London, 02 February 2015 – A growing number of consumers using mobile devices for a range of activities is contributing to a CAGR of 13.14 percent from 2014-2019 in the Global Cyber Security Market in the BFSI Sector, according to a new report from research firm TechNavio.
The need for any business to stay connected 24/7 has encouraged employees to use their personal portable devices such as cellphones, tablets and laptops to gain access and store confidential information, thus increasing the need to protect data.
Many mobile devices are not secure, it can be easy for hackers to gain unauthorized access to mobile devices in corporate networks, which may lead to fraudulent activities with the misuse of business-critical data. Therefore, enterprises are increasingly adopting cyber security solutions to secure their networks and provide employees with secured access to confidential information.
The latest report by TechNavio emphasizes the growing demand for cloud-based security solutions. These solutions provide significant advantages, which has increased their demand among organizations.
“Many companies opt for cloud-based IT security solutions that are cost-effective and compatible with payment card industry data security standard regulations and offer round-the-clock monitoring of systems,” says Faisal Ghaus, Vice President of TechNavio.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
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