The digitization of the business landscape has urged organizations to move towards cloud computing platform. Migrating to cloud-based storage brings on the extra responsibility of protecting and securing the data. With businesses connected globally and sensitive corporate data being shared across different organizational units it becomes important for the businesses to secure the data regardless of the fact that where it has been stored. Technological advancements and increasing cybercrime have reshaped the global threat landscape. Data breaches and cybercrime are one of the major risks associated with a business organization. Owing to these threats organizations have started focusing on improving their security systems to avoid threats of cyber-attacks. The organizations are in search of a robust and holistic framework to adapt to the rapidly evolving cyber threat landscape; this contributes towards the growth of the cloud security market.
The cloud-based database security market is expected to register a CAGR of 19.5% over the forecast period 2019-2024. The market growth can be segmented based on type, industry, and region:
Based on Type:
This segmentation is based on the type of cloud i.e. public cloud, private cloud, and hybrid cloud, the organizations have adopted for data security and safety improvement.
Based on Industry:
This market segmentation is based on the type of industry. The industries which are using cloud-based solutions in their daily operations and maintaining data security. The organizations from these industries are demanding Cloud-based Database Security. On the basis of industries, Cloud-based Database Security market is segmented into retail, BFSI, government, IT & Telecommunication, and others.
Based on Region:
The cloud-based database security market is segmented on the basis of region into North America, Latin America, Western Europe, Eastern Europe, South East Asia and Others of Asia Pacific, Japan, China, and Middle East & Africa.
The huge volume of data being generated with businesses being connected all around the globe, the location of the data stored in the cloud is not known to the organizations with minimum control over the data maximizes the risk of data getting into wrong hands. Recent studies have revealed 2 major market trends in the coming years:
- With increasing patient records and frequent cyber attacks involving sensitive patient information, there is a greater need for attention to security, compliance and data privacy in the healthcare industry. As per the recent news, increasing cloud computing technology has led Healthcare Organizations to use Google Cloud expertise for computing and data storage to meet their business needs.
- The growing use of the internet and shift to digitization across each and every functional unit of an organization is driving the adoption of cloud services in Asia-Pacific. The ineffective cyber laws and lack of cyber-security awareness organizations are more likely to be targeted more by hackers as compared to other regions. In addition to financial losses, the organizations are also facing reputational loss, lack of consumer faith due to cyber-security incidents.
Cyber-security is a significant enterprise-wide strategy and risk issue that affects virtually all levels of an organization’s operating activities. Complete protection against Cyber Security threats is an unrealistic objective for the organization.
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