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File Integrity Monitoring Market Trends, Market Share, Size, Growth Status And Forecast To 2033
File Integrity Monitoring Market Trends
According to The Business Research Company's, The file integrity monitoring market size has grown rapidly in recent years. It will grow from $0.92 billion in 2023 to $1.07 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. The growth in the historic period can be attributed to a rise in the demand for cloud computing, increasing threats to IT infrastructure, data privacy concerns, increased awareness and adoption of security technologies, and data breach prevention.
The file integrity monitoring market size is expected to see rapid growth in the next few years. It will grow to $1.91 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to growing threats to the organization's data, the increasing adoption of Internet of Things (IoT) devices, the increasing sophistication of cyber-attacks, the rising number of cross-border terrorist activities, and growing remote work trends. Major trends in the forecast period include the adoption of cloud-based FIM solutions, Integration of artificial intelligence (AI), machine learning (ML), focus on real-time detection and response, and endpoint detection and response (EDR) solutions.
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Market Drivers and Trends:
The rising number of cybercrime cases is expected to propel the growth of the file integrity monitoring market going forward. Cybercrime cases encompass criminal activities committed using digital technologies or the internet, such as hacking, phishing, identity theft, malware distribution, and online fraud. Cybercrime cases are increasing due to the growing reliance on digital technologies, expanded connectivity, and the emergence of sophisticated cybercriminal tactics. File integrity monitoring is crucial in detecting and mitigating cyberattacks by providing real-time alerts on unauthorized changes to critical files and configurations, helping prevent data breaches, and maintaining system integrity. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the 2021-22 financial year saw over 76,000 cybercrime reports in Australia, a 13% rise from 2020. Further, on average, a cybercrime report is lodged approximately every 7 minutes, up from one report every 8 minutes in 2020-21. Therefore, the rising number of cybercrime cases is driving the growth of the file integrity monitoring market.
Major companies operating in the fixed mobile convergence market are focused on developing advanced solutions, such as cloud-based unified communications platforms, to enhance communication and collaboration for businesses. A cloud-based unified communication platform refers to a comprehensive communication solution hosted in the cloud that integrates fixed-line and mobile communication services onto a single, unified platform. This platform enables users to access a wide range of communication tools and services seamlessly across fixed and mobile networks. For instance, in April 2023, Vodafone Idea Limited, an India-based mobile network operator company, in partnership with RingCentral Inc., a US-based provider of cloud-based communication and collaboration products and services, launched Vodafone Business Unified Communications (UC), a new unified communications solution in Italy to support hybrid working. The platform provides analytics and reporting tools that enable businesses to analyze usage, evaluate call quality, and discover areas for development. It is accessible from any device with an internet connection without the need to download an additional application, making it suitable for remote or hybrid teams. Also, it offers multiple levels of enterprise-grade security and satisfies local and international data regulations.
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Major Key Players of the Market:
AT&T Cybersecurity, VMware LLC, Fortinet Inc., Splunk Inc., Micro Focus International plc, McAfee LLC, Trend Micro Incorporated, CrowdStrike Holdings Inc., ManageEngine, HelpSystems, SolarWinds Worldwide LLC, Rapid7 Inc., Qualys Inc., Varonis Systems Inc., Trustwave Holdings Inc., LogRhythm Inc., Alert Logic Inc., Lacework, Netwrix Corporation, Paessler AG, Sophos Ltd., UpGuard Inc., New Net Technologies LLC, Cimcor Inc., ATOMICORP
File Integrity Monitoring Market 2024 Key Insights:
• The file integrity monitoring market size is expected to see rapid growth in the next few years. It will grow to $1.91 billion in 2028 at a compound annual growth rate (CAGR) of 15.7%.
• Cybercrime Surge Fuels The Growth Of The File Integrity Monitoring Market
• Emergence Of Advanced Threat Intelligence Monitoring Solutions In The File Integrity Monitoring Market
• North America was the largest region in the file integrity monitoring market in 2023
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