Connect with us

Technology

Data Security Market to Grow by USD 3.87 Billion from 2023-2027, AI and Strict Data Protection Regulations Drive Transformation – Technavio Report

Published

on

NEW YORK, Sept. 6, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global data security market size is estimated to grow by USD 3.86 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of over 14.8% during the forecast period. Stringent regulations regarding data protection is driving market growth, with a trend towards Increasing focus toward data security automation. However, system integration and interoperability issues poses a challenge. Key market players include Amazon.com Inc., Broadcom Inc., Centrify Corp., Cisco Systems Inc., Cloudera Inc., Fortinet Inc., Hewlett Packard Enterprise Co., Imperva Inc., International Business Machines Corp., McAfee LLC, Microsoft Corp., NetApp Inc., Oracle Corp., Palo Alto Networks Inc., Proofpoint Inc., Sirius Computer Solutions Inc., Sophos Ltd., Thales Group, Varonis Systems Inc., and Zscaler Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Data Security Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017 – 2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 14.8%

Market growth 2023-2027

USD 3866.29 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

14.56

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 33%

Key countries

US, China, Japan, Germany, and UK

Key companies profiled

Amazon.com Inc., Broadcom Inc., Centrify Corp., Cisco Systems Inc., Cloudera Inc., Fortinet Inc., Hewlett Packard Enterprise Co., Imperva Inc., International Business Machines Corp., McAfee LLC, Microsoft Corp., NetApp Inc., Oracle Corp., Palo Alto Networks Inc., Proofpoint Inc., Sirius Computer Solutions Inc., Sophos Ltd., Thales Group, Varonis Systems Inc., and Zscaler Inc.

Market Driver

Data automation is revolutionizing the tech sector, including data security. Automation in data security refers to the use of technology to perform repetitive data security tasks. This trend is gaining popularity due to the increasing complexity of cyberattacks and the understaffed data security teams in organizations. Data security automation tools and platforms can assist in managing hardware and software assets, conducting vulnerability assessments, monitoring data, maintaining asset conditions, and patching systems. By automating these tasks, organizations can improve efficiency, reduce workload, and focus on the business impact of data security solutions. The adoption of data security automation is expected to drive the growth of the global data security market. 

The Data Security Market is experiencing significant growth due to the increasing volumes of digital data and the expanding use of information applications. Cybercrimes, including money theft, lost property, and intellectual property theft, pose a major threat to businesses and individuals. Digitalization trends, such as the proliferation of digital devices, the Internet of Things, and cloud computing, add to the complexity of data security. Data auditing, real-time alerts, risk assessment, and minimization are essential practices to mitigate data breaches. CSIS reports reveal an exponential trend in cyberattacks, with viruses, phishing attempts, and endpoint protection being key concerns. IoT devices, SPDI rules, mobile technology, social media, and Simple Storage Service are also areas of focus. Industry associations, national statistical offices, security organizations, and government entities are collaborating to enhance cybersecurity. Forecasting techniques, including internet penetration and forecasting techniques like exponential trend smoothing, are used to anticipate cyber threats. VPN, AI, and ML are emerging technologies that offer enhanced security solutions. B2C, B2B, and B2G sectors are investing in security testing, Mobile Device Management, and VAT to safeguard their financial statements. Cybersecurity is a critical business priority in today’s digital world. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

The integration of data security solutions into various industry verticals, such as BFSI, telecom, transportation, and public- sector firms, is on the rise. However, this trend brings about system integration and interoperability challenges. Organizations often face difficulties in integrating multiple data security systems with their existing IT infrastructure. Technical issues during operations can lead to significant costs and reduced operational efficiencies. Vendors must address these concerns by providing unified data security solutions that can easily integrate with existing systems. Customization of data security solutions can be costly, making it difficult for vendors to cater to individual organization’s unique requirements. Seamless integration of multiple data security systems is crucial to avoid cross-platform issues and ensure the market’s continued growth. Vendors must conduct thorough trials before introducing new solutions to mitigate technical glitches and hacking risks.The Data Security market is expanding rapidly due to increasing challenges in safeguarding sensitive information for Business-to-Consumer (B2C), Business-to-Business (B2B), and Business-to-Government (B2G) transactions. Cyberattacks, VAT fraud, and data thefts pose significant risks to financial statements and business continuity. Industry associations, national statistical offices, and security organizations work together to address these issues. Challenges include cyberattacks, VAT fraud, and data breaches affecting financial statements and business continuity. B2C, B2B, and B2G sectors face these risks. SMEs, PII, IT infrastructure, and Cloud solutions are primary concerns. Next-Generation Firewalls, Advanced Threat Protection, and Endpoint security are essential tools. Cyber hygiene practices, Targeted attacks, Business Continuity Plan, and Sensitive data protection are crucial. Global organizations, regulatory authorities, and emerging startups grapple with data ingestion, structured and unstructured data, Cloud deployment, and On-premises deployment. Financial loss, intellectual property loss, competitive advantages, and business disruption are potential consequences. Financial capabilities and IT security infrastructure are key factors. AI, ML, VPN, and Next-Generation Firewalls are essential technologies. Regulatory compliance and cybersecurity best practices are essential.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This data security market report extensively covers market segmentation by

Deployment1.1 On-premises1.2 Cloud-basedType2.1 Large enterprise2.2 SMEGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

 

1.1 On-premises- The Data Security Market is a significant business sector that focuses on safeguarding digital information from unauthorized access, use, disclosure, disruption, modification, or destruction. Companies invest in data security solutions to protect sensitive data, maintain customer trust, and comply with regulations. Growth in digital transformation and increasing cyber threats drive market expansion. Key players include IBM, Cisco, Microsoft, and Symantec.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The Data Security market is a critical segment of the technology industry, focusing on safeguarding digital information from cyberattacks for Business-to-Consumer (B2C), Business-to-Business (B2B), and Business-to-Government (B2G) sectors. With the increasing use of technology and the internet, the market’s significance continues to grow. Value-Added Tax (VAT) offices and national statistical offices are also key stakeholders in ensuring data security for financial statements. Cybercrimes, including Odinaff, Danabot, Camubot, Backswap, and others, pose significant threats to data security. Security organizations play a vital role in mitigating these risks through Next-Generation Firewalls, Advanced Threat Protection, Artificial Intelligence (AI), and Machine Learning (ML) solutions. Small and Medium-sized Enterprises (SMEs) are increasingly targeted, making it essential to secure PII and IT infrastructure. Cloud solutions and Information applications are also significant areas of focus, as data volumes continue to grow. Industry associations are crucial in setting standards and best practices for data security. Virtual Private Networks (VPNs) are also essential tools for secure data transmission.

Market Research Overview

The Data Security market is a dynamic and evolving industry that encompasses various sectors including B2C, B2B, B2G, and large enterprises. With the increasing use of technology and digitalization trends, the market is witnessing an exponential trend in cyberattacks, data thefts, identity thefts, and business disruptions. VAT, industry associations, national statistical offices, and security organizations play crucial roles in data security. Cybersecurity threats come in various forms, such as financial statements manipulation, targeted attacks, and data breaches. SMEs, PII, IT infrastructure, Cloud solutions, Endpoint security, and Cyber hygiene practices are key areas of focus. Next-Generation Firewalls, Advanced Threat Protection, and AI, ML are essential tools for securing data. Data volumes continue to grow, driven by digital data generation from various sources, including the Internet of Things, digital devices, and social media. Data Auditing, Data Real-time Alerts, and Data risk assessment are crucial for identifying and mitigating risks. Data minimization, Breaches, Capital loss, Intellectual property loss, and Business Continuity Plan are significant concerns for organizations. Regulatory authorities play a vital role in enforcing data security regulations and compliance. Digitalization trends, such as Cloud deployment and On-premises deployment, require robust IT security infrastructure. Cybercrimes, including money theft, lost property, and intellectual property theft, pose significant risks to organizations. VPN, SPDI Rules, Simple Storage Service, Syxsense, Mobile Device Management, and other security solutions are essential for securing data in various deployment models. Cybercrimes continue to evolve, necessitating the need for advanced security solutions and continuous security testing.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentOn-premisesCloud-basedTypeLarge EnterpriseSMEGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/data-security-market-to-grow-by-usd-3-87-billion-from-2023-2027–ai-and-strict-data-protection-regulations-drive-transformation–technavio-report-302239739.html

SOURCE Technavio

Continue Reading

Technology

JinkoSolar Announces Results of 2026 Annual General Meeting

Published

on

By

SHANGRAO, China, Oct. 21, 2026 /PRNewswire/ — JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE: JKS), today announced that all shareholders resolutions proposed at the Company’s 2026 annual general meeting held today were duly passed.

Specifically, the Company’s shareholders passed the following ordinary resolutions approving:

1. The re-election of Mr. Gang Chu as an independent director of the Company;
2. The re-election of Mr. Steven Markscheid as an independent director of the Company;
3. The ratification of the appointment of PricewaterhouseCoopers Zhong Tian LLP as auditors of the Company for the fiscal year of 2026;
4. The authorization of the directors of the Company to determine the remuneration of the auditors of the Company; and
5. The authorization of each of the directors of the Company to take any and all action that might be necessary to effect the foregoing resolutions 1 to 4 and resolutions 6 to 7 set out below as such director, in his or her absolute discretion, thinks fit.

The Company’s shareholders also passed the following special resolutions approving:

6. The change of the English name of the Company from “JinkoSolar Holding Co., Ltd.” to “Jinko Holdings Limited”; and
7. The adoption of “晶科控股有限公司” as the dual foreign name of the Company.

 About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a holding company combining clean energy industrial operations and strategic investment in emerging technologies. Its industrial foundation is a controlling interest in Jinko Solar Co., Ltd. (SSE: 688223), a global leader in clean energy technology. The Company makes disciplined strategic investments in renewable energy, advanced materials, artificial intelligence, commercial space and other frontier technologies, drawing on its industrial experience and its ability to identify emerging technologies and bring them to commercial scale.

Through Jinko Solar Co., Ltd., the Company distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar has over 10 production facilities globally, over 20 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, and other countries, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of June 30, 2026.

For investor and media inquiries, please contact:

In China:

Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: ir@jinkosolar.com 

Mr. Christian Arnell
Christensen
Tel: +852 2117 0861
Email: christian.arnell@christensencomms.com 

In the U.S.:

Email: jinko@christensencomms.com 

View original content:https://www.prnewswire.com/news-releases/jinkosolar-announces-results-of-2026-annual-general-meeting-302914898.html

SOURCE JinkoSolar Holding Co., Ltd.

Continue Reading

Technology

Price still dominates car buying in US and Europe, while China puts technology first–Bain & Company survey

Published

on

By

Dealers stay important: More than 80% of car buyers globally now combine online and offline channels, yet nine in 10 still complete their purchase at dealersAI is reshaping car-buying journey in all markets – more than 60% of younger buyers use AI when deciding on their next carConsumers who have test-driven a battery electric vehicle are up to 2.2 times as willing to consider buying oneCustomer loyalty is decreasing – more than a third of customers in Western markets are open to new brands entering the market Autonomous-driving technology could challenge traditional brand loyalty, with consumers willing to switch brands for better functionality

BOSTON and MUNICH, Oct. 21, 2026 /PRNewswire/ — New technologies, including AI, are changing how consumers research and choose cars around the globe. Brand loyalty is decreasing and price continues to play a powerful role in purchasing decisions in the US and Europe, but less so for Chinese buyers, as new research released today by Bain & Company finds.

Bain’s new Global Automotive Consumer Survey, based on responses from more than 12,000 car buyers worldwide*, finds price remains the top consideration when buying a car in the US and Europe, cited by 68% and 62% of consumers respectively, while technology and features (58%) rank ahead of price in China. Loyalty to established automakers also varies considerably: US buyers remain the most committed, while newer Chinese brands are entering consideration in Europe.

The findings come as legacy automakers face weak industry growth and continued pressure on profitability, alongside rapid advances in electrification, artificial intelligence and autonomous driving.

“The car-buying journey is changing quickly, but what stands out is how differently consumers across the globe are responding to that change,” said Klaus Stricker, leader of Bain’s Global Automotive & Mobility practice. “Technology can be a powerful differentiator for some buyers, while for others, price and brand remain decisive. We find that car buyers are increasingly using AI to compare brands, models and options.”

Digital car buying accelerates, but dealerships remain critical

The way consumers choose cars has become increasingly digital. Bain finds that more than 80% of respondents globally now combine online and offline interactions during the purchase journey, while more than six in 10 start the buying process online. China is further ahead, with 95% using both online and physical channels and more than eight in 10 willing to consider completing their purchase online.

But greater use of digital channels has not diminished the importance of the physical dealership. Nine in 10 consumers globally still complete their purchase offline, and more than half of buyers in Europe, the US and China have at least two interactions with dealers along the way.

Artificial intelligence is also reshaping how consumers research and compare cars. AI is already widely used by car buyers across several Asian markets and UAE, reaching more than 90% in Indonesia and close to 80% across age groups in China. In Japan, Europe and the US, adoption is more concentrated among younger buyers, with 52%, 61% and 55% respectively using AI, more than twice the share of older consumers.

Younger consumers drive BEV interest, but barriers to wider adoption remain

Consumer interest in battery electric vehicles (BEVs) is strong, particularly among younger buyers, the survey finds. Younger consumers (Generations Y and Z) in general are more likely to buy BEVs, but in China, willingness to buy BEVs is high across both younger and older generations.

For consumers still reluctant to buy a BEV, cost and charging remain the biggest sticking points. In the US and Europe, around six in 10 are unwilling to pay more for a BEV than for a comparable combustion-engine car, while almost half cite charging times as a concern. Bain concludes that closing the price gap and making charging more convenient will be critical to persuading more consumers to make the switch.

Bain cites an example in Germany where BEV-buying decisions shifted once price parity narrowed. In August 2026, BEV registrations jumped 75% year-on-year to reach around 32% of new car sales. New government incentives and rising fuel prices drove the change – in addition to new strong BEV models entering the market.

Getting more buyers behind the wheel provides another lever. Consumers who have already test-driven a BEV are up to 2.2 times more willing to consider purchasing one than those who have not. Yet mass-market buyers in Europe and the US are less likely to have tried a BEV, compared to premium buyers. With many potential buyers yet to try one, making test-drives easier to access could be one of the most effective ways for automakers and dealers to encourage wider BEV adoption.

Autonomous driving could challenge traditional brand loyalty

Appetite for autonomous-driving technology is substantially stronger in China and several Asian and Middle Eastern markets than in Europe and the US, Bain finds. Some 84% of Chinese consumers would consider buying a vehicle offering at least Level 3 (L3) autonomy, compared with 47% in Europe and 40% in the US. L3 allows a car to drive itself under certain conditions but requires the driver to take over when prompted. Interest is even higher in the UAE, India and Indonesia.

Greater interest in autonomous driving could also weaken traditional brand loyalty. Consumers most interested in the technology are more willing to switch manufacturers for better functionality, with premium buyers in Europe and the US particularly open to changing brands. In China, willingness to switch is more widespread. For automakers, better autonomous-driving functionality could therefore become an increasingly important way to attract customers from competitors.

“Technology is now part of the reason customers choose one manufacturer over another,” Stricker added. “That raises the stakes for automakers. Brands need to understand where customers are willing to pay for innovation, where affordability remains the overriding consideration, and where better technology could be enough to persuade a customer to switch. That requires a much more precise understanding of what different customers value.”

*Markets included in the survey: Canada, US, UK, Germany, France, Italy, UAE, China, India, Indonesia, and Japan. 

Media contacts:
Ann Lee (Singapore) — ann.lee@bain.com
Gary Duncan (London) — gary.duncan@bain.com
Dan Pinkney (Boston) — dan.pinkney@bain.com 

About Bain & Company

Bain & Company works with leaders worldwide to solve their toughest challenges and deliver enduring results. Since 1973, we’ve partnered with clients, including private equity and portfolio companies, to build the capabilities they need to stay ahead of change and help them redefine their industries. We measure our success by our clients’ success, and we proudly hold the highest levels of client advocacy in our field.

Bain is consistently recognized globally as one of the best places to work. We operate as one global team, uniting strategists, industry and functional experts, technologists, and advisors with a vibrant ecosystem of technology partners.

Notes to Editors 

Bain & Company was founded in 1973 and today has 19,000 employees across 67 cities in 40 countries. We have worked with more than two-thirds of the Global 500 and more than 9,000 companies worldwide. Bain has pledged to deliver $2 billion in pro bono consulting to nonprofit, public sector, and charitable organizations by 2035. The firm is consistently recognized as a Leader in major analyst rankings across multiple areas, including digital business, innovation, strategy, experience design, customer experience, and carbon-zero transformation.

View original content to download multimedia:https://www.prnewswire.com/news-releases/price-still-dominates-car-buying-in-us-and-europe-while-china-puts-technology-firstbain–company-survey-302914783.html

SOURCE Bain & Company

Continue Reading

Technology

HiTHIUM enters Canada with first 8-hour BESS and sodium-ion solutions adapted to extreme cold

Published

on

By

TORONTO, Oct. 21, 2026 /CNW/ — HiTHIUM, an integrated full-scenario energy storage solutions provider, has announced its entry into the Canadian market. Ranked in the top two globally for energy storage component, the manufacturer has surpassed 200 GWh in cumulative delivered capacity, focusing exclusively on stationary energy storage technologies.

Canada’s energy storage expansion requires reliable large-scale suppliers and local presence

Mizhi Zhang, HiTHIUM President of Global Business, commented: “We are committed to delivering Canadian customers advanced, robust solutions, from 8-hour long duration energy storage to extreme-weather-ready sodium-ion BESS. But this also means being present for customers wherever they are, able to serve them quickly and locally. While Toronto serves as the main hub for our Canadian operations, we have subsidiary offices in British Columbia and Alberta, as well as operating sites in Quebec, Yellowknife, and Fort Smith.” 

HiTHIUM has introduced 4-hour and 8-hour BESS solutions to serve the market’s rapid buildout of utility-scale energy storage. With installed Canadian storage expected to double between 2025 and 2027, and the country’s total wind, solar, and energy storage capacity on track to reach 50 GW by 2035, HiTHIUM is positioned to fill the growing demand for BESS on a large scale. The company has also revealed a new 4 MWh sodium-ion storage solution, which is designed for an extra-long service life, supports storage durations from 2 to 8 hours, and is perfect for extremely cold climates, like Northern Canada.

“Canada’s ambitious clean energy targets, as well as its high safety and regulatory standards, require partners who can deliver advanced technology that’s also tested and compliance-ready. At the same time, project developers have to consider the tough climate. As a vertically integrated, global solutions provider, HiTHIUM is structured to meet exactly this nexus of challenges. Our strategy of advancing both lithium-ion and sodium-ion storage is designed to offer customers in markets like Canada the benefits of flexibility, since we see these technologies as highly complementary,” continued Zhang.

“Our partners, whether major energy developers, public utilities, or industrial enterprises, rely on our readiness for local certification and our long-term bankability to support them, from permitting through project commissioning,” added Jordan Hebbert, HiTHIUM Senior Manager of Canada. “Likewise, they depend on the proven durability of HiTHIUM technology–including performance even in extreme weather conditions. In fact, long-term operational data from North American and European projects has recently demonstrated systems outperforming even our guarantees. And we offer customers a wider range of durations and choice of chemistries because we understand that they’re coming to us with a very diverse range of energy storage needs.”

4-hour or 8-hour BESS: Matching duration to project specifications

The manufacturer’s 4-hour BESS solution consists of its “∞Power” 6.25 MWh container, built on HiTHIUM’s own 1175 Ah cell. Most Canadian projects are currently designed around the 4-hour unit. This enables them to shift wind, solar, and baseload output to later peak times, strengthen grid reliability, and drive the consumption of more renewables, particularly as electrification increases demand. The ∞Power system design fits more capacity into the typical 20-foot container but also reduces a project’s overall footprint, because the containers can be placed back-to-back and side-to-side.

In a groundbreaking step for long duration energy storage, HiTHIUM also developed the first ever native 8-hour solution based on lithium-ion technology. Its 6.9 MWh 8-hour BESS, built with HiTHIUM’s own 1300 Ah cells, fewer components overall, and a 25-year lifespan, is designed to address issues like curtailments and to fill key gaps for zero-downtime industrial segments like AI data centers. For wind project developers and data center operators alike, 8-hour BESS offers risk reduction and greater revenue reliability.  

Extreme fire test validates safety architecture

HiTHIUM additionally worked with UL Solutions at the start of 2026 on an independently conducted, extreme fire test of its 6.25 MWh block’s intrinsic safety systems. A container was subjected to 24 hours of extreme combustion conditions, with its doors opened for maximum thermal spread, while neighboring containers were placed just 15 cm away. Only the containers’ passive safety systems were enabled. The results validated HiTHIUM’s multi-layer safety architecture, with the tested container structurally intact after the test, no thermal propagation across the containers, and the temperatures of cells in adjacent containers remaining below safety thresholds.

View original content:https://www.prnewswire.com/news-releases/hithium-enters-canada-with-first-8-hour-bess-and-sodium-ion-solutions-adapted-to-extreme-cold-302914919.html

SOURCE HiTHIUM

Continue Reading

Trending