Corporate
Web Security

The Need for

Corporate Web Security

Companies nowadays have recently experienced several cyberattacks in their websites, resulting in a significant loss of customer data and a damaged reputation. These companies are now concerned about the security of their website and the potential for future attacks. The companies can implement corporate web security measures to improve their website's security and protect against future cyberattacks. This can include the installation of web application firewalls, SSL/TLS encryption, and regular vulnerability scanning and penetration testing. Additionally, the companies can implement employee training programs to educate staff on safe web browsing habits and best practices for identifying and reporting potential security threats. By taking these steps, the companies can significantly reduce the risk of cyberattacks and safeguard both their customer data and their reputation.

The entire world is getting digitalized. The internet is penetrating the lives of people and processes like never before. There is a growing demand for automation in every field. Organizations are increasingly incorporating the use of the cloud and the internet of things in their ecosystems. All of it is leading to the massive production of data- big and small which needs to be significantly managed, stored, retrieved, and used for efficient decision-making and growth. Apart from this, the introduction of digital technologies by enterprises to change their business model and generate new revenue opportunities has opened scopes for malware attacks, ransomware, phishing, password attacks, and other cyber threats. Accidental access to malicious files and websites can cause unforeseen disruption. There is a need to safeguard and protect important information from getting stolen, lost, corrupted, or compromised and at the same time protect the organization from security threats and unauthorized access. Hence, for business continuity and to protecting data, its users, and companies from security risks, web security is very critical.

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Key Features Provided by

Corporate Web Security

Corporate web security vendors provide integrated robust features that can detect possible threats to a compromised site at the earliest. They are listed as follows-

• Malware Detection
• URL Filtering
• Reporting
• Web Application Controls
• SSL Scanning
• Data Loss Prevention(DLP)
• Cloud Access Security Broker(CASB)
• Remote Browser Isolation (RBI)
• Sandboxing Technology
• Social Networking Controls
• Threat Intelligence Networks

In addition to the above, vendors also provide additional capabilities such as bandwidth controls, unified hybrid administration, directory integration, etc. Organizations deploying web security services from the vendors also keep in mind their pricing models, professional services provided by them, customer support, and responsiveness.

The trends positively impacting the market growth of corporate web security are:

• The growing number of digitally connected devices- In 2022, the market for the Internet of Things is expected to grow by 18% to reach 14.4 billion active connections. It is expected that by 2025, there will be approximately 27 billion connected IoT devices resulting in higher security risks.
• The increasing number of data thefts and breaches- According to a study, there were 5,126,930,507 breached records in 2021 in the UK alone. As per the World Bank, every month 10.5 million records are lost or stolen
• The growing number of cyber- attacks including ransomware in various sectors- Ransomware is one of the top concerns in cyber security. It is relatively highest in healthcare organizations and in countries such as the United States and Europe. As per a study, the average payment in a ransomware attack increased by 71% in 2022 to reach USD 925,162.
• The rising average cost per data loss and ransomware- As per estimates, the average cost per data breach is increasing. It was approximately USD 4.35 million in 2022 as compared to USD 4.24 million in 2021. In 2023, globally ransomware is projected to cost USD 30 billion.
• Growing awareness among organizations for the need for web security- Large as well as Small and medium-sized enterprise have become aware of the practical benefits of incorporating web security applications in their ecosystems.

The trends negatively affecting the market growth

• High investments associated with incorporating advanced web security.
• Increasing incidences of bugs and unanticipated software crashes.
• Lack of awareness among people regarding the benefits of corporate web security.

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Corporate Web Security Market

Outlook and Future Scope

The global corporate web security market was valued at around USD 4.6 billion in 2021. Growing at a CAGR of ~7% during the forecast period 2023-2035, the market is estimated to generate a revenue of nearly USD 8 billion by the end of 2035. The market is expected to experience significant growth in the coming years, as businesses increasingly rely on digital platforms to operate and communicate with customers. With the rise in cyber threats and the increasing importance of protecting sensitive data, companies are investing in corporate web security solutions to safeguard their web assets from cyberattacks.

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Corporate Web Solutions

Market Classifications

• On the basis of solutions, the corporate web security market is segmented into appliance services, cloud-based services, on-premises services, and hybrid solutions. Amongst them, cloud and hybrid web security solutions are seeing significant adoption. An initial hybrid deployment finally leads to a fully cloud-based solution or helps to accommodate different requirements from various parts of the organization (e.g. headquarters vs. roaming workforces).
• On the basis of industry verticals, the corporate web security market is classified into IT and telecommunication, government public utilities, healthcare, life sciences, and others.
  Healthcare enterprises hold crucial patient information such as names, phone numbers, insurance details, medical records, biometric data, etc. Apart from that, there are payment details, and bank account numbers of patients. They are at a high risk of being breached or stolen. Hence, healthcare firms are shifting toward web security solutions and adopting zero-trust digital security in their internal and external operations.

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Corporate Web Solution

Trends in the Asia Pacific

In the Asia Pacific region, the demand for corporate web security solutions is expected to experience particularly strong growth owing to several trends, including:

Corporate Web Solution

Trends in North America

North America is known to be the hub of multi-national companies and the region has a booming IT sector. In addition, the existence of prominent companies providing cloud computing technologies is increasing the demand for cloud-based applications and consequently producing huge volumes of data. In 2022, according to a report, there were approximately 17,000 software-as-a-service (SaaS) companies in the United States. Jointly, they had around 59 billion customers worldwide. All of these depend upon adequate data security solutions and protection. In addition, ransomware attacks are rampantly growing. The U.S. is one of the biggest targets for ransomware attacks.

As per a report, ransomware attacks

More than 4000 ransomware attacks have happened daily in the United States since 2016.

Organizations in the U.S. are significantly incorporating web security solutions in their operations. Moreover, the presence of key players such as Cisco, Symantec, and others is further boosting the demand for these security solutions in the region.

Corporate Web Solution: Recent Trends

• BT, one of the world’s leading providers of communications services and solutions, and Symantec, the world’s leading cyber security company, have entered into a partnership to launch the new endpoint protection solution for BT’s business customers. With the addition of Symantec’s security technologies to BT’s broad portfolio of security products and services, customers can have a consolidated, intelligent security infrastructure to deal with the rapidly changing threat landscape.
• Barracuda Networks has announced the full integration of Barracuda Email Protection with Amazon Security Lake from Amazon Web Services [AWS] and hence extended its long-term partnership with AWS. This collaboration has reduced the complexity and costs for customers to access their security data from an email security solution and address a variety of security use cases such as threat detection, investigation, and incident response.
• Trend Micro Incorporated has established CTOne, a new Trend Micro subsidiary that will safeguard organizations in all 5G network environments.

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