GSaaS: The Changing Dynamics of Cybersecurity

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The cybersecurity space has now almost become synonymous with the internet due to changing dynamics. Internet services are becoming integrated faster than before, increasing the sophistication of IT systems and cloud services. Such integrated and sophisticated systems generate a huge amount of data that must be protected at all costs. As per an Identity Theft Awareness Week report, there has been an incredible surge — 394,280 in government benefits fraud in 2020.

The present scenarios have necessitated the use of data security tools leading to the emergence of Global Security as a Service (GSaaS). It can best be described as outsourcing of cybersecurity services in a cloud-delivered model. Due to the increasing volume of cyber-attacks, the global security as a service solution has gained incredible popularity in the corporate infrastructure. 

Emerging Groundbreaking Technologies

Increasing cyber-attacks are providing ground for the development of robust data security solutions. As a result, the following disruptive technologies have gained traction and are transforming the cybersecurity landscape. 

1. Cloud Computing

Inexpensive and affordable data security is one of the desirable characteristics of disruptive cyber technology. With the emergence of cloud computing, companies now have easy access to premium supercomputers. Moreover, cloud computing provides greater market possibilities to small businesses.

2. Artificial Intelligence

Tracking data security breaches is a daunting task resulting in loss of time and money. As a result, security service providers have been incorporating artificial intelligence to detect and prevent cyber-attacks. Artificial intelligence (AI) as a data security tool enables threat identification and prioritization. AI regularly improvises its understanding of cybersecurity threats through machine learning and natural language processing.

3. Internet of Things (IoT)

Focusing on safeguarding connected devices, IoT is a significant trend in the cybersecurity space. It facilitates the automatic transfer of data over the internet with a unique identifier for every device. The convenience of IoT has increased its use in consumer and business segments manifold. However, the augmented presence of IoT devices in our lives has provoked concern for data security. IoT has certain inherent issues that security service providers can overcome.

Key Factors Driving the Growth of GSaaS

Global Security as a Service will grow at a compound annual growth rate of 18.9% by 2025. The following factors will influence this rapid growth.

1. Mandatory Compliance

Many organizations around the world have been facing massive financial losses due to increasingly complex cyber-attacks. To tackle this problem, organizations are looking forward to implementing cutting-edge data security tools. They also have to comply with existing data protection laws.

Global Security as a service provider (GSaaS) helps these organizations adhere to these data security standards and laws. Federal Information Security Management Act (FISMA), Payment Card Industry Data Security Standard (PCI DSS), and Homeland Security Act (HAS) are a few important laws. The requirement to comply with these laws has driven the growth of security service providers.

2. High Cost of On-premise Security

Setting up traditional on-premise security software requires millions of dollars to be spent. Moreover, huge investments are required for upgrades and maintenance, involving hardware and software expenses that add up as extra costs. 

Conversely, the companies have to pay a single subscription fee to secure service providers while handling all other costs. GSaaS as a service delivers a secure environment all in one package at an affordable subscription fee.

3. Demand for Cloud-based Security

During the current COVID-19 pandemic, digital ways of doing business have become the new normal. The shift to home working and increased internet penetration around the globe have forced individuals to incline towards cloud solutions. Cloud security helps businesses ensure continuity and safety from the threat of cyber-attacks. 

Benefits of Implementing Security as a Service

Security service providers have gained popularity due to the protection offered to businesses at a granular level. Moreover, a single service provides several data security solutions outweighing the fear of handing over the most sensitive business assets. Here are a few significant advantages of GSaaS.

● External management of security frees up the resources of the company’s IT team.

● Implementation of these services comes with the convenience of scalability as the services are provided on demand.

● GSaaS solutions equip the workspace with the latest data security tools and resources, and updates of each component are automated.

● The most significant benefit of the security service model is considerable cost savings for the company. The reduction in costs allows funds to be diverted to appropriate resources.

Wrapping Up

The GSaaS model will continue to grow in areas such as financial services, defense enterprises and IT and telecom, etc. With these current trends, GSaaS is the only way forward as it will shape enterprises' future data security. 

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