During the third quarter of 2024, data breaches exposed more than *** million records worldwide. Since the first quarter of 2020, the highest number of data records were exposed in the first quarter of ***, more than *** million data sets. Data breaches remain among the biggest concerns of company leaders worldwide. The most common causes of sensitive information loss were operating system vulnerabilities on endpoint devices. Which industries see the most data breaches? Meanwhile, certain conditions make some industry sectors more prone to data breaches than others. According to the latest observations, the public administration experienced the highest number of data breaches between 2021 and 2022. The industry saw *** reported data breach incidents with confirmed data loss. The second were financial institutions, with *** data breach cases, followed by healthcare providers. Data breach cost Data breach incidents have various consequences, the most common impact being financial losses and business disruptions. As of 2023, the average data breach cost across businesses worldwide was **** million U.S. dollars. Meanwhile, a leaked data record cost about *** U.S. dollars. The United States saw the highest average breach cost globally, at **** million U.S. dollars.

In 2024, the number of data compromises in the United States stood at 3,158 cases. Meanwhile, over 1.35 billion individuals were affected in the same year by data compromises, including data breaches, leakage, and exposure. While these are three different events, they have one thing in common. As a result of all three incidents, the sensitive data is accessed by an unauthorized threat actor. Industries most vulnerable to data breaches Some industry sectors usually see more significant cases of private data violations than others. This is determined by the type and volume of the personal information organizations of these sectors store. In 2024 the financial services, healthcare, and professional services were the three industry sectors that recorded most data breaches. Overall, the number of healthcare data breaches in some industry sectors in the United States has gradually increased within the past few years. However, some sectors saw decrease. Largest data exposures worldwide In 2020, an adult streaming website, CAM4, experienced a leakage of nearly 11 billion records. This, by far, is the most extensive reported data leakage. This case, though, is unique because cyber security researchers found the vulnerability before the cyber criminals. The second-largest data breach is the Yahoo data breach, dating back to 2013. The company first reported about one billion exposed records, then later, in 2017, came up with an updated number of leaked records, which was three billion. In March 2018, the third biggest data breach happened, involving India’s national identification database Aadhaar. As a result of this incident, over 1.1 billion records were exposed.

The largest reported data leakage as of January 2025 was the Cam4 data breach in March 2020, which exposed more than 10 billion data records. The second-largest data breach in history so far, the Yahoo data breach, occurred in 2013. The company initially reported about one billion exposed data records, but after an investigation, the company updated the number, revealing that three billion accounts were affected. The National Public Data Breach was announced in August 2024. The incident became public when personally identifiable information of individuals became available for sale on the dark web. Overall, the security professionals estimate the leakage of nearly three billion personal records. The next significant data leakage was the March 2018 security breach of India's national ID database, Aadhaar, with over 1.1 billion records exposed. This included biometric information such as identification numbers and fingerprint scans, which could be used to open bank accounts and receive financial aid, among other government services.

Cybercrime - the dark side of digitalization As the world continues its journey into the digital age, corporations and governments across the globe have been increasing their reliance on technology to collect, analyze and store personal data. This, in turn, has led to a rise in the number of cyber crimes, ranging from minor breaches to global-scale attacks impacting billions of users – such as in the case of Yahoo. Within the U.S. alone, 1802 cases of data compromise were reported in 2022. This was a marked increase from the 447 cases reported a decade prior. The high price of data protection As of 2022, the average cost of a single data breach across all industries worldwide stood at around 4.35 million U.S. dollars. This was found to be most costly in the healthcare sector, with each leak reported to have cost the affected party a hefty 10.1 million U.S. dollars. The financial segment followed closely behind. Here, each breach resulted in a loss of approximately 6 million U.S. dollars - 1.5 million more than the global average.

As of January 2025, the most significant data breach incident in the United Kingdom (UK) was the 2017-2018 Dixons Carphone breach. As a result of this incident, 14 million user records were affected, and 5.6 million payment card information was exposed. The Equifax data breach between 2011 and 2016 impacted over 15 million customers nationwide.

During the first half of 2024, around ** percent of cyberattacks carried out in Italy had cybercrime as a purpose. Cyber espionage was another motivation, representing the main reason behind roughly **** percent of attacks. By contrast, information warfare only accounted for *** percent of the cyberattacks in the country in the last examined period. Data breaches in Italy In 2023, over half of the Italian digital population was alerted that their personal data had been breached, and **** percent of the alerted users had the misfortune of being affected by data compromise on the dark web. Despite a decrease in the number of data sets affected in data breaches between 2020 and 2023, Italy recorded almost *** million exposed data sets at the beginning of 2023.Meanwhile, the average cost of data breaches for both Italian companies and targeted users kept growing, reaching **** million U.S. dollars in 2024, up from the **** million U.S. dollars recorded in the previous year. The Italian privacy landscape: GDPR effects As a state member of the European Union, Italy is covered by the General Data Protection Regulation (GDPR). Since 2018, the GDPR has regulated online data privacy and has the responsibility to represent consumers’ interests within the digital and tech landscape of the Union. As of 2023, approximately *** fines were issued in Italy due to violations of the GDPR – making Italy the second country in Europe with the highest number of violations dispensed to tech companies. The highest GDPR fine ever issued in Italy was at the expense of Telecom Italia (TIM), one of the largest Italian telecommunications companies. TIM was fined approximately **** million euros in January 2020. GDPR is enforced and helped by the country's Garante della Privacy, the national institution overseeing Italian users’ online rights, cybersecurity, and digital privacy.

The statistic shows data breach relation to privileged account access in organizations in the United States as of 2018. As of that time, ** percent of the respondents stated that the last security breach in their organization was related to someone with access to a privileged account.

As of 2024, the average cost per stolen record in data breaches worldwide amounted to *** U.S. dollars, up from *** dollars in the previous year. The average cost of a data breach worldwide was **** million U.S. dollars.

In 2024, manufacturing saw the highest share of cyberattacks among the leading industries worldwide. During the examined year, manufacturing companies encountered more than a quarter of the total cyberattacks. Organizations in the finance and insurance followed, with around 23 percent. Professional, business, and consumer services ranked third, with 18 percent of reported cyberattacks. Manufacturing industry and cyberattacks The industry of manufacturing has been in the center of cyberattacks in a long time. The share of cyberattacks targeting organizations in this sector in 2018 was at 10 percent, while in 2024, it amounted to 26 percent. The situation is even more compliacted when we look at the cyber vulnerabilities found in this sector. In 2024, critical vulnerabilities in manufacturing companies lasted 205 days on average. IT perspective and prevention With recent technology developments, cybersecurity is crucial to an organization’s success. Realizing this, companies have been gradually increasing cybersecurity investments. Thus, in 2024, the cybersecurity budget worldwide was forecast to increase to nearly 283 billion U.S. dollars. Roughly nine in ten board directors of companies worldwide in professional services and media and entertainment industries say they expect an increase in the cybersecurity budget.

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Critical Infrastructure Protection Market Size 2024-2028

The critical infrastructure protection (CIP) market size is forecast to increase by USD 54.8 billion at a CAGR of 6.77% between 2023 and 2028. The market is experiencing significant growth due to several key trends and challenges. The increasing adoption of IoT devices and cloud computing services in urban infrastructure projects, such as smart grids and smart cities, is driving the demand for advanced security solutions. Integration of these technologies into critical infrastructure increases the complexity of security requirements, necessitating the need for a skilled workforce and cybersecurity personnel. However, the high cost of CIP solutions remains a major challenge for market growth. As the US continues to invest in modernizing its infrastructure, the demand for integrated security solutions will persist. Key areas of focus include securing power grids, transportation systems, and water supply networks from cyber threats.

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The protection of critical infrastructure has emerged as a significant concern for nations worldwide, given the increasing threats from cyber attacks, physical incursions, and natural disasters. The vulnerabilities in communication systems, transportation systems, energy systems, water systems, and other physical and cyber systems can lead to severe economic, social, and national security implications. Critical infrastructure refers to the vital systems that are essential for the functioning of a nation. These systems include communication networks, transportation networks, energy and power grids, water and wastewater systems, healthcare facilities, financial institutions, defense establishments, and other key industries.

Additionally, the security threats to these systems can originate from various sources, including cyber hackers, terrorist attacks, and natural catastrophes. Cyber threats pose a significant risk to critical infrastructure, particularly in the era of increasing connectivity and IoT devices. The use of artificial intelligence (AI) and machine learning (ML) by cybercriminals has made it more challenging to detect and mitigate cyber attacks. Moreover, the growing reliance on cloud computing services for storing and processing critical data increases the risk of data breaches and cyber-attacks. Physical incursions and natural disasters are other significant threats to critical infrastructure. Natural disasters such as hurricanes, earthquakes, and wildfires can cause extensive damage to infrastructure, disrupting communication networks, transportation systems, and energy grids.

Furthermore, physical security threats, such as terrorist attacks or sabotage, can cause significant damage to critical infrastructure and lead to long-term consequences. To mitigate these risks, the market for Critical Infrastructure Protection (CIP) solutions is witnessing significant technological developments. These solutions aim to secure both physical and cyber systems against various threats. CIP solutions include various technologies such as blockchain, AI, ML, and advanced analytics. Blockchain technology can provide secure and decentralized data storage and transfer, reducing the risk of data breaches and cyber attacks. AI and ML can help detect and respond to cyber threats in real-time, while advanced analytics can help identify vulnerabilities and predict potential attacks.

In conclusion, the energy sector is a significant focus area for CIP solutions, given the critical role it plays in the functioning of the economy and national security. Energy systems are increasingly becoming digitized, making them more vulnerable to cyber attacks. CIP solutions can help secure energy systems against cyber threats and physical attacks, ensuring the reliable and secure delivery of energy to consumers. The protection of other critical infrastructure, such as transportation systems, communication networks, and water systems, is also crucial for ensuring economic security and public safety. CIP solutions can help secure these systems against cyber threats, physical incursions, and natural disasters, ensuring their continued availability and reliability.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Component

  Solutions
  Services


End-user

  Financial Institutions
  Government
  Defense
  Telecom
  Others


Geography

  North America

    US


  APAC

    China
    Japan


  Europe

    Germany
    UK


  South America



  Middle East and Africa

By Component Insights

The solutions segment is estimated to witness significant growth during the forecast period. The market plays a pivotal role in safeguarding essentia

As of 2023, over 72 percent of businesses worldwide were affected by ransomware attacks. This figure represents an increase on the previous five years and was by far the highest figure reported. Overall, since 2018, more than half of the total survey respondents each year stated that their organizations had been victimized by ransomware. Most targeted industries
In 2023, the healthcare industry in the United States was once again most targeted by ransomware attacks. This industry also suffers most data breaches as a consequence of cyberattacks. The critical manufacturing industry ranked second by the number of ransomware attacks, followed by the government facilities industry. Ransomware in the manufacturing industry
The manufacturing industry, along with its subindustries, is constantly targeted by ransomware attacks, causing data loss, business disruptions, and reputational damage. Often, such cyberattacks are international and have a political intent. In 2023, compromised credentials were the leading cause of ransomware attacks in the manufacturing industry.

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Data Catalog Market Size 2024-2028

The data catalog market size is forecast to increase by USD 1.38 billion at a CAGR of 20.78% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. The increasing demand for self-service analytics is driving market growth, as organizations seek to enable their business users to access and analyze data independently. Another trend is the rise of data mesh architecture, which involves decentralizing data management and creating a catalog of data assets. However, maintaining catalog accuracy over time remains a challenge. As data volumes continue to grow, ensuring that metadata is up-to-date and accurate becomes increasingly complex. This can lead to data inconsistencies, errors, and poor data quality, which can negatively impact business decisions. To address these challenges, market participants are investing in advanced data catalog that offers automated metadata management, data discovery, and data lineage capabilities.
These solutions enable organizations to maintain an accurate and up-to-date catalog of their data assets, ensuring that business users have access to reliable and trustworthy data for analysis.

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The market is experiencing significant growth due to the increasing volume and complexity of data being generated across various industries. Data catalogs provide a centralized repository for managing metadata, enabling efficient discovery, search, and access to data residing in diverse sources such as cloud object storage, data lakes, data warehouses, and NoSQL databases. Metadata plays a crucial role in understanding unstructured data, which is increasingly prevalent in sectors like healthcare and e-commerce. Compact solutions cater to the need for quick implementation and scalability. Data catalogs facilitate effective data governance by enabling business and technical metadata management. They support on-premises and cloud deployments, catering to the diverse needs of enterprise applications and business intelligence.
Hadoop and IT telecom are major adopters, while data security and privacy risks are driving the demand for advanced cataloging solutions. Data catalogs are essential for managing metadata related to email correspondences, account information, and other enterprise data, ensuring regulatory compliance and data access control. Retail and ecommerce sectors also leverage data catalogs to gain insights from their vast amounts of data, enhancing customer experience and driving growth.

How is this Data Catalog Industry segmented and which is the largest segment?

The data catalog industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Component

  Solutions
  Services


Deployment

  Cloud
  On-premises


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    India


  South America



  Middle East and Africa

By Component Insights

The solutions segment is estimated to witness significant growth during the forecast period.

Data catalog solutions are essential components of contemporary data management and analytics infrastructure. These solutions facilitate efficient data discovery, governance, collaboration, and overall data lifecycle management. By enabling users to search and access relevant datasets for analytical or reporting purposes, data catalogs reduce the time spent locating data, promote data reuse, and ensure the appropriate datasets are utilized for specific tasks. Centralized metadata storage offers comprehensive information about datasets, including source, schema, data quality, and lineage, enhancing data asset comprehension, enabling data governance, and providing users with the necessary context for effective data utilization. Key metadata types include technical and business metadata.

Data catalogs support various deployment options, including on-premises and cloud, catering to enterprise applications, business intelligence (BI), healthcare, e-commerce, and other industries. They integrate with various data sources, such as data lakes, data warehouses, NoSQL databases, and unstructured data, ensuring seamless data sharing among professional workforces with diverse technical skills. Data catalogs also support data security, adhering to security frameworks and addressing data breaches, while enabling data catalog management solutions, business glossaries, and data quality reports.

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The solutions segment was valued at USD 0.31 billion in 2018 and showed a gradual increase during the

I can confirm that we do hold the requested information however, we consider the name and General Medical Council (GMC) number to be personal data under section 3(2) of the Data Protection Act 2018. Disclosure of the medical assessor’s name or GMC number would result in the identification of the medical assessor when entered into the GMC public register. As the requested information would allow a medical assessor to be identified, I consider this information is exempt under section 40(2) and 40(3A)(a) of the FOIA (personal information). This is because it would breach the first data protection principle as: a) it is not fair to disclose medical assessors’ personal details to the world and is likely to cause damage or distress. b) these details are not of sufficient interest to the public to warrant an intrusion into the privacy of the medical assessor. For disclosure to comply with the lawfulness, fairness, and transparency principle, we either need the consent of the medical assessor or there must be a legitimate interest in disclosure. In addition, the disclosure must be necessary to meet that interest and finally, the disclosure must not cause unwarranted harm. In this case we do not have the consent of the medical assessor to disclose their personal information. This means that the NHSBSA is therefore required to conduct a balancing exercise between the legitimate interest in disclosing the information against the rights and freedoms of the medical assessor. Having reviewed the information you have provided I acknowledge that you have a legitimate interest in disclosure of the information. However, I agree with the previous decision that disclosure of the requested information would cause unwarranted harm. Whilst I acknowledge your comments on this, disclosure under FOIA is to the world and therefore the NHSBSA has to consider the overall impact of the disclosure and its duty of care. The expectation of the medical assessors is that they will remain anonymous and will therefore not be subject to contact or pressure from claimants or campaigning groups. Given the certainty that the name and/or GMC number will identify the medical assessor there is a reasonable expectation that this information would not be disclosed under the FOIA. Disclosing this information would be unfair and as such this would breach the UK General Data Protection Regulation first data protection principle. Please see the following link to view the section 40 exemption in full - https://www.legislation.gov.uk/ukpga/2000/36/section/40

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Incident Response System Market Size 2024-2028

The incident response system market size is forecast to increase by USD 126.4 billion at a CAGR of 20.63% between 2023 and 2028. The market is experiencing significant growth due to several key factors. Advanced threat hunting is becoming increasingly important as cyber threats continue to evolve, making it necessary for organizations to quickly identify and respond to security breaches. Central, state, and local governments, as well as social security funds, are investing in incident response systems to safeguard sensitive data and ensure business continuity. Log analysis and endpoint data security are critical components of incident response systems, enabling organizations to detect and respond to threats in real-time. Network traffic analysis is also essential for identifying anomalous behavior and potential security threats. This is particularly important in sectors such as mobile banking, cashless payments, online shopping, and IoT, where cybersecurity risks are high. Case management, orchestration, automation, intelligence, and log analysis are integral components of a strong incident response system.

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The incident response market is a significant segment of the cybersecurity landscape, focusing on mitigating the impact of information technology (IT) incidents. These incidents, which include cybersecurity breaches, ransomware attacks, and fraudulent activities, can significantly disrupt business operations and compromise sensitive data. Effective incident response is crucial for organizations to minimize downtime and financial losses. Moreover, these features enable security agencies to streamline their response processes, prioritize threats, and make informed decisions. Network traffic analysis and endpoint data analysis are essential elements of incident response, providing valuable insights into potential threats and their sources. By integrating machine learning algorithms, these systems can enhance their ability to detect and respond to advanced threats. Regulatory compliance is another critical factor driving the growth of the incident response market. With increasing data protection regulations, organizations must ensure they have the necessary tools and processes in place to respond effectively to cybersecurity incidents. Cloud services have also become a significant focus area for incident response systems.

Furthermore, as more organizations move their operations to the cloud, the need to secure these environments and respond effectively to incidents becomes increasingly important. Awareness and preparedness are essential components of an effective incident response strategy. Organizations must invest in training their IT staff and implementing policies and procedures to minimize the risk of cybersecurity incidents. The incident response market is expected to grow significantly in the coming years, driven by the increasing number of cybersecurity risks and the need for organizations to enhance their incident response capabilities. By investing in advanced incident response systems, organizations can improve their ability to detect, respond to, and mitigate cybersecurity threats, protecting their sensitive data and maintaining business continuity.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Surveillance systems
  Backup and disaster recovery solutions
  Geospatial technologies
  Threat management systems


Geography

  North America

    Canada
    US


  Europe

    UK


  APAC

    China
    India


  South America



  Middle East and Africa

By Type Insights

The surveillance systems segment is estimated to witness significant growth during the forecast period. The market for surveillance applications is poised for substantial expansion in the coming years. Advanced technologies such as infrared cameras, wireless CCTV systems, and IP surveillance solutions are fueling market growth in this sector. The heightened risk of security breaches in government entities and businesses is a primary reason for the widespread adoption of surveillance systems. As technology advances, so do the sophistication of security threats. Consequently, organizations are turning to video monitoring solutions to safeguard their premises and detect intruders. In the retail industry, the increasing number of shoplifting incidents has led to a rise in demand for surveillance systems to prevent inventory loss.

Furthermore, government sectors at all levels, including the Central, State, and Local, are significant buyers of these systems due to the heightened need for security. Log and

In 2023, the most common type of cyber crime reported to the United States internet Crime Complaint Center was phishing and spoofing, affecting approximately 298 thousand individuals. In addition, over 55 thousand cases of personal data breaches cases were reported to the IC3 during that year. Dynamic of phishing attacks Over the past few years, phishing attacks have increased significantly. In 2023, almost 300 thousand individuals fell victim to such attacks. The highest number of phishing scam victims since 2018 was recorded in 2021, approximately 324 thousand.Phishing attacks can take many shapes. Bulk phishing, smishing, and business e-mail compromise (BEC) are the most common types. In 2023, 76 percent of the surveyed worldwide organizations reported encountering bulk phishing attacks, while roughly three in four were targeted by smishing scams. Impact of phishing attacks Among the most targeted industries by cybercriminals are healthcare, financial, manufacturing, and education institutions. An observation carried out in the first quarter of 2023 found that social media was most likely to encounter phishing attacks. According to the reports, almost a quarter of them stated being targeted by a phishing scam in the measured period. Very often, phishing e-mails contain a crucial risk for the organization. Almost three in ten worldwide organizations that have experienced phishing attacks suffered from a customer or a client data breach as a consequence. Phishing scams that delivered ransomware infections were also common for the surveyed organizations.

Received 17 February 2025: ‘may I have details of your independent doctor so I can check them out.’ Received 25 February 2025: ‘Please could you arrange for me to receive the Freedom of Information Act so that I can check the qualifications of your independent doctors.’ Our response I can confirm that the NHS Business Services Authority (NHSBSA) holds some of the information you have requested. Question 1 I can confirm that we do hold information on the names and General Medical Council numbers for independent medical assessors. Please note that this response does not relate to a specific claim or claimant. The request is being answered more generally given requests under FOIA are requester-blind, that is to say the identity of the requester is not taken into account when considering a request for information under FOIA. We consider the name and GMC number to be personal data under the Data Protection Act 2018. Disclosure of medical assessors’ names or GMC numbers would result in the identification of the medical assessors when entered into the GMC public register. Please be aware that I have decided not to release the names and GMC numbers of the medical assessors as this information falls under the exemption in section 40 subsections 2 and 3(A)(a) of the FOIA. As the requested information would allow a medical assessor to be identified, I consider this information is exempt. This is because it would breach the first data protection principle as: A. it is not fair to disclose medical assessors’ personal details to the world and is likely to cause damage or distress. B. these details are not of sufficient interest to the public to warrant an intrusion into the privacy of the medical assessor. The requested information is exempt if disclosure would contravene any of the data protection principles. For disclosure to comply with the lawfulness, fairness, and transparency principle, we either need the consent of the data subject(s) or there must be a legitimate interest in disclosure. In addition, the disclosure must be necessary to meet the legitimate interest and finally, the disclosure must not cause unwarranted harm. This means that the NHSBSA is therefore required to conduct a balancing exercise between the legitimate interest of the applicant in disclosure against the rights and freedoms of the medical assessor. While I acknowledge that you have a legitimate interest in disclosure of the information, the disclosure of the requested information would cause unwarranted harm. Disclosure under FOIA is to the world and therefore the NHSBSA has to consider the overall impact of the disclosure and its duty of care. The expectation of the medical assessors is that they will remain anonymous and will therefore not be subject to contact or pressure from claimants or campaigning groups. Given the certainty that the name and/or GMC number will identify the medical assessor there is a reasonable expectation that this information will not be disclosed under the FOIA. Disclosing this information would be unfair and as such this would breach the UK General Data Protection Regulation first data protection principle. Please see the following link to view the section 40 exemption in full: https://www.legislation.gov.uk/ukpga/2000/36/section/40 Question 2 I have established that the NHSBSA does not hold this information. This is because the medical qualifications and experience of the medical assessors are the responsibility of the third-party medical assessment supplier. I hope, however, that the following information provides reassurance on this point. All claims are assessed by the independent medical assessment supplier with a consistent approach. Each case is considered on its own merits, by an experienced independent medical assessor. The contract with our supplier does not require them to tell us details of the qualifications of the medical assessors or their experience. The contract requires that all assessments carried out are undertaken by suitably qualified and experienced registered medical practitioners. This includes being registered on the UK General Medical Council register, with a licence to practise and meet or exceed the following requirements: • they are a registered medical practitioner with at least five years’ post graduate experience; and • they have experience of the performance of medical and/ or disability assessment, addressing questions of causation and impact in the context of legislative or policy requirements to assist the decision maker

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Risk Analytics Market Size 2024-2028

The risk analytics market size is estimated to grow by USD 39.55 billion at a CAGR of 11.73% between 2023 and 2028. Market growth is influenced by various factors, including the rising incidence of data breaches and security lapses among enterprises, the increasing need for stringent compliance with government regulations, and the growing complexities inherent in modern business processes. These challenges drive demand for robust security solutions and compliance frameworks, stimulating market expansion. Additionally, the escalating threat landscape underscores the criticality of adopting comprehensive security measures, further fueling market growth. The need to navigate intricate regulatory environments and protect sensitive data propels organizations to invest in advanced security solutions and compliance strategies, driving market dynamics. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

By Component

The market share growth by the solution segments is estimated to witness significant growth during the forecast period. The solution segment is a crucial component in the global risk analytics market. With the increasing demand for solutions that can help mitigate risks and improve overall organizational performance, the solution segment is expected to experience significant growth during the forecast period. This growth is fueled by advancements in technology, increasing data volumes, and the need for effective risk analysis and management.

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The solution segments showed a gradual increase in the market share of USD 19.06 billion in 2018. The ability to assist in the automation of processes that are not too difficult or complicated, and require a significant amount of time is one of the biggest advantages of using risk analytics solutions. Compliance management solutions, for instance, are considered to be a means of ensuring that an organization complies with applicable legislation. This allows the software to simplify compliance procedures, reduce errors and eliminate the need for costly and time-consuming manual processes.

By Deployment

The on-premises segment in the market refers to a solution that is installed and deployed on the organization's own server and managed by its IT department. To ensure that organizational policies and security standards are respected, this arrangement allows any part of a risk management system or data to be controlled by an organization. One of the most significant advantages offered by an on-premises segment is to be able to configure threat management systems in line with company-specific requirements, which allows for a more tailored solution.

By Region

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APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Yet another significant region is North America, which dominated the market in terms of revenue share. This is due to the presence of a large number of organizations belonging to the BFSI, IT, healthcare, and other industries. Organizations belonging to these end-user industries are the major buyers of these analytics solutions in this region, as it enables cash management, payments, financial instruments, accounting, banking, risk management, and hedge accounting.

Market Dynamics and Customer Landscape

The Risk Analytics Market is witnessing significant growth due to the increasing adoption of technology in risk management. Machine Learning (ML), Big Data, and Cloud computing are key technologies driving the market. ML algorithms enable real-time analysis of vast amounts of data, helping enterprises identify and mitigate risks more effectively. Cloud deployment of risk analytics software is gaining popularity due to its flexibility and cost-effectiveness. However, on-premise solutions continue to be preferred by some enterprises due to data security concerns. Risk analytics software is used to manage both physical and operational risks. Physical risks include climate change and natural disasters, while operational risks include internal factors such as human errors, systems failures, and fraud cybercrime. Cybersecurity is a major concern for enterprises, and risk analytics software plays a crucial role in mitigating cyber risks. Security data sources, such as firewalls, intrusion detection systems, and security information and event management (SIEM) systems, provide valuable data

In 2024, the monetary damage caused by cybercrime reported to the United States' Internet Crime Complaint Center (IC3) saw a significant year-over-year increase, amounting to a historical peak of **** billion U.S. dollars. Overview of cybercrime in the U.S. Cybercrime continues to be one of the biggest challenges for governments around the world. In the United States, ****************** and ********* were among the most reported categories of cybercrime in 2024, with over ******* individuals falling victim to phishing attacks. Additionally, data breaches cost the U.S. organizations over ************ U.S. dollars on average as of February 2024. Fraud involving elderly Along with other reported internet crimes, online fraud is continuously growing. Targeting one of the most vulnerable groups, the elderly, cybercriminals show notorious skills in ************************************************************. Furthermore, individuals aged 60 and older, reported falling victims of extortion and personal data breach in 2024.

I can confirm that we do hold information on the names and General Medical Council (GMC) numbers for independent medical assessors. Please note that this response does not relate to a specific claim or claimant. The request is being answered more generally given requests under FOIA are requester-blind, that is to say the identity of the requester is not taken into account when considering a request for information under FOIA. We consider the name and GMC number to be personal data under the Data Protection Act 2018. Disclosure of their names or GMC numbers would result in their identification when entered into the GMC public register. Please be aware that I have decided not to release the names and GMC numbers of the independent medical assessors as this information falls under the exemption in section 40 subsections 2 and 3(A)(a) of the FOIA. As the requested information would allow an independent medical assessor to be identified, I consider this information is exempt. This is because it would breach the first data protection principle as: A. it is not fair to disclose their personal details to the world and is likely to cause damage or distress. B. these details are not of sufficient interest to the public to warrant an intrusion into their privacy. The requested information is exempt if disclosure would contravene any of the data protection principles. For disclosure to comply with the lawfulness, fairness, and transparency principle, we either need the consent of the data subject(s) or there must be a legitimate interest in disclosure. In addition, the disclosure must be necessary to meet the legitimate interest and finally, the disclosure must not cause unwarranted harm. This means that the NHSBSA is therefore required to conduct a balancing exercise between the legitimate interest of the applicant in disclosure against the rights and freedoms of the independent medical assessor. While I acknowledge that you have a legitimate interest in disclosure of the information, the disclosure of the requested information would cause unwarranted harm. Disclosure under FOIA is to the world and therefore the NHSBSA has to consider the overall impact of the disclosure and its duty of care. The expectation of the independent medical assessors is that they will remain anonymous and will therefore not be subject to contact or pressure from claimants or campaigning groups. Given the certainty that the name and/or GMC number will identify them, there is a reasonable expectation that this information will not be disclosed under the FOIA. Disclosing this information would be unfair and as such this would breach the UK General Data Protection Regulation first data protection principle. Please see the following link to view the section 40 exemption in full: https://www.legislation.gov.uk/ukpga/2000/36/section/40 Qualifications and experience The NHSBSA does not hold information on the independent medical assessors' qualifications. This is because their medical qualifications and experience are the responsibility of the third-party medical assessment supplier. I hope, however, that the following information provides reassurance on this point: All claims are assessed by the independent medical assessment company with a consistent approach. Each case is considered on its own merits, by an experienced independent medical assessor. The contract with our supplier does not require them to tell us details of their qualifications or their experience.