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Homeland Security and Emergency Management Market Opportunities and Challenges

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Homeland Security and Emergency Management Market Opportunities and Challenges

November 11
18:30 2019
The homeland security and emergency management market was valued at USD 526.10 Billion in 2017 and is projected to reach USD 742.06 Billion by 2023, at a CAGR of 5.90% during the forecast period.

The homeland security and emergency management market was valued at USD 526.10 Billion in 2017 and is projected to reach USD 742.06 Billion by 2023, at a CAGR of 5.90% during the forecast period.

Increasing adoption of cloud based applications and services

The demand for cloud based security solutions, as the dominant delivery model to meet IT security needs, is rapidly increasing. Many companies, such as IBM, HPE, Symantec, McAfee, and Cisco, provide cyber security solutions on a Software-as-a-Service (SaaS)-based delivery model over the cloud. Such cloud based platforms offer a centralized way to secure the web and mobile applications, and networks across the organization, throughout the development, production, and implementation phases. The SaaS-based approach is simpler and more efficient than the on-premises deployment mode, as it offers greater flexibility and scalability for solution deployments. As more and more applications are being deployed on cloud, there is a shift from traditional on-premises cyber security solutions to cloud based solutions, across large enterprises and SMEs. For organizations having strict budgets on security investments, SaaS-based security solutions are expected to provide an opportunity during the next 5 years.

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Rapidly increasing insider cyber threats

The insider to an organization is the one who can access an organization’s assets, either physically or from a remote place. The insider can be an employee, vendor, business partner, or maintenance contractor who can access physical data, such as hard copies of documents, electronic devices in the organization, and digital assets, including digital media, data in transit, and other information resources. Insider attacks are rapidly increasing and causing data breaches in organizations. According to IBM’s 2016 Cyber Security Intelligence Index, in 2015, insiders were responsible for 60% of the cyber attacks in organizations. Similarly, Ponemon Institute’s survey, Closing Security Gaps to Protect Corporate Data: A Study of US and European Organizations, indicates that 76% of the organizations have witnessed data theft or loss, and the major cause was insider negligence. Insider attackers are stealing or modifying data for personal gain, stealing trade secrets, and selling these to competitors. In addition, cybercriminals are targeting organizations’ databases to access confidential information regarding intellectual property, patents, and copyrights. In healthcare and pharmaceutical organizations, insider attacks are leading to the theft of medical history of patients or IT sabotage. Industries are witnessing a shift from outsider attacks to insider attacks. Due to the likelihood of increasing threats due to insider attacks, there is significant adoption of cutting-edge cyber security solutions, which presents itself as a challenge for the homeland security and emergency management.

Occurrence of unpredictable natural disasters due to ever changing climatic conditions

Natural disasters affect not only individuals and communities, but also economies, governments, and the international system. According to a research study conducted by the Australian Government Civil-Military Centre, the number of disasters has increased in recent decades from about 100 to 150 a year in the early 1980s to an annual average of 392 between 2000 and 2009. Natural disasters are affecting developed as well as emerging countries, resulting in loss of lives and economic damage.

The rise in disasters due to climate change is leading to an increasing need for new and technologically advanced emergency management solutions which could help mitigate losses that arise. Therefore, these increasing numbers of disasters and climatic changes are expected to fuel the implementation of new emergency response solutions. Various companies have started developing products and solutions that warn people about such disasters minutes before they reach those regions. Governments of many countries, such as India, are implementing new emergency management solutions, disaster alert applications, and services for the same. Countries are also re-examining their current emergency-preparedness and planning for the future. Hence, climatic changes and increasing intensity of natural disasters are expected to be the major drivers for the growth of the homeland security and emergency management market, which in turn, is expected to generate a high demand for enhanced technologies and products.

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