Enterprises in the Asia-Pacific region (including Japan) are prioritising the protection of sensitive data in the face of increasingly complex cyber threats, according to a recent report from Frost & Sullivan.
According to the report titled 'Analysis of the Asia-Pacific (including Japan) Data Loss Protection Market', as business and IT converge, enterprises will be more motivated to invest in technologies to help protect their virtual assets.
So if you've been considering whether your organisation needs a better vulnerability management plan, now may be the time to start acting on your intentions.
Results show that the data loss protection (DLP) market earned revenues of over $84.9 million during the last year, and the growth is expected to continue to reach $169.1 million in 2014.
However, the report also says that companies in several countries (such as Japan, South Korea and Australia) see DLP technologies as a "work in progress" and are unclear as to their functionality, which leads them to hedge their bets and delay their uptake of these technologies.
In addition, many companies in the Asia-Pacific region are focusing more on curbing their spending and taking a cautious approach to business activities, which may also be a factor in whether DLP technologies are successfully implemented by organisations.
"Government regulations to resolve data protection and security issues have forced companies across Asia-Pacific to adopt DLP technologies," Frost & Sullivan ICT research analyst Vu Anh Tien said in an April 17 statement.
"A growing number of mergers and acquisitions have expanded enterprise operations in the region, requiring added investments in DLP systems."
According to Frost & Sullivan, the rising popularity of technology trends such as cloud computing and mobile computing will also be a factor in the process, encouraging companies to "speed up" their installation and implementation of various secure content management technologies.
The consequences of suffering a data loss can be devastating for any company – particularly when sensitive financial data or customer information is breached.
Security and trust are vital in maintaining long-lasting consumer relationships, so if your firm receives payment card data from customers, it is important to comply with the payment card industry data security standard, otherwise known as PCI DSS.
The PCI Security Standards Council offers a set of comprehensive standards and guidelines for enhancing payment card data security, so there's no excuse for poor compliance.
By undertaking a security audit, you can assess the level of compliance in your own company and develop a more robust security policy.