Hackers have upped their game in recent years in an effort to make off with corporate data and consumer information. Some big brands - Target - have fallen victim to cybercriminals, placing greater emphasis on security solutions that safeguard such valuable content.
A recent Gartner report indicated that the global security software market increased 5 percent in 2013, totaling $20 billion.
Ruggero Contu, research director at the firm, explained that although market growth in 2013 was slower than in previous years, it was still a healthy rate nonetheless.
"This slightly tempered growth was partly due to the increased commoditization of the endpoint security (particularly consumer endpoint software) and secure email gateway (SEG) subsegments (particularly consumer endpoint software) that in 2013 accounted for around 25 percent of the total security software market," Contu said.
Security techniques must evolve
Businesses using traditional security methods to defend against future threats stand little chance of thwarting cybercriminal efforts. PricewaterhouseCoopers' Global State of Information Security Survey 2014 found that 84 percent of CEOs are confident in their organizations' safeguards.
However, PwC indicated that very few companies included in the study are actually security leaders.
"You can't fight today's threats with yesterday's strategies," asserted Gary Loveland, a principal in PwC's security practice. "What's needed is a new model of information security, one that is driven by knowledge of threats, assets and the motives and targets of potential adversaries."
Perhaps the reason there is such a major disconnect between how corporate leaders feel about their security and their actual defenses is because new technologies and trends are being integrated into operations before they are secured. PwC indicated that cloud computing and bring-your-own-device initiatives are two IT developments following this mold.
The pairing of cloud computing and BYOD is especially dangerous for organizations because employees can now access documents anywhere at any time, leaving them exposed to hackers waiting in the wings. Misplaced or stolen devices can also reveal sensitive data if a malicious party obtains the gadget.
Another reason for lapses in security is a lack of collaboration. PwC added that executives are not always willing to share valuable intelligence with other firms.
Businesses may be competitors, but if an attack is targeted against a particular industry, it can negatively impact other companies in this space if action is not taken.
Receive proper support
Companies cannot view security as a corporate option, but a necessity that must be improved day in and day out if they want to keep hackers at bay. A single breach can result in major financial losses stemming from lost customers and compliance fines. Going at it alone may not be a viable approach any longer, which is why partnering with a leading third-party vendor is a great way to receive the necessary support to safeguard corporate and consumer data.
Pinnacle, an Advanced Imaging Solutions company, is a leading managed IT services provider that offers security solutions for your email and network. If you business is struggling to protect your most valuable assets, contact us to learn more about our Data Protect options.