ABI: Cyber attacks pushing DLP market growth

August 09, 2014

Data breaches are growing in number, driving a massive loss prevention market, according to a new report from analytical firm ABI Research.

It's not just the quantity, however, as these enterprise attacks have also been growing in sophistication throughout the past decade, to the point where breach and data theft at the enterprise level are now inevitable.

In 2013 alone, over 800 million records were exposed across a number of breach incidents, causing significant business setbacks. A common outcome following a data breach is reputation and financial damage.

Seemingly secure sites and services are vulnerable to data breaches, with Facebook, Gmail, Twitter and even massive retailers such as Target reporting substantial breaches over the past few months. As the numbers continue to climb, security needs to be placed higher on the priority list.

Businesses are beginning to understand this need, as ABI has reported that the market for Data Loss Prevention (DLP) solutions is climbing, and will reach US$1.7 billion by the end of this year.

DLP solutions are designed to put comprehensive coverage in place across physical, application and network channels, delivering a high level of security.

"If implemented carefully, DLP solutions can mitigate data loss risks, comply with government regulations, and protect customer privacy," said Monolina Sen, and ABI cybersecurity senior analyst.

Comprehensive and frequent security audits can help to add an additional layer of business security, by checking systems for any trace of an outside attack. They're also extremely useful for picking up any malicious activity introduced by users accessing unsafe web content or services.

Neglecting security can lead to significant data breaches, often with the potential to cost businesses substantially in terms of reputation and finance. As the number of breaches grows, security needs to receive an increased focus at all levels.

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