North America is analysed to be the major region with a share of 35.2% in 2020 for the Proactive Security Market.
HYDERABAD, TELANGANA, INDIA, November 29, 2022 /EINPresswire.com/ — Proactive Security Market size is analyzed to grow at a CAGR of 16.1% during the forecast 2021-2026 to reach $80.92 billion by 2026. A proactive security approach is used to prevent major cyber security incidents before they occur. Organizations can effectively maintain and secure their critical information from data breaches by implementing proactive security solutions. Proactive security solutions assist organizations in optimizing their security infrastructure, managing security vulnerabilities easily, and controlling all of their security products from a single platform. The proactive security program, which includes prudent practices such as content monitoring and electronic communication filtering, among others, will aid in ensuring security, confidentiality, and compliance with regulations that mandate the protection of sensitive information. Though governments have imposed lockdowns to contain the virus’s spread, businesses have begun to work from home, which has resulted in an increase in internet use among industries and more data uploaded on the internet, making it more vulnerable to data breaches.
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Key Takeaways
As enterprises undergo digital transformation, stringent regulations such as GDPR, PCI DSS, and others are being imposed to protect IT systems from data breaches. Regulations and compliances require businesses to implement effective security solutions, which supports the growth of proactive security solutions.
Evolving data breaches resulting in high recovery costs, as well as an increasing number of connected devices across enterprises as a result of the BYOD trend and IoT implementation, have encouraged enterprises to shift from reactive to proactive security solutions.
Risk and vulnerability management solution is expected to have the largest market share. A vulnerability assessment is a systematic examination of an information system’s security flaws. It determines whether the system is vulnerable to any known vulnerabilities, assigns severity levels to those vulnerabilities, and recommends remediation or mitigation when necessary.
The growing need for organisations to protect their data from advanced cyber-attacks while also complying with stringent government regulations is expected to drive the proactive security market in North America.
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Segmental Analysis:
Proactive Security Market Segment Analysis – By Component: In 2020, the risk and vulnerability management solution is expected to have the largest market share. Risk and vulnerability management helps companies in determining the current cybersecurity posture of their information systems and infrastructure. Various assessments are performed to provide recommendations to organizations for improving their cybersecurity strategies, allowing them to achieve their security goals, manage vulnerabilities, and mitigate risks. Due to its features that provide direction to assess risks associated with security weaknesses and evolving threats, the risk and vulnerability management segment has seen tremendous growth in recent years. This process gives organisations a better understanding of their assets, security flaws, and overall risks, lowering the likelihood of a cybercriminal breaching their systems and catching the business off guard.
Proactive Security Market Segment Analysis – By Vertical: By Vertical, BFSI industry segment is analysed to grow at highest CAGR of 7.2% during the forecast period 2021-2026. Because of the stringent legal and regulatory compliances associated with information security, the BFSI sector is the fastest-growing vertical in the proactive security market. Small and medium-sized enterprises (SMEs) continue to deploy proactive security solutions as they face more malware- and DNS-based cyber-attacks. According to data from the Financial Conduct Authority (FCA), the number of cyber-attacks on financial services companies increased by more than 80% in 2018. Given that cyber-attacks have a direct impact on churn, financial service providers are expected to improve their security solutions. To protect their IT assets and data from malware and ransomware, banks and other financial service providers are actively implementing proactive security solutions. Aside from regular initiatives such as encryption, solutions such as advanced malware protection, security analytics, and vulnerability management, among others, security providers are well equipped to deal with advanced vulnerability systems in order to protect the BFSI industry.
Proactive Security Market Segment Analysis – Geography: North America is analysed to be the major region with a share of 35.2% in 2020 for the Proactive Security Market. The growing need for organisations to protect their data from advanced cyber-attacks while also complying with stringent government regulations is expected to drive the proactive security market in the region. Security vendors in North America are providing proactive security solutions through security analytics, AMP, security monitoring, attack simulation, security orchestration, and risk and vulnerability management. Organizations have increased their IT security investments to protect against advanced threats as the frequency of security breaches has increased dramatically over the last few years.
Competitive landscape:
The top 5 players in the Proactive Security industry are:
1. IBM
2. Symantec
3. McAfee
4. FireEye
5. Cisco
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