DUBLIN--(BUSINESS WIRE)--The "Data Exfiltration Market - Growth, Trends, Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global data exfiltration market is expected to register a CAGR of 12% during the forecast period, 2020-2025.
Over the years, As businesses started relying on electronic data and computer networks to conduct their daily operation, the growing pool of financial and personal data are now been stored in the clouds which leave individuals and business organizations exposed to potential liabilities under security breaches. For instance, According to the report by Identity Theft Resource Center In 2019, the number of security breaches were reported 1,473 with 17% increased from 1,257 in 2018 with the business sector accounting 44% with 644 cases.
Also, 2019 accounted for some of the breaches from major players in various industries including Zynga, Facebook, Adobe Creative Cloud, Capital One Financial Corporation and have reported as much as a leak of 218 million data records.
Essentially, The function of computer and network security is protecting the sensitive data inaccessible to unauthorized parties yet data theft continues to affect organizations and the nature of the attacks has evolved over the past three years. For instance, according to recently survey conducted by DNS security showcased that 46 % of the respondents had been victims of data exfiltration with 45 % had been subject to DNS tunneling that is often exfiltrating data through DNS port 53.
Instances such as malicious adversaries remain the primary reason for the growing number of thefts evidently explain the increase in breaches with the public disclosure, also accidental thefts are reported to have increased leveraging importance of security training and thereby accompanying the growth of the market.
Additionally, with business operations leveraging the cloud services expose the businesses with new categories of data exfiltration risks including instances where in-secure access of cloud site features by the administrators, employees would allow hackers to requisition virtual machines, deploy malicious code and thereby initiate outbound transmission of sensitive data.
Futhermore, the compliance of regulation acts such as the General Data Protection Regulation (GDR), Federal Information Security Management Act among others tends businesses to be more concerned about the theft of intellectual property.
For instance, According to Cyber Security Breaches Survey 2019 by the Government of UK states that a total of 11% of businesses and 6% of charities have a specific cybersecurity insurance policy with SMEs accounting for 31% and large enterprises accounting 35%. Also, 49% of the businesses and 32% of charities either have external cybersecurity provider or prefer outsourcing cybersecurity which evidently fosters the growth of the market and adoption of open platforms such as hackerone.
Key Market Trends
Small and Medium-Sized Enterprises to Hold Major Market Share
- Most of the SMEs focus on preventing threats from entering the network than on detecting and stopping the data from being infiltrated and generally opt to practices such as purchasing more security products and investment in employee security training.
- For instance, Security training by Barracuda Network Called Barracuda PhishLine trains employees to understand the latest trend security attacks, subtle clues, prevent email fraud, data loss through continuous stimulation.
- Also, employees at SMEs due to lack of security training are prone to human and procedural failures such as failing to maintain security certifications which evidently makes easier for data exfiltration to occur. For instance, the Investigation report on Equifax by the United States Senate state that Equifax's negligence of cybersecurity and human errors caused it to suffer a devastating data breach.
- Additionally, As organizations around the globe are addressing the scourge of COVID-19 pandemic since the announcement of lockdown, companies have mitigated the spread of the coronavirus by allowing employees to work remotely, but cybercriminals could potentially take advantage of the situation by perpetrating new attacks tied to health care and financial efforts.
- It has been reported by various media outlets that cyber attackers are mimicking communications from major health organizations such as WHO, CDC and government bodies including Medicare, SSA, and IRS and attacking organization by the means of phishing attacks, vishing campaigns to indulge fear and gain access to sensitive data.
Asia-Pacific Estimated to Grow the Fastest Among all Regions
- According to the report, Grand Theft Data published by McAfee suggest that organizations in Asia-pacific reported the average highest number of breaches with more than 10% of Asia-Pacific companies accounting 20 breaches.
- The study also states that data exfiltration due to insider thefts accounted for 50% data loss at the organization in Asia-Pacific compared to less than 40% in the UK and 41% in North America
- The organizations in the region experiencing data loss across a wide range of formats, content, and methods ranging from documents to databases reported 90% of them were the case of exfiltration of data which evidently elevates the growth of the market.
- Also, over recent years, countries in the region have been working on the expansion of broadband infrastructure so as to build a stronger ICT industry by embracing and deploying cloud infrastructure and cloud computing that hold potential liability for data exfiltration thereby fosterng the market growth . For instance, According to the World Bank Study on Interoperability Readiness and Demand Assessment of government agencies showcased that government agencies in countries such as the Philippines prefer to deploy public services through cloud offerings.
The market is highly fragmented due to the presence of players, like McAfee Inc., Juniper Networks Inc., Cisco Sytems Inc, and other giants, which play a vital role in upscaling the security of enterprises. Market orientation leads to a highly competitive environment.
- March 2020 - HP Inc announced the launch three new security solution that provides threat product for remote workforces as a counter measure to support countries across the world experiencing lockdown due to COVID 19 pandemic. The solutions include HP Proactive Security, HP Sure Click Enterprise and HP Pro Security Edition. These solutions allow users to run real-time protection with task-level isolation and non-persistent virtual machines avoiding data breach, data exfiltration.
- February 2020- McAfee announced the launch of global managed detection and response (MDR) platform and its strategic partnership with DXC Technology to leverage the MDR solution so as to proactively detect and resolve security incidents of its customers faster. The platform will provide services including Threat Hunting, Forensics & Investigation and Complete Managed Endpoint Threat Detection and Response.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Porters 5 Force Analysis
4.6 Assessment of COVID-19 Impact on the Industry
5 MARKET SEGMENTATION
5.1 Organization Size
5.1.1 Small and Medium-Sized Enterprises (SMEs)
5.1.2 Large Enterprise
5.2.1 Solutions (Encryption, Antivirus, Firewall, Intrusion Detection System, Data Loss Prevention and Others)
5.2.2 Services (Penetration Testing Services, Support & Maintenance, Integration Services, Support & Maintenance, Consulting Services)
5.3 End-user Vertical
5.3.1 Banking, Financial Services, and Insurance (BFSI)
5.3.2 IT & Telecom
5.3.3 Healthcare & Life Sciences
5.3.4 Government & Defense
5.3.5 Retail & e-Commerce
5.3.7 Other End-user Verticals
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 McAfee LLC
6.1.3 Palo Alto Networks
6.1.4 Google LLC
6.1.6 HP Inc.
6.1.7 Cisco Systems Inc.
6.1.8 GTB Technologies
6.1.9 Check Point Software Technologies
6.1.10 Juniper Networks
6.1.11 Hackerone Inc.
6.1.12 Barracuda Networks
6.1.13 Sophos Group plc
6.2 Investment Analysis
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/om6tc1