Prescriptive Security Market Emerges as the Next Frontier in Cyber Defense

The banking, financial services, and insurance (BFSI) is growing at a very fast pace. The number of transactions are on the rise, owing to growth in customer base and people performing transactions from mobile devices and tablets. Furthermore, the BFSI sector is expected to boost the prescriptive security as these services help to detect and prevent suspicious mobile payments before they are initiated and provide other security measures, which would encourage the BFSI sector to adopt these services.

Organizations have moved to prescriptive security from reactive analysis to prepare well before any threat or risk. Prescriptive security uses machine learning to identify patterns in data that might indicate attack in progress or zero-day threat. Automation is deployed and prescriptive security services can analyze bulk data gathered over long time and can predict risks early. Prescriptive security services are widely adopted by the financial sector, which boosts its market growth. By analyzing all financial data, it gives precised view whether a payment is suspicious and helps to detect a threat or risk.

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COVID-19 Scenario Analysis:

► Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost all countries around the globe, with the WHO declaring it a public health emergency. The global impacts of the disease are already starting to be felt, and expected to significantly affect the global prescriptive security market in 2020.

► Owing to worldwide lockdown, businesses have shifted to online mode for their operations, which have also increased the threat of cybercrimes. Prescriptive security services help to detect weak signals and predict risks by rapidly analyzing the data.

► Overall, the pandemic is expected to have no major impact on the global prescriptive security market.

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Increase in safety concerns and security threats, owing to rise in digitalization across the globe boosts growth of the market. However, costly implementation, government regulations, and data protection issues hamper the market growth. Furthermore, growth in adoption of various advance technologies such as cloud, artificial intelligence, and internet of things (IoT) is expected to provide lucrative opportunities for the global prescriptive security market.

Key benefits of the report:

► This study presents analytical depiction of the global prescriptive security market along with the current trends and future estimations to determine the imminent investment pockets.

► The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the prescriptive security market share.

► The current market is quantitatively analyzed to highlight the global prescriptive security market growth scenario.

► Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.

► The report provides a detailed prescriptive security market analysis based on competitive intensity and how the competition will take shape in coming years.

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North America is expected to dominate the market, owing to presence of developed economies such as the U.S. and Canada in the region. These countries heavily invest in new technologies and research and developments. Enterprises and governments in the region are adopting prescriptive security solutions to predict risks before they occur, which drives the market growth.

Key Market Players:

► Splunk Inc.

► Cisco System Inc.

► Hexagon

► NEC Corporation

► ATOS

► ESRI

► IBM

► Nice Systems Ltd.

► Verint Systems Inc.

► SAP ERP

► SAS Institute Inc.

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