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Data Loss Prevention Tools Sought By Mobile, Social, Cloud Users

By Author: Tomas Cohen

Companies worldwide are making room in their budgets for line items like security for the technological resources they use. More and more companies are seeing the benefits of spending to receive the protection that comes with data loss prevention tools, according to new market research.

Gartner, a company that focuses on IT analytics, announced that globally, money spent on electronic security will reach $71.1 billion this year alone, a 7.9% increase over 2013.

Of security expenditures, Data Loss Prevention Tools are among the most important and it is likely that even more money will be spent on such items in the future. In fact, Gartner is saying that this piece of the puzzle has the potential to reach a growth rate of 18.9% over the 12-month period.

Gartner also expects big things in 2015, citing a potential of 8.2% growth to a whopping $76.9 billion in spending on Data Loss Prevention Tools and security around the world.

What could spur such an eruption? Catalysts include users’ willingness to engage in cloud computing, the rising popularity of social media resources, and a greater call from the public for mobile technology and information.

Lawrence Pingree, Gartner’s Director of Research, tells us the culmination of these factors will cause weak points that need to be addressed. “[This is] creating new opportunities,” says Gartner, who stresses that by knowing and understanding security issues, Data Loss Prevention Tools can be made all the more effective. It’s important, he says, to monitor, “contextual information and other security intelligence.” In fact, the threat is growing: attacks are made easier by increased technology, and technology is the only way to fend those attacks off. Pingree reiterates that solid security and mitigation, as well as immediate response to problems, is imperative.

The release of information from Gartner nearly mirrored that of ABI Research only a few weeks ago. ABI offered up insights that Data Loss Prevention would see losses closing in on $1.7 billion as 2014 came to an end, and as the corporate world searched for viable solutions to protect virtual assets including applications, various devices, databases, and networks.

Corporate leaders from various industries understand the importance of virtual security. Without a good handle on security practices, their companies face downtime of integral IT systems and massive problems in day-to-day operations. It’s no wonder many sink major percentages of their budgets into data recovery and back-up options. Oracle users, for example, have the option of using vanguard duplicating databases to plan for unforeseen contingencies. The use of such tools keeps time off-line down, and limits potential loss of information overall, helping keep the companies that use them in good standing with their clientele and stakeholders, while continuing profits uninterrupted.

Companies are also looking to the cloud as their security needs increase. Gartner estimates that about 10% of emerging technology in data loss prevention will be cloud-based when it comes to IT security as we near 2015, with even more –potentially 30% -- of small and medium business owners choosing cloud-based options. This claim is bolstered by research from Oxford Economics and Windstream, who tell us that many businesses are looking to cloud-based options for information retrieval in case of the unthinkable. In fact, they say that almost half of all companies polled intend to move vital information to the cloud for simpler retrieval and that as many as 64% will follow their lead by 2016. The reasoning is simple, according to Gartner: Cloud-based products for day-to-day security and risk management are relatively inexpensive and there is a lot of growth potential for companies that move from local servers to cloud-based options.

Another reason for the rise of spending for virtual protection is spurred by government regulation. Data protection and privacy laws are beginning to be enforced globally, with forerunners in the United States, and increasing awareness and regulation coming into play in Australia, Asia, and Europe.

Gartner is set to continue education focused on these trends at future Security and Risk Management Summits in major hubs including London, Dubai, and Sydney.

Author:
Tomas Cohen is a security enthusiast and analyst covering the most significant security topics and trends prevalent worldwide. He also involves in the technology related to Cloud Security, Data Loss Prevention Tools, Box Security etc.,

Total Views: 167Word Count: 704See All articles From Author

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