non-Aggression in Cybersecurity
The claims underlying the litigation eventually were discovered to be without merit in the law suits. The development was a wake-up call to several IP-savvy companies as to avoid probable negative impact on the development of Linux- and OSS-based projects. The cybersecurity business has the potential to be a notable driver of innovation and protection for the global economy.
Check out: Top Cyber Security Companies