2018 starts on a promising note for enterprises in the European Union, who are actively seeking and investing in data protection technologies as these move into technology platforms are giving greater emphasis on cloud and mobile securities. With the EU General Data Protection Regulation (GDPR) compliance deadline fast approaching on 25th May this year, European firms are continuing their expenditure on cloud and mobile platform security with a foray into deception technologies. Here are some interesting statistics-
It is no surprise that data breaches have seen a continuous escalation in the recent years and this can be attributed to the lack of security awareness and training.
While the above statistics clearly show that there is an overall increased expenditure on the cloud security, mainly driven by the compliance regulation, it is still surprising that investment in traditional security technologies has remained unchanged and strong. Even though the new security technologies help in negating the emerging security threats, the investment in them is tentative and limited. Security experts feel that this is going to change as more enterprises adopt a risk-based approach to security.
While companies are still hooked to the old security measures, there is a need to have a renewed interest in newer data protection technologies like IAM, deception and SSO, which are all parts of the CASB solutions suites.