By Jami Gibson

Every day, an astounding amount of sensitive data is being shared and stored digitally. We entrust that our banking and credit card accounts, health records, and personal information are being safely kept until the next time they need to be accessed. While this increase in big data and storage requirements makes our lives much easier, it also brings its own set of challenges.

The continued rise of cyber crimes has created much demand for cyber security software. These companies design software to protect data and control access to networks and information. Firms, such as the well-known Symantec, McAfee, and Check Point, create products to protect against espionage, fraud, identity theft, viruses and malware, spam and other cyber crimes. As these offenses become more elaborate and damaging, there will not be a shortage of demand for security products, and the industry will continue to see growth.

Some niches in which the cyber security industry will find opportunities include the retail and cloud security sectors. Data breaches, like the ones that took place at Target and Neiman Marcus, have retailers on their toes to beef up security in order to protect customer information. Also, with more sensitive data moving to “the cloud,” businesses and individuals recognize the need to safeguard information so it can only be accessed by those for whom it was intended. In fact, it is expected that the cloud security software market will exceed $960 million in 2014, up from $240 million in 2010. Other opportunities for companies in this industry include mobile security for smartphones, tablets, and other personal devices, and security software to comply with any new laws and regulations that could take effect.

The cyber security industry has a promising outlook. Is it one of your targets? To keep up with the latest cyber security news and trends, visit the following resources:

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Source: Industry information from First Research