Market Trends of Retail Cloud Security Industry
Intrusion Detection and Prevention to Register a Significant Growth
- When malicious activity is detected, an intrusion detection system (IDS) monitors network traffic and immediately provides alarms. The intrusion detector learning task is to build on a predictive model that can differentiate between bad connections, such as intrusions and attacks, and good connections. The system administrator can then investigate the alert and act to prevent damage.
- Different types of Intrusion Detection Systems (IDS) exist, depending on the software requirement. For instance, Cisco developed an Intrusion Prevention System (IPS), which provides network intrusion detection and prevention mode functionalities. Users can enable Snort in IPS or IDS mode based on their needs.
- According to Verizon's 2023 Data Breach Investigations Report,83% of breaches involved external factors with finanfial motives, retail, financial and healthcare sector has been seen at forefront of such attacked.These attacks were primarily made to steal customer data for profit.
- Many retailers invest in contactless transaction technologies that use IoT to process payments. These innovations contribute to human health protection and increase cyber threats. Attackers use sophisticated bot networks to collect data like credit card numbers or login credentials. Government agencies have started demanding MFA (multi-factor authentication) for systems that handle sensitive data in response to the rising tide of cyberattacks.
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Asia-Pacific to Witness the Highest Growth
- The retail sector suffers an average of 4,000 data security threats every year. In 2022, the Asia-Pacific area experienced the most cyberattacks for the second consecutive year, with 31% of all incidents remedied globally.
- According to the X-Force Threat Intelligence Index, spear phishing via attachment was discovered to be the leading infection vector at 40%. Ransomware was used in 13% of incidents, while backdoor deployment, which grants attackers remote access to systems, accounted for 31% of attacks.
- In March 2023, Keeper Security collaborated with Daiwabo Information System Co., Ltd. (DIS) to distribute security solutions across 19,000 sales partners and 90 bases to help protect Japanese businesses and customers from cyberattacks and data breaches. The Keeper platform is scalable to meet the demands of any size organization, deploys within minutes, and requires very little ongoing management. Furthermore, the solution can seamlessly interact with any security stack and data environment, including single-cloud, multi-cloud, and hybrid.
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