Information Technology (IT) Risk Management
ABAS platforms aid in the detection of security gaps from a variety of sources. Organizations today devote a significant portion of their IT budgets and resources to implementing and measuring security. Furthermore, continuous and rapid growth in digital business adoption can be seen around the world, increasing the number of solutions that rely on applications. However, there has been no such solution that can solve all application security issues. The simulated platform resolves the issues and aids in the search for system vulnerabilities. Furthermore, once a vulnerability has been identified, developers can easily protect the enterprise system from the identified vulnerabilities.
Increasing Digitization is Increased Risks, Vulnerabilities and Failures
Enterprises are integrating technologies such as AI, ML, and IoT for digital infrastructure as they move toward rapid digitalization. According to Smart Insights, 34% of businesses have already completed digital transformation. People are witnessing a shift in consumer preferences as a result of digitization. According to the Outer Box report, 79 percent of consumers made a purchase using a mobile device in the previous six months. This shift demonstrates that digitalization is the way of the future for businesses. Governments in APAC and MEA, such as Saudi Arabia and India, are undertaking a variety of initiatives, such as Digital India; smart cities, such as Dubai Internet City (DIC); and developing smart infrastructure aimed at digitization. Manual government processes, such as income tax filing and applying for passports and driving licences, have also seen a significant shift as a result of digitalization. Consequently, the number of connected devices and data centres is rapidly increasing and securing these devices and data centres, as well as testing them for security on a regular basis, would be critical for governments and businesses. The future for ABAS looks attractive.
Who’s who in the BAS SPACE?
The top 5 leaders of Cybercrime world
Application Vulnerabilities are major Causes of Security Breaches
Cybersecurity issues are becoming a day-to-day struggle for individuals and businesses.
According to Cybint, 95% of cybersecurity breaches are caused by human error.
Recent trends, side effects of a global pandemic and cybersecurity statistics reveal a huge increase in hacked and breached data from sources that are increasingly common in the workplace, like mobile and IoT devices. On top of this, COVID-19 has ramped up remote workforces, making inroads for cyber-attacks.
To successfully fight against malicious intent, it’s imperative that companies make cybersecurity awareness, prevention and security best practices a part of their culture.
However, internal vulnerabilities are a major source of security breaches in organizations. Internal vulnerabilities include careless workers, employees recruited by competitors to corrupt company data, disgruntled employees, and employees who use data for personal gain on purpose. Cybercriminals achieve their financially motivated goals by exploiting internal actors through attacks such as SQL injection, email phishing, and Man-in-the-Middle (MiTM). According to Verizon, 48% of malicious email attachments are office files, 34% of data breaches involve internal actors such as employees, and 94% of malware is delivered via email.
The Cybersecurity Skills Gap Will Remain an Issue
According to Fairfield Market Research initial estimates the worldwide information security market would be approximately $180.5 billion in 2025.
The consequences for businesses that experience data breaches are severe and increasing. This is mainly due to the increased regulatory burden for notification of the individuals whose data has been compromised. Notification requirements and penalties for businesses suffering a data breach differ with the jurisdiction. Companies doing business internationally may have customers in many jurisdictions and may have to comply with a variety of requirements. The costs of such a process together with legal penalties, possible compensation for damages and any resulting lawsuits can be high enough to constitute an existential threat to some companies.
Stricter legislations are passed in regions across the world. Some standouts from recent years include the European Union’s 2018 General Data Protection Regulation (GDPR) and California’s 2020 California Consumer Privacy Act (CCPA). Data privacy legislation like HIPAA, SOX, ISO 27001 and more.
The report encompasses the different strategies such as partnerships and collaborations, mergers and acquisitions, and product developments adopted by the major players to increase their market share. Some of the major technology vendors in the ABAS market are Qualys, Rapid7, Sophos, Keysight, Attack IQ, Cymulate, XM Cyber, Skybox Security, SafeBreach, FireMon, Verodin (US), Foreseeti, NopSec, ReliaQuest, Scythe, CyCognito, Aujas and, BitDam.
Key Elements Included In The Study: Global Automated Breach and Attack Simulation Market
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