Increased threats to stored information due to the rising number of cyber attacks is just one of many factors driving the data center security market, according to new figures from Grand View Research, which says the global market is expected to reach USD 15.49 billion by 2024.
The report says data centers need to be safeguarded against attacks and manipulation at both physical and logical level, subsequently creating a need for a cumulative deployment of security infrastructure.
The increasing awareness about the need for security, growing demand from the data center users for an integrated infrastructure, increasing adoption of cloud computing and virtualisation, and threat to the stored information due to the rising number of cyber-attacks are expected to propel industry over the forecast period.
With a large number of businesses moving to cloud computing platforms and virtualisation of data storage techniques, the traditional boundaries and perimeters of the networks are being eliminated.
End users need to be upgraded and equipped with new and efficient technology to tackle rising numerous threats and vulnerabilities. These existing conditions are expected to help the industry grow in the coming years.
According to the report, demand is also fuelled by a large number of small and medium enterprises that are moving their resources to public clouds and the growing amount of data generated online.
The necessity to protect and safeguard information, which includes critical information such as transaction records, personal information, and intellectual property, will help to upsurge the demand over the forecast period.
“The increasing number of attacks not only jeopardises the reputation of companies but also endangers large amount of private and corporate information,” the report reads.
“The recent rise in the attacks in large corporations to gain access to these repositories of data has brought the security issues in the data centers to the forefront, hence creating awareness amongst the industries as well as the masses.”
The report says the ever-changing nature of technology and the growing sophistication of attacks have led to innovations and resource pooling by vendors in the data center security market, which may pave the way for customisable and configurable solutions.
“As there is a growing need for data center security solutions, the market is expected to foresee adoption in numerous diverse verticals.”
Further key findings from the report suggest the gradual shift toward cloud computing as well as cloud storage and networking is bringing out numerous potential vulnerabilities and risks of exposure of important and crucial information.
“This has awakened the industry to strive for better and advanced security measures at various levels in the data center networks,” the report says.
According to the findings, the growing number of security breaches and the increasing number of attacks on data centers across the world are creating awareness regarding the need of improved security measures, both physical, and logical.
“Moreover, due to the recent exasperating breaches of the information repositories of large corporations, the necessity of a comprehensive security policy and its execution is in a greater demand,” it says.
“With a growing demand from data center users to safeguard their information and the major initiatives taken by the governments as well as industries to regulate data security and privacy, the industry is expected to grow at a rapid rate over the coming years.”