The global cyber security market’s rapid expansion reflects the increasingly central role that the sector’s services play in society today.
According to a report from Statistics MRC, the cyber security market is currently valued at $74.2 billion. This figure is expected to increase at a compound annual growth rate of 14.84 percent between 2014 and 2022, ultimately reaching $224.48 billion by 2022.
The growing frequency and severity of cyber crimes, which can cause damage to both intellectual and financial assets, is the impetus behind growth in the industry. With that growth in mind, investors may be curious about the top cyber security companies operating today. Here’s a brief overview of the 10 top cyber security companies, based on data from Statistics MRC’s report.
1. BAE Systems (LSE:BA)
BAE Systems is a defense, aerospace and security company with a market cap of $13.74 billion. It is divided into five segments, and cyber security falls under its Cyber & Intelligence division. This sector is comprised of the company’s US-based Intelligence & Security business and UK-headquartered Applied Intelligence business. It covers BAE’s cyber, secure government and commercial and financial security activities.
2. The Boeing Company (NYSE:BA)
The Boeing Company is an aerospace company made up of five sectors: Commercial Airplanes, Boeing Military Aircraft (BMA), Network & Space Systems (N&SS), Global Services & Support (GS&S) and Boeing Capital. The company’s Defense, Space & Security business includes BMA, N&SS and GS&S. As a whole, the company has a market cap of $88.99 billion.
3. Booz Allen Hamilton (NYSE:BAH)
With a market cap of $3.92 billion, Booz Allen Hamilton provides management consulting, technology and engineering services to the US government in the defense, intelligence and civil markets. It also provides management and technology consulting services to corporations and groups, both nationally and abroad.
4. Cisco Systems (NASDAQ:CSCO)
Cisco Systems has a market cap of $131.57 billion. It creates IP-based networking products and services for the IT industry. Cisco also provides associated services, including products and services for transporting data, voice and video traffic across intranets, extranets and the internet.
5. Computer Sciences (NYSE:CSC)
Computer Sciences is a provider of IT and professional services and solutions. It operates in three segments: Global Business Services, Global Infrastructure Services and the North American Public Sector. It has a market cap of $8.47 billion.
6. Dell (NASDAQ:DELL)
Dell is a holding company that operates worldwide through its subsidiaries. It has four segments: End-User Computing Group, Enterprise Solutions Group, Dell Services and Dell Software Group.
7. Finmeccanica (BIT:FNC)
Finmeccanica is a multinational industrial group with aerospace, defense and security sectors. With a market cap of $6.48 billion, it operates in the defense and security electronics sector through Selex ES and DRS technologies, and in the defense systems sector through OTOMelara, WASS and MBDA.
8. General Dynamics (NYSE:GD)
General Dynamics is an aerospace and defense company that that works with business aviation, combat vehicles, weapons systems and munitions, communications and information technology systems and solutions, as well as military and commercial shipbuilding. It has a market cap of $44.72 billion
9. Hewlett-Packard (NYSE:HPQ)
Hewlett-Packard has a market cap of $45.1 billion, and is a global provider of products, technologies, software, solutions and services for the IT industry.
10. IBM (NYSE:IBM)
IBM is a technology company that operates in five categories: Global Technology Services, Global Business Services, Software, Systems and Technology Global Financing. It has a market cap of $142.39 billion.
Securities Disclosure: I, Morag McGreevey, hold no direct investment interest in any company mentioned in this article.