Data Security Market Cloud Data Security Issues Experienced by Organizations in 2021
DUBLIN, Jan. 27, 2024 (GLOBE NEWSWIRE) — “Data Security Market Size and Share Analysis – Growth Trends and Forecasts (2023-2028)” report has been added. ResearchAndMarkets.com Recruitment.
The data security market size is expected to grow from USD 24.31 billion in 2023 to USD 57.49 billion by 2028, at a CAGR of 18.78% during the forecast period (2023-2028).
The amount of data is increasing due to large amounts of data and information applications such as commercial data storage and mining. These applications are dynamic and multifunctional. Data security is critical to maintaining data authenticity and integrity and preventing attacks. Additionally, hackers have introduced malware such as Odinaff, Danabot, Camubot, and Backswap, which increases the vulnerability of data to security threats and forces businesses and customers to seek more effective security solutions. became.
Main highlights
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According to the Center for Strategic and International Studies (CSIS) and McAfee, cybercrime costs the world the equivalent of approximately $600 billion annually, or 0.8% of global GDP, including data corruption and These include vandalism, theft of money, loss of property, and theft of intellectual property. other fields. These factors are expected to accelerate the development of security and vulnerability management software and services.
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Rising digitization trends and digital data generation are increasing the needs of the data security market. Digital data creation has expanded dramatically over the past few decades, and this trend is expected to continue. The increasing daily use of digital devices such as smartphones and laptops is one of the main factors driving the increase in digital data generation. Additionally, the growing popularity of the Internet of Things (IoT) and the data generated by a large number of IoT devices has expanded the data security market.
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Regardless of the sector or industry in which an organization operates, strict laws such as GDPR, PCI DSS, and ISO are imposed on businesses undergoing digital transformation to protect their systems from data breaches. Regulations and compliance require businesses to implement efficient security solutions to support the growing data security market.
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Deploying data security technologies such as data auditing, data real-time alerts, data risk assessment, data minimization, and obsolete data deletion provides organizations with protective security measures to prevent breaches, reduce risk, and prevent data loss. helps maintain.
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Finding and analyzing sensitive data among structured and unstructured data collected from various sources has become a major concern and is expected to hinder the market growth. Additionally, implementing next-generation firewall (NGFW) and advanced threat protection (ATP) technologies will require increased cybersecurity budgets for young startups. Small and medium-sized enterprises in emerging countries need help implementing data security solutions due to critical concerns such as lack of capital and investment restrictions.
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With many employees working from home and connecting to more critical corporate data, governments, public organizations, and private companies are increasingly vulnerable to phishing attacks during the COVID-19 pandemic. We have started many initiatives to overcome it. Additionally, the use of third-party applications has increased significantly during the pandemic. As a result of all these factors, IT infrastructures are more susceptible to viruses and cyber-attacks. Businesses are under pressure to strengthen their security measures, which is benefiting the global data security market. For example, spear-phishing email attacks related to COVID-19 have increased by 67% since December of last year.
Some of the companies mentioned in this report include:
For more information about this report, please visit https://www.researchandmarkets.com/r/ooub7.
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