Market Trends of Application Gateway Industry
This section covers the major market trends shaping the Application Gateway Market according to our research experts:
Healthcare Segment to Show Significant Growth
- Healthcare has been positively impacted with the digitization and has evolved over the past two decades to help itself become a digitized sector. Healthcare records have been stored digitally and contain private data. The healthcare industry is currently experiencing a transformation in cybersecurity strategy from a compliance and Health Insurance Portability and Accountability Act (HIPAA)-focused approach to one that is the more comprehensive and security-centric approach.
- Singapore’s largest healthcare institution in September 2019, was targeted by state-sponsored hackers, leading to the leakage of personal information for 1.5 million patients, along with prescription details for 160,000 others. Going forward, the governments are expected to impose stricter regulations pertaining to the safety and security of IoT devices,; healthcare providers will have to step up the game on cyber resilience.
- According to Wipro’s State of Cybersecurity Report 2019, 485 significant data breaches reported in 2018 in the healthcare industry, making it one of the most popular targets for breach attempts. Accenture’s 2018 Healthcare Workforce Survey on Cybersecurity found that almost 18% of healthcare employees were willing to sell confidential data to unauthorized parties, for as little as USD 500 to USD 1,000. It has increased the need for internal cycybersecuritys a needed solution.
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North America is Expected to be Largest Market
- IT advances, communications technologies, and the smart energy grid are changing the landscape of all every country’s critical infrastructure and business networks. However, with rapidly evolving technology comes rapidly advancing threats. In 2019, US businesses were victimized 7,073,069 times, while the US Department of Homeland Security informed that its data had been breached.
- Amid the COVID-19 outbreak, U.S. immigration agencies are announcing sweeping changes that impact companies and their foreign national workforce. The U.S. Department of Labor's (DOL) Office of Foreign Labor Certification (OFLC) has mentioned using Foreign Labor Application Gateway (FLAG) System to make decision and issue prevailing wage determination and certifications according to the regulatory requirements.
- According to a recent survey by CIRA (Canadian Internet Registration Authority), 66% of businesses with over 250 employees experienced a cyber attack in the last 12 months. Also, it estimated that over 70% of the companies with less than 100 employees experience data breach activities. This is expected to drive the demand for application gateway solutions by small scale enterprises in the country.
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