Story image

Data center security market taking off, set to reach $15 billion

11 Oct 16

The data center security market is set to reach US$15.49 billion by 2024, with increasing awareness about the need for security and the threat to the stored information amongst several driving factors.

According to new figures from Heka Reports, the data center environment needs to be safeguarded against attacks and manipulation at both physical and logical level subsequently creating a need for a cumulative deployment of security infrastructure.

The analysts say the increasing awareness about the need for security, growing demand from the data center users for an integrated infrastructure, increasing adoption of cloud computing and virtualization, and threat to the stored information due to the rising number of cyber-attacks are expected to propel industry.

With a large number of businesses moving to cloud computing platforms and virtualisation of data storage techniques, the traditional boundaries and perimeters of the networks are being eliminated, the report says.

“The end users need to be upgraded and equipped with new and efficient technology to tackle rising numerous threats and vulnerabilities,” it say.

“These existing conditions are expected to help the industry grow in the coming years.”

According to the report, the demand is also fueled by a large number of small and medium enterprises that are moving their resources to public clouds and the growing amount of data generated online.

“The necessity to protect and safeguard information, which includes critical information such as transaction records, personal information, and intellectual property, will help to upsurge the demand over the forecast period,” the report says.

“The increasing number of attacks not only jeopardises the reputation of companies but also endangers large amount of private and corporate information,” Hexa says.

“The recent rise in the attacks in large corporations to gain access to these repositories of data has brought the security issues in the data centers to the forefront, hence creating awareness amongst the industries as well as the masses.”

The report says the ever-changing nature of technology and the growing sophistication of attacks have led to innovations and resource pooling by vendors in the data center security market, which may pave the way for customisable and configurable solutions.

“As there is a growing need for data center security solutions, the market is expected to foresee adoption in numerous diverse verticals.”

Further key findings from the report suggest:

The gradual shift toward cloud computing as well as cloud storage and networking is bringing out numerous potential vulnerabilities and risks of exposure of important and crucial information.

“This has awakened the industry to strive for better and advanced security measures at various levels in the data center networks,” the report explains.

The growing number of security breaches and the increasing number of attacks on data centers across the world are creating awareness regarding the need of improved security measures, both physical, and logical, the report shows.

Moreover, due to the recent exasperating breaches of the information repositories of large corporations, the necessity of a comprehensive security policy and its execution is in a greater demand.

“With a growing demand from data center users to safeguard their information and the major initiatives taken by the governments as well as industries to regulate data security and privacy, the industry is expected to grow at a rapid rate over the coming years.”

5G will propel RAN market to $160b in near future
5G growth is expected to advance at a faster pace than LTE, particularly within the APAC region.
LG takes home over 140 awards at CES
Including Engadget Best of CES Award in TV category for fifth consecutive year for the LG Signature OLED TV R.
Expert comment: Google fined US$57mil for GDPR breaches
The committee examining the breaches found two types of breaches of the GDPR.
McAfee customer choice for Cloud Access Security
“This is the second time that McAfee has been named... and we believe this demonstrates our ability to stay ahead of the pack.”
The message behind the Apple/Samsung iTunes partnership
Futuresource has released its perspective on what Samsung Smart TV’s new iTunes Movies and TV Show app means for Apple as a company.
Cybercrime could cost companies US$5.2tril over next five years – survey
New research from Accenture found that only 30% of organisations are very confident in internet security.
How healthcare can prepare for My Health Record roll-out - Proofpoint
Australia’s healthcare sector is the continent’s biggest cybercrime target, according to a July report from the Australian Information Commissioner.
Achieving cyber resilience in the telco industry - Accenture
Whether hackers are motivated by greed, or a curiosity to assess a telco’s weaknesses; the interconnected nature of the industry places it in a position of increased threat