According to a 2024 survey, 66 percent of respondents among Chief Information Security Officers (CISOs) in the United States said human error is their organization's most significant cyber vulnerability. This represents a slight decrease compared with the previous year.

According to a 2024 survey, 84 percent of respondents among Chief Information Security Officers (CISOs) in Saudi Arabia agreed that human error was their organization's biggest cyber vulnerability. This share also reached over 80 percent in Canada, France, and South Korea. By contrast, 66 percent of respondents in the United Kingdom considered human error their organization's biggest cyber vulnerability.

In 2023, the most common cause or delivery of cyber attacks in the United States was Unpatched vulnerability, encountered by 23 percent of companies nationwide. Root cause unknown was the second most common origin of cyber attacks, with 22 percent of the attacks. Phishing and various types of human error were also likely to cause a cyber attack in the examined year.

As of October 2023, the human element was involved in 68 percent of data breaches worldwide. Ransomware or extortion accounted for 32 percent, while errors contributed to 28 percent of incidents. Third-party factors, including software vulnerabilities, were involved in 15 percent of breaches.

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Data Exfiltration Market Size 2024-2028

The data exfiltration market size is forecast to increase by USD 31.14 billion at a CAGR of 9.7% between 2023 and 2028.

In the market, the concern for data security continues to be a primary driver. With the increasing use of applications and the digitalization of businesses, the risk of data breaches through malware attacks has become a significant challenge. Telecom and IT sectors are particularly vulnerable to such threats, making the need for effective data security solutions more pressing. Antivirus and anti-malware solutions, as well as intrusion prevention systems, have emerged as crucial tools to combat these risks. However, the high cost of implementing these solutions can be a challenge for smaller organizations. As businesses continue to rely on trade secrets and sensitive information, the importance of strong security measures cannot be overstated.

What will the size of the market be during the forecast period?

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Data exfiltration, the unauthorized transfer of sensitive data from an organization's IT infrastructure, has emerged as a significant concern for businesses worldwide. This illicit activity can result in financial losses, reputational damage, and legal consequences. In this article, we delve into the data exfiltration landscape, discussing the threats, mitigation strategies, and best practices for organizations to protect their valuable data. Data exfiltration can occur through various means, including malware, phishing attacks, insider threats, and vulnerabilities in cloud technology. Malware, such as ransomware, can encrypt data and demand a ransom for its release. Phishing attacks can trick employees into revealing sensitive information, while insiders with authorized access can intentionally or unintentionally leak data. Vulnerabilities in cloud technology can also provide an avenue for attackers to exfiltrate data. To mitigate data exfiltration risks, organizations must implement a multi-faceted approach. First, they should focus on securing their networks and endpoints. Network segmentation, multi-factor authentication, and endpoint security are essential components of a Strong security strategy. Regular security audits, vulnerability assessments, and threat intelligence can help identify and address vulnerabilities before they are exploited. Second, organizations should prioritize data protection. Data encryption, compliance regulations, and digital forensics are crucial for safeguarding sensitive information.
Compliance with regulations like GDPR can help ensure that organizations handle data responsibly and mitigate the risk of data breaches. Third, employee productivity and cybersecurity awareness training are vital. Employees are often the weakest link in an organization's security posture. Regular training on cybersecurity best practices, such as secure coding practices, can help prevent data exfiltration through human error. Fourth, organizations should consider implementing zero trust security. Zero trust security assumes that all users and devices are potential threats and requires verification of their identity and the security of their devices before granting access to sensitive data. Fifth, cybersecurity insurance can provide financial protection against data exfiltration incidents. However, insurance policies should not replace Strong security measures. Lastly, organizations should have a data exfiltration response plan in place. A well-defined response plan can help minimize the damage caused by a data exfiltration incident and ensure that the organization can recover quickly. In conclusion, data exfiltration is a significant threat to businesses, and organizations must take a proactive approach to mitigate the risks. A multi-faceted security strategy that includes securing networks and endpoints, prioritizing data protection, focusing on employee productivity and cybersecurity awareness, implementing zero trust security, and having a data exfiltration response plan in place are essential components of an effective data exfiltration mitigation strategy.

How is this market segmented and which is the largest segment?

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

  SMEs
  Large enterprise


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan
    South Korea


  South America



  Middle East and Africa

By Type Insights

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

The market is experiencing notable growth due to several factors. In the US market, Small and Medium Enterprises (SMEs) in developing

According to a 2024 survey among global business and cyber leaders, nearly half of respondents highlighted the advance of adversarial capabilities, such as phishing, malware development, and deepfakes, as their greatest concern regarding the impact of generative artificial intelligence (GenAI) on cybersecurity. In addition, 22 percent of respondents were most concerned about data leaks and exposure of personally identifiable information through GenAI. Other key concerns included software supply chain risks and technical security of AI systems. AI-powered malware... With the launch of OpenAI’s ChatGPT in November 2022, concerns have been rising around its possible usage in cyber crime.Trained to create human-like texts in a shorter time without spelling errors, phishing e-mails written by ChatGPT would consequently be harder to detect, for instance. In addition, there is growing concern about AI-powered malicious software, commonly known as malware, as deep learning algorithms would allow hostile actors to target specific victims and remain undetected until specific conditions are met. ...Versus AI-powered cybersecurity Risks aside, the advantages brought by AI to cyber criminals can also bolster cybersecurity. In particular, generative AI-powered solutions can search through vast amounts of data to identify abnormal behavior and detect malicious activity. Looking forward, companies will have to adapt and stay up to speed so that generative AI does not end providing overall cyber advantage to attackers.

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Security Orchestration Automation Response Market Size 2024-2028

The security orchestration automation response market size is forecast to increase by USD 1.97 billion at a CAGR of 20% between 2023 and 2028. The market is experiencing significant growth due to the increasing number of cybersecurity threats, such as unauthorized access and network data breaches. With the frequency and sophistication of cyberattacks on the rise, organizations are turning to SOAR solutions to automate threat detection and response. Outsourcing of security services to service providers has become a popular trend in the IT infrastructure of various end-use industries, including IT & telecommunications, healthcare, BFSI, and critical infrastructure entities. This not only helps to reduce alert fatigue among computer professionals but also enables them to focus on more complex security incidents. Additionally, the adoption of hybrid models in cybersecurity is driving market growth, as these solutions allow for seamless integration with existing security tools. However, the high cost of deployment remains a challenge for some organizations, highlighting the need for cost-effective SOAR solutions.

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Phishing attacks continue to pose significant risks to modern businesses, with cybercriminals employing increasingly sophisticated tactics to bypass traditional security measures. In response, organizations are turning to Security Orchestration, Automation, and Response (SOAR) solutions to improve their cybersecurity posture and mitigate these threats. In the IT and telecommunication sector, cloud-based SOAR solutions are essential for BFSI industries to effectively combat ransomware threats, supported by CERT-In guidelines to enhance cybersecurity in the finance sector. SOAR platforms enable organizations to automate their response to security incidents using predefined playbooks. These playbooks outline the steps to be taken when specific threats are detected, ensuring a consistent and efficient response.

Furthermore, by automating repetitive tasks, SOAR solutions help reduce the workload on IT analysts and security teams, allowing them to focus on more complex issues. Outsourcing of security services to third-party providers has become a popular trend in the cybersecurity industry. However, hidden costs and potential quality of service concerns can make it challenging for organizations to choose the right service provider. SOAR solutions offer a cost-effective alternative, as they can be implemented in-house or through a managed service provider. Cultural and political values play a crucial role in cybersecurity, and organizations must ensure that their SOAR solutions align with their specific needs.

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.

Deployment

  Cloud
  On-premises


Application

  Network forensics
  Threat intelligence
  Incident management
  Others


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Deployment Insights

The cloud segment is estimated to witness significant growth during the forecast period. Security teams rely on cloud-based Security Orchestration, Automation, and Response (SOAR) solutions to mitigate evolving security risks more effectively. These systems streamline workflow management, enabling seamless integration of threat intelligence and compliance management. By automating response procedures, SOAR platforms reduce the workload on security monitoring teams and minimize human error. Cloud SOAR is a cost-effective alternative to on-premises solutions, with enterprises paying a monthly subscription fee for each device, which covers maintenance and system upgrades. This model is particularly beneficial for Small and Medium-sized Enterprises (SMEs), enabling them to implement advanced security measures at a lower cost. The ease of deployment and reduced time commitment compared to on-premises solutions further adds to the appeal of cloud SOAR for businesses.

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The cloud segment was valued at USD 469.50 million in 2018 and showed a gradual increase during the forecast period.

Regional Insights

North America is estimated to contribute 42% 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.

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The market in North America is experiencing consistent expansion due to several driving factors. Th

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Managed Security Services Market Size 2024-2028

The managed security services (MSS) market size is forecast to increase by USD 33.86 billion at a CAGR of 13.87% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing adoption of cloud-based solutions and the integration of predictive analytics. Cloud professional services are becoming increasingly popular as businesses seek to improve their security posture while reducing costs. In the domain name industry, network automation is a key trend, enabling service providers to manage large volumes of traffic more efficiently. DDoS attacks continue to pose a significant threat, leading to the demand for advanced cloud security solutions. The advent of Industry 4.0 and high-performance computing (HPC) is creating new opportunities for MSS providers, as these technologies require strong security to operate effectively. Bring-your-own-device (BYOD) policies are also driving demand for managed security services, as organizations struggle to secure a diverse range of devices accessing their networks. Despite these opportunities, there are challenges to overcome, including the potential for failure during implementation and the need for continuous monitoring and updating to keep up with evolving threats.

What will be the Size of the Managed Security Services (Mss) Market During the Forecast Period?

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The market encompasses a range of offerings, including Managed Firewall, Managed IP, Threat and Vulnerability Monitoring, Endpoint Security, and Managed DDoS protection. This market is experiencing significant growth due to increasing concerns over data breaches and cyberattacks across various industries such as healthcare, manufacturing, telecom IT, and others. With the proliferation of connected devices and the rise of Industry 4.0, the need for strong security solutions is more critical than ever. MSS providers offer both in-house and cloud-based solutions, staffed by IT security specialists who monitor and manage security infrastructure to protect against malicious attackers. Healthcare facilities and medical devices, in particular, face unique challenges in safeguarding patient privacy and securing sensitive data.
MSS solutions play a crucial role in addressing these concerns, providing threat intelligence, vulnerability assessments, and ongoing security management. In summary, the Managed Security Services market is a dynamic and growing sector, driven by the ever-evolving threat landscape and the increasing importance of data security for businesses across all industries. MSS providers offer essential services, including network, cloud, and data security, to help organizations mitigate risks and protect their digital assets.
Cloud security is a critical aspect of modern IT infrastructure, ensuring the safety of data and applications hosted in the cloud. Threat intelligence helps organizations stay ahead of emerging cyber threats by providing real-time insights and proactive strategies. Endpoint protection is essential to safeguard devices such as laptops, smartphones, and tablets from malware and attacks. Network security is a key layer of defense, protecting the organization's internal network from unauthorized access and cyberattacks. SIEM (Security Information and Event Management) solutions provide centralized monitoring and analysis of security events, enhancing visibility and threat detection. Risk management strategies are crucial for identifying, assessing, and mitigating potential security risks. Managed detection and response services provide continuous monitoring and rapid response to security incidents, while vulnerability management identifies and addresses security weaknesses.
Incident response plans ensure a swift and coordinated reaction to security breaches. Compliance management helps organizations meet regulatory requirements, ensuring data protection and security. Security automation streamlines processes to improve efficiency and reduce human error. Cybersecurity as a service offers scalable solutions for businesses to strengthen their security posture. Security monitoring is vital for identifying suspicious activity, while data protection ensures that sensitive information remains secure. Finally, identity and access management systems control user access, enforcing policies that protect systems from unauthorized entry.

How is this Managed Security Services (MSS) Industry segmented and which is the largest segment?

The 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.

End-user

  SMEs
  Large enterprises


Deployment

  Cloud-based
  On-premises


Service Type

  Managed Firewall
  Managed Intrusion Detection/Prevention Systems (IDP/IPS)

The Employee Automated Security Awareness Program (ASAP) market has emerged as a crucial component in the broader cybersecurity landscape, addressing an increasing need for organizations to fortify their defenses against human error and social engineering attacks. As cyber threats evolve, many businesses recognize t

[205+ Pages Report] Global Open Source Intelligence Market is estimated to reach a value of USD 28.34 Billion in the year 2026 with a growth rate of 19.9% CAGR during 2021-2026