DUBAI, UAE, Sept. 28, 2020 /PRNewswire/ -- Future Market Insights (FMI) anticipates the global digital risk protection platforms market to surge at a stellar CAGR of 10.1% during the assessment period 2020-2030. Extensive usage across several end-use industries, across nations, has prompted escalating digital connectivity, lack of awareness about cyber-attacks, fragile regulations, and rising cross-border data exchange. Any form of a data breach can prove to be disastrous for an organization's long-term survival, this has compelled organizations to invest in sturdy digital risk protection platforms.
Cyber malefactors are leveraging the COVID-19 pandemic landscape to originate data theft attacks, phishing emails, and ransomware to steal confidential data. Based on these trends, the market for digital risk protection platforms is poised to record a prolific growth amid the course of the pandemic and further. The growth is anticipated to surge to 11% in 2020 alone.
"Leading players are capitalizing on integrated cloud-based solutions for e-mail security and data protection & mobility to diminish threat and compliance risk." says an analyst at FMI.
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Digital Risk Protection Platform Market - Key Takeaways
- Cloud-based solutions stay majorly sought-after in digital risk protection solutions to minimalize potential threats.
- Based on the enterprise, large-scale enterprises will remain dominant in the global scenario, accounting for more than 50% of the total revenue share.
- In terms of industry, the government sector remains dominant owing to the requirement to shield state secrets.
Digital Risk Protection Platform - Key Trends
- Adoption of the latest technologies such as collaboration tools and mobile applications drives the market growth.
- Expanding government budgets to adapt digitalization, speeding up the expansion of the digital risk protection platform market
- The need for dynamic security solutions by business entities is escalating the need for the digital risk protection platform market.
- Analysis of attack patterns and early detection to minimize risk to system privacy, identity, data, and integrity open up impressive growth prospects.
Digital Risk Protection Platform - Regional Analysis
- North America, led by the US dominates the global market, registering a CAGR of 7% over the forecast period.
- Europe is poised to witness high demand for a security solution, recording a staggering 10% CAGR due to the entrance of e-commerce and digitization of businesses.
- The Asian market will record notable growth, led by the East Asian region. Among others, Japan will grow at a 13.5% CAGR during 2020-2030.
Digital Risk Protection Platform - Competitive Landscape
The global market is highly fragmented, inclusive of the presence of global corporations and several regional players. Leading players identified in the global market are Digital Shadows Ltd, Proofpoint, RSA Security LLC, FireEye, Cyberint, Axur, Safeguard Cyber, and RiskIQ.
Players are extensively focusing on product launches, partnerships, and collaborations to remain ahead of the competition. For instance,
Proofoint collaborated with SaiPoint to build up a cyber-security solution targeted at protecting users' data in e-mail inboxes. Furthermore, end-users could benefit secure access to applications without any concern about malware attacks.
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Digital Risk Protection Platform - Taxonomy
- Integrated Digital Risk Protection Platform
- Integration & Implementation
- Digital Risk & Advisory
- Support & Maintenance
- Large Enterprises
- IT & Telecom
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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Future Market Insights, in its new offering, provides an unbiased analysis of the global digital risk protection platform market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the digital risk protection platforms market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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