Market Trends of Proactive Security Industry
This section covers the major market trends shaping the Proactive Security Market according to our research experts:
BFSI Sector Expected to Grow at a Significant Rate
- The BFSI is the fastest-growing vertical in the proactive security market, as BFSI companies have stringent legal and regulatory compliances associated with information security. Small and Medium-sized Enterprises (SMEs) continue to deploy proactive security solutions, as SMEs are increasingly facing malware-based and DNS-based cyber-attacks.
- The number of cyber-attacks against financial services companies, according to data from the Financial Conduct Authority (FCA), increased by more than 80%, in 2018. Considering that cyber-attacks have a direct impact on the churn rate, the financial service providers are expected to strengthen their security solutions.
- Banks and other financial service providers are actively adopting proactive security solutions, to defend their IT assets and data from malware and ransomware. Apart from the regular initiatives like encryption, solutions, such as advanced malware protection, security analytics, vulnerability management, among others, the security providers are well equipped to deal with the advanced vulnerability system in order to safeguard the BFSI industry.
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North America Expected to Account for the Largest Market Share
- The increasing need for organizations to protect their data from advanced cyber-attacks and addressing the stringent government regulations are expected to drive the proactive security market across the region.
- Security vendors across North America Region are offering proactive security solutions via security analytics, AMP, security monitoring, attack simulation, security orchestration, and risk & vulnerability management. As the frequency of security breaches has increased tremendously over the past 5 years, organizations have increased their IT security investments to protect against advanced threats.
- Further, the growing adoption of cloud-based solutions & services among enterprises is expected to provide significant growth opportunities thereby fueling the demand of proactive security solution during the forecast period across the North America.
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