Market Trends of Japan Cybersecurity Industry
This section covers the major market trends shaping the Japan Cybersecurity Market according to our research experts:
Data Security Expected to Witness Significant Market Share
- The financial sector has been recognized as a prime adopter of regulatory frameworks to implement adequate information and data security standards. These ensure a reliable provision of products and services, safe processing of data by its systems, and responsible use of personal data.
- Data Security helps reduce risks associated with protecting sensitive data from threats and help organizations maintain compliance. The data security platform provides data risk analytics, data monitoring and protection solutions, and protects the organization's data from database vulnerability, etc.
- An increase in government mandates and norms regarding data security, by using cybersecurity solutions and installing software, such as antivirus and antispyware programs, is anticipated to generate lucrative opportunities for cyber solutions in the coming years.
- Further, compliance is expected to be the key driver of Data Loss Prevention solutions. However, an enterprise's digital transformation strategies, most notably, cloud adoption, Big Data analytics, and IoT enablement, are also driving enterprise security teams in the region to adopt these products in order to identify and classify crucial data throughout the organization, andreallocate data security controls primarily based on the criticality of the information.
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BFSI Expected to Witness Significant Market Share
- The BFSI industry is one of the critical infrastructure segments that face multiple data breaches and cyber-attacks, owing to the massive customer base that the sector serves and the financial information that is at stake.
- Being a highly lucrative operation model that has phenomenal returns along with the added upside of relatively low risk and detectability, cybercriminals are optimizing a plethora of diabolical cyberattacks to immobilize the financial sector. These attacks' threat landscape ranges from Trojans, malware, ATM malware, ransomware, mobile banking malware, data-breaches, institutional invasion, data thefts, fiscal breaches, etc.
- With a strategy to secure their IT processes and systems, secure customer critical data, and comply with government regulations, both public and private banking institutes are focusing on implementing the latest technology to prevent cyber attacks. Besides, with greater customer expectations, rising technological capabilities, and regulatory requirements, banking institutions are pushed to adopt a proactive security approach.
- With the growing technological penetration, coupled with the digital channels, such as internet banking, mobile banking, etc., online banking has become the preferred choice of customers for banking services. There is a significant need for banks to leverage advanced authentication and access control processes.
