Increasing Dependency on Data Fuels Growth of Data Center Security
We’re hooked. Hooked on the internet as part of our day-to-day lives, that is, whether it’s social media or our reliance on the growing number of smart home devices. And that trend only will continue to grow — fueling the need to not only ensure that our data centers have a higher rate of reliability and uptime, but that our consumers’ data is secure.
According to a recent report, that dependency on data will drive a huge demand for security. As a result, the data center security market is projected to hit nearly $13 billion in sales by 2021, with a CAGR (Compound Annual Growth Rate) of 15.36 percent from 2016 to 2021.
The world’s increasing dependency on connectivity is leading to the need for advanced cyber security solutions. Here are some things you should consider as part of your efforts to ensure that your data center operations are secure — at least moreso than they were yesterday.
Recognize the immensity of the problem. Without fully grasping the extent of cyber crime, it’s difficult for company leaders to take the initiative to implement measures to address the problem. Studies show that cyber crime is a huge problem. In fact, it’s an epidemic, according IBM Corp. CEO Ginni Rometty. It actually could be the greatest threat to every company in the world, Rometty said.
Expand the range of accountability. It’s apparent that there’s a lack of accountability for the issue of maintaining data security. In a survey of company executives, many felt it wasn’t their responsibility to ensure data security. Calling it a cybersecurity “accountability gap,” security firm Tanium pointed out that a survey showed that 40 percent of executives said they didn't feel responsible for the impact of a cyberattack. For the most part, they felt it was the responsibility of the IT team.
“Executives generally don't feel they have an important role in information security, believing it to be a problem for their IT and security teams,” said Tanium Chief Security Officer David Damato in an article by SC Magazine. The global survey included responses from 1,530 C-level executives, non-executive directors, Chief Information Officers, and Chief Information Security Officers.
Protect yourself. As recent events have shown, it doesn’t matter if you’re a Fortune 50 company or a federal government agency, it’s difficult to guarantee that you never will be a victim of a cyber attack. That’s why many companies are turning to cyber insurance to protect their business in the event of a cyber attack. According to PwC, one-third of American companies have already purchased some type of cyber insurance. Also, the total value of premiums is expected to hit $7.5 billion by 2020.