Artificial Intelligence
Worldwide Cloud-based Email Security Industry to 2025 – BFSI is Expected to Hold Major Share
Dublin, Nov. 05, 2020 (GLOBE NEWSWIRE) — The “Cloud-based Email Security Market – Growth, Trends and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The global cloud-based email security market was valued at USD 762.82 million in 2019, and it is expected to reach a value of USD 1246.99 million by 2025, at a CAGR of 8.68%, during the forecast period from 2020 to 2025.
According to 99 Firms, a prominent email market vendor in the global market, there were about 3.9 billion email users worldwide in 2019, which is expected to reach approximately 4.3 billion in 2023. According to the data port, 45% of emails are spam, and email spam costs businesses about USD 20.5 billion annually. The growth of the cyber environment and related technologies paved the way for new threats. Cyberattacks are highly targeted, persistent, and technologically advanced.
Key Market Trends
BFSI is Expected to Hold Major Share
The financial sector generates a massive volume of data generated by its customers. Banks and financial organizations are increasingly employing services to store and analyze complex data to use the collected data through various data points and improve customer satisfaction. Additionally, with higher customer expectations, growing technological capabilities, and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security. This has resulted in incorporating cloud-based security platforms.
- Cloud-based email solutions can help reduce implementation time and costs for banks trying to keep pace with regulations regarding organizational access control. The data is exponentially growing, with an increase in the number of e-transactions. Email exchanges within this sector, among employees and customers, contain crucial valuable information that is rather lucrative and can result in a high gain for hackers. Moreover, organizations in the investment banking sector, which use emails as a primary mode of communication, both internally and externally, are taking measures to encrypt and limit eavesdropping and hacking of their email accounts.
- To secure their IT processes and systems, secure customer critical data, and comply with government regulations, private and public banking institutions are focused on implementing the latest technology to prevent cyberattacks. Furthermore, with higher customer expectations, growing technological capabilities, and regulatory requirements, banking institutions are pushed to adopt a proactive approach to security. Cybercriminals are increasingly using a sophisticated range of tactics. Denial of services, phishing email attacks, and social engineering are the most expensive attack types for financial services firms.
- Machine learning and Artificial Intelligence (AI) are expected to emerge as a most sought-out solution in the future, as cybercriminals are also using similar capabilities to break in. It is expected to attract more investments in strengthening security capabilities by the organizations to counter and mitigate such risks. Moreover, according to Cisco Systems, by 2021, 70% of public and private companies are expected to be using cloud email services. The access to email from anywhere and on any device states that it is essential for organizations to protect themselves from increasingly prevalent threats.
North America is Expected to Hold Major Share
North America is a primary hub for all the major organizations across the world. The expansion of the various end-user industries and the growth of IoT are driving the demand for smart devices and mobiles in the region. The risks of attacks that can impact the market vary from individuals and corporates to the governments. Thus, securing the data has become a priority in the region. Moreover, cyberattacks in the North American region, especially in the United States, are rising rapidly. They have reached an all-time high, primarily owing to the rapidly increasing number of connected devices in the region.
- In 2019, Americans lost more than USD 70,000 to Nigerian Prince Scams, according to 99 firms. According to Spamlaws, 26.5% of all unwanted emails are related to financial matters, the third biggest spam email category, and scams and frauds account for about 2.5 % of all spam emails, where identity theft is the goal of 73% of those. According to IBM, 59% of ransomware attacks are delivered via email. In 2019, many municipalities in the United States had recorded ransomware attacks, which have cost these companies a substantial recovery. For instance, Baltimore spent over USD 18.2 million in regaining its access to its connected systems. Also, 23 towns in Texas and two towns in Florida faced system lockdown due to ransomware recently.
- In October 2019, the three healthcare providers operated by DCH Health Systems in the country were attacked by ransomware strain known as Ryuk. All these healthcare centers have implemented emergency procedures to ensure their patients’ safety, and the company is working on the attack diagnosis. Such cyberattacks are expected to increase in the country across the domains, which may fuel the demand for cybersecurity solutions in the market. Ryuk’s ransom notes contain contact emails with the end @protonmail.com or @tutanota.com. The victim needs to send a message to determine how much they must pay for the decryption key.
- In September 2019, Avanan announced it had been granted a U.S. Patent for its API-based inline security threat prevention capability. This cloud-to-cloud solution shields email, file-sharing, and instant messaging from malware, data leakage, phishing, and other advanced threats. The company leverages its patented technology to work with built-in security and scan outbound, inbound, and internal email. The solution blocks malware, data loss, phishing, and insider threats. This approach allows the platform to take specific actions before malicious content reaches user inboxes and before sensitive data leaks.
Competitive Landscape
The global cloud-based email security market is entirely consolidated due to fewer players occupying the larger market share. The new players are trying to penetrate the established market. Some key players in the market are Cisco Systems Inc., Proofpoint Inc., Trend Micro Inc., and Fortinet Inc. Some recent developments in the market include:
February 2020 – Cisco Systems Inc. incorporated its security products into a single, cloud-native security platform called Cisco SecureX, which helps customers to strengthen security across all of their networks, endpoints, clouds, and application deployments. This increased visibility provides benefits to the customers, given the sheer size of Cisco’s security portfolio, which includes various firewalls, web and email services, malware protection, and intrusion detection systems.
- September 2019 – Proofpoint, Inc., announced a partnership and integration with CrowdStrike, a leader in cloud-delivered endpoint protection, to provide organizations worldwide with advanced threat protection across email and endpoints. In the initial combination, Proofpoint’s superior Targeted Attack Protection (TAP) security intelligence will feed threat intelligence on malicious email attachments into CrowdStrike Falcon to enhance device security and stop attackers.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of COVID-19 on the Market
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Adoption of Internet-of-Things (IoT) Technology
5.1.2 Reduced Capital Expenses and Faster Deployments
5.2 Market Restraints
5.2.1 Risk of Information Loss
6 MARKET SEGMENTATION
6.1 By Deployment Model
6.1.1 Public
6.1.2 Private
6.1.3 Hybrid
6.2 By End-user Industry
6.2.1 BFSI
6.2.2 Government
6.2.3 IT and Telecommunications
6.2.4 Retail
6.2.5 Other End-user Industries
6.3 Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia-Pacific
6.3.4 Latin America
6.3.5 Middle East & Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Cisco Systems Inc.
7.1.2 Proofpoint Inc.
7.1.3 Trend Micro Inc.
7.1.4 Fortinet Inc.
7.1.5 Forcepoint LLC
7.1.6 Broadcom Inc. (Symantec Corporation)
7.1.7 Mimecast Inc.
7.1.8 Sophos Group PLC
7.1.9 Dell Technologies Inc.
7.1.10 FireEye Inc.
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/fbn1ed
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
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Artificial Intelligence
Reliance Cyber and Google Cloud Security unite to transform cybersecurity for UK businesses
LONDON, May 28, 2024 /PRNewswire/ — Leading Managed Security Service Provider (MSSP), Reliance Cyber has been selected as one of only four MSSPs to partner with Google Cloud Security (GCS). This collaboration is set to make cybersecurity more effective and less complicated for businesses throughout the UK and Ireland.
Why this matters:In today’s complex security environment, businesses face a multitude of challenges, including escalating cyberattacks, an overwhelming number of security alerts, rising cybersecurity costs, and a critical shortage of skilled professionals. The partnership between Reliance Cyber and Google Cloud Security provides organisations with improved security postures through insightful, data-driven analytics, which underpin Reliance Cyber’s XDR service. For businesses facing diverse economic, social, and technological changes—such as the ongoing impacts of COVID-19, the transition to hybrid and remote work, rapid technological advancements like AI, and budget pressures from the cost of living crisis—this partnership represents a significant step forward. It enhances cybersecurity without the usual challenges of high costs, complexity, or the need for specialised staff. It’s about making world-class security simple and available to a wider audience.
What’s changing:
Support for growth: The partnership will expand the reach of state-of-the-art security services to more businesses, helping to protect organisations without the stress of financial and operational barriersEnhanced visibility, lower costs: Leveraging Google’s SOAR capabilities and Chronicle’s powerful telemetry, Reliance Cyber’s tailored ingestion approach means organisations can achieve enhanced visibility across their digital environments at a reduced cost. This approach enables proactive prevention and detection of threats, ensuring better security with less expenditure.Key benefits of the strategic partnership include:
AI and automation: Automation is at the core of Reliance Cyber’s offering. Every alert is enriched with threat intel from leading vendors, automatically correlated, and grouped into cases, reducing mean time to detect (MTTD) and mean time to respond (MTTR). Google’s additions enhance this with lower data ingestion costs, superior threat intelligence, curated detections, and advanced anomaly detection using machine learningSimplified security operations to support staff: Integration of Google Cloud’s SOAR capabilities simplifies the security management landscape, allowing CISOs to focus on strategic planning rather than daily operational hurdlesScalable security for business growth: The partnership supports business expansion strategies by providing scalable security solutions that grow with the company, crucial for organisations driving technological advancementData-driven insights for better decision-making: Boards will gain unparalleled visibility into their digital environments, fostering smarter, faster decision-making to preemptively address potential security threats.Rob Walton, Chief Revenue Officer at Reliance Cyber, on the transformative impact: “We’re thrilled to partner with Google Cloud Security. This partnership aligns perfectly with our mission to deliver comprehensive, advanced security services to the market, making top-level security accessible and manageable for businesses of all sizes. Ultimately, it’s about creating predictability and peace of mind in an area that can often cause businesses and their boards sleepless nights, particularly due to concerns about attacks and the financial constraints that dictate risk appetites.”
Do you want more coverage, at less cost, with zero compromises?
Enquire about a proof of concept. Visit: https://eu1.hubs.ly/H09bKtG0.
About Reliance Cyber
Since our founding in 2003, Reliance Cyber has established itself as a leading Managed Security Service Provider (MSSP). By combining deep cybersecurity expertise with a true partnership ethos, we enable organisations to concentrate on their core business.
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Artificial Intelligence
Eficode acquires Jodocus and reinforces Atlassian Cloud skills and Atlassian partnership in Germany
HELSINKI, May 28, 2024 /PRNewswire/ — Eficode has acquired Jodocus, the first cloud-native Atlassian Platinum partner in Germany. This acquisition further reinforces Eficode’s role as an Atlassian partner in Germany and expands its skills and services in Atlassian Cloud.
“Atlassian is moving to the Cloud, and the related know-how is essential to speed up this transition. Jodocus was originally the first Atlassian partner in Germany to focus fully on the Cloud. Their broad expertise in Atlassian tools and cloud migrations helps our customers in their journey to the cloud and complements our mission to build the future of software development,” says Ilari Nurmi, CEO of Eficode. “We welcome Jodocus’ employees and customers to Eficode.”
Founded in 2019, Jodocus is an Atlassian Platinum Solution Partner with extensive expertise in Atlassian Cloud. In addition to focusing on the Cloud, the Jodocus team offers support on business processes, Application Lifecycle Management, and DevOps. Their customer base is in Germany, with well-known names such as Otto Group and Fricke. Jodocus has 45 employees, and its revenue in 2023 was 11,5 million euros. “Together, Eficode and Jodocus will form a more significant entity and have even more international customers, which opens possibilities for deepening and broadening our relationship with our customers,” says Werner Krandick, CEO of Jodocus.
Eficode has enabled countless businesses with DevOps and digital transformation to adopt new technologies and practices to create software better. Its full spectrum of digital services can now be extended also to Jodocus’ customers. Eficode ROOT provides software development tools as a managed service in a Software-as-a-Service manner. In turn, with Total Support, we manage the tools and offer support, coaching, and mentoring for Atlassian solutions as a subscription.
In recent years, Eficode has grown strongly both organically and through acquisitions. Eficode’s compound annual growth (CAGR) during the previous four fiscal years has been 70%.
Media contactsIlari Nurmi, Chief Executive Officer, Eficode. [email protected], +358 40 577 5084 Lauri Palokangas, Chief Marketing Officer, Eficode. [email protected], +358 50 486 4918
This information was brought to you by Cision http://news.cision.com
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Artificial Intelligence
New first of its kind UK legal-tech recruitment platform aims to put an end to overseas worker scams
Unique UK-based legal technology platform, Immpact, helps unite the global talent market to fulfil UK skills shortages across healthcare, construction, engineering, life sciences and hospitality Immpact directly connects employers, recruiters and regulated legal experts with pre-qualified global talent – and aims to help eradicate profiteering job scammersREADING, England, May 28, 2024 /PRNewswire/ — A unique new legal-tech recruitment platform has launched in the UK to help put an end to overseas worker scams and directly connect UK employers and recruiters with pre-qualified overseas global talent. Immpact will help fulfil acute skills shortages across sectors including healthcare, construction, engineering, life sciences and hospitality, while ensuring full legal Home Office compliance.
The launch of Immpact follows over two years of advanced legal-tech development. Using the immigration law expertise of Founder and Managing Director, Jonathan Beech, and his team of specialists, the platform will help unite a previously disconnected global talent market with under-resourced UK employers and transform global workplace migration. Immpact has also been developed through discussions with hundreds of employers, industry bodies and overseas talent.
With job scams – from fake jobs to illegal fees for sponsor licences – ongoing, particularly in the social and healthcare sector, Immpact will ensure only pre-qualified talent, employers and recruitment firms are placed on its platform following stringent multi-layer checks. This will ensure that all jobs and talent are qualified and genuine along with thoroughly regulated employers and recruiters, to provide a global marketplace for talent.
Jonathan Beech, Founder and Managing Director of Immpact, said: “Through my existing business running Migrate UK, I’m acutely aware of the issues that UK employers and recruiters are having in trying to fulfil talent shortages across sectors such as care, healthcare and life sciences. I also regularly hear terrible stories of genuine overseas job hunters being ripped off in their home countries or the UK by job scammers, often running to thousands of pounds.
“I knew there had to be a better way to match pre-qualified overseas talent with genuine work opportunities and responsible UK employers – effectively a ‘talent’ match-making site which is designed to eradicate scammers to provide a global, trusted marketplace for talent.”
Following the latest government immigration rule changes, overseas recruitment costs are continuing to rise for businesses struggling with talent shortages. From 4 April 2024, the minimum salary for entering the new skilled visa worker route for the first time increased by 48%, from £26,200 to £38,700 a year. There are different rates for those already holding a skilled worker certificate of sponsorship prior to this date and discounts are available for key shortage roles on the Immigration Salary List (ISL).
Immpact will benefit employers and recruiters by saving them time and money. Working with recruitment experts to analyse existing overseas recruitment workflows, Immpact has calculated that it will save 50% of the time involved in managing overseas recruitment, helping to cut down the time-consuming filtering of applications traditionally needed.
For employers traditionally looking to recruit overseas applicants, previous data from industry recruitment software specialists show that 30% of overseas applications are rejected as they do not have the right to work, while 64% are rejected due to CVs being unclear or requirements not being met. This leaves just 6% of applications remaining, which results in about 2% then being interviewed. Immpact will automatically present only suitable pre-qualified applications to employers or recruiters, eradicating wasted time on unsuitable or unqualified applicants.
Beech continues: “Following thousands of hours of development and utilising the latest advanced technology which can adapt to evolving Home Office requirements and procedures, we’re proud to launch Immpact. Our unique new platform takes care of the entire process – from pre-qualifying processes, searching and shortlisting, down to arranging interviews, successful appointments, onboarding, the provision of regular content and guidance, and access to regulated immigration legal professionals.
“Our new technology will transform global migration for both UK organisations and businesses struggling to recruit and global talent looking to work in the UK. Immpact has been thoroughly tested at every stage and is both user-friendly and, crucially, compliant, so qualified overseas applicants and UK employers and recruiters can be confident that only genuine UK jobs and overseas applicants match and proceed. Quite simply, we want Immpact to simplify the whole migration process by putting the right talent in the right place at the right time, and for UK employers to fulfil critical talent shortages which will help them not only survive, but thrive.”
The platform has a free trial or low-cost subscriber options for search-matching and more for employers and recruiters. For talent, the platform has zero costs for creating a profile, using the pre-qualifying tools or searching for opportunities. For further information visit www.immpact.ai.
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