Proactive Security Monitoring Industry

Proactive Security Market Analysis

The Proactive Security Market is expected to register a CAGR of 14% during the forecast period.

• Evolving data breaches leading to high costs of recovery and increasing number of connected devices across enterprises, owing to BYOD trend and IoT implementation, have encouraged enterprises to shift from reactive to proactive security solutions.
• With enterprises undergoing a digital transformation, stringent regulations, like GDPR, PCI DSS, and others, are being imposed to safeguard IT systems from data breaches. Regulations and compliances mandate enterprises to adopt effective security solutions, and thereby support the growth of proactive security solutions.
• The need for proactive security is, furthermore, expected to be complemented by the increasing number of security breaches, cyber-attacks. In addition to this, increasing penetration of cloud technology will boost the demand for proactive security.

Proactive Security Market Trends

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.

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.

Proactive Security Industry Overview

The proactive security market is highly competitive and consists of prominent players. In terms of market share, some of the major players currently dominate the market. However, with the advancement in the security services, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.

• May 2019 -Cygilantannounced that it has joined the AT&T Cybersecurity Partner Program to help AlienVault USM Anywhere customers with managed security services.As a part of AT&T Cybersecurity’s program, Cygilant assigns dedicated Cybersecurity Advisors who become familiar with a customer’s systems, processes, compliance requirements, and security goals.
• March 2019 - RSAunveiled the newest version of its market-leading SIEM, RSA NetWitnessPlatform, which features machine learning models based on deep endpoint observations to rapidly detect anomalies in user's behavior to uncover evolving threats. This announcement furthers RSA's strategy to help customers take a unified, phased approach to manage digital risk, an ever-increasing challenge faced by organizations with ambitious digital transformation initiatives.

Proactive Security Market Leaders