The report also highlighted that B2C, B2B, and B2G sectors are investing in security testing, Mobile Device Management, and VAT to safeguard their financial statements. Cybersecurity is a critical business priority in today’s digital world.
Technavio has announced its latest market research report titled Global Data Security Market 2023-2027. As per the report with the AI impact on market trends- The global data security market size is estimated to grow by USD 3.86 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of over 14.8% during the forecast period.
Stringent regulations regarding data protection are driving market growth, with a trend towards Increasing focus toward data security automation. However, system integration and interoperability issues poses a challenge. Key market players include Amazon.com Inc., Broadcom Inc., Centrify Corp., Cisco Systems Inc., Cloudera Inc., Fortinet Inc., Hewlett Packard Enterprise Co., Imperva Inc., International Business Machines Corp., McAfee LLC, Microsoft Corp., NetApp Inc., Oracle Corp., Palo Alto Networks Inc., Proofpoint Inc., Sirius Computer Solutions Inc., Sophos Ltd., Thales Group, Varonis Systems Inc., and Zscaler Inc..
Data automation is revolutionizing the tech sector, including data security. By automating these tasks, organizations can improve efficiency, reduce workload, and focus on the business impact of data security solutions. The adoption of data security automation is expected to drive the growth of the global data security market.
The Data Security Market is experiencing significant growth due to the increasing volumes of digital data and the expanding use of information applications. Cybercrimes, including money theft, lost property, and intellectual property theft, pose a major threat to businesses and individuals. Digitalization trends, such as the proliferation of digital devices, the Internet of Things (IoT), and cloud computing, add to the complexity of data security. Data auditing, real-time alerts, risk assessment, and minimization are essential practices to mitigate data breaches.
CSIS reports reveal an exponential trend in cyberattacks, with viruses, phishing attempts, and endpoint protection being key concerns. IoT devices, SPDI rules, mobile technology, social media, and Simple Storage Service are also areas of focus. Industry associations, national statistical offices, security organizations, and government entities are collaborating to enhance cybersecurity.
