The COVID-19 pandemic is expected to moderately impact the global mainframe security market for a short-term period. The economic depression due to lockdown and shut down of enterprises across the globe has led to low investment in new technology as this increases the additional fixed cost of companies. Companies in this this time period are highly skeptical of investment.
Mainframe security is a tool which mitigates the risk of data exposure, fulfils regulatory compliance, and maintains unified enterprise security. Mainframe security is designed to work together across the security lifecycle from access control to data security to audit.
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The increasing use of cloud services is expected to bring down costs for hardware and software products, which could reduce the overall market price, but more likely, heavier adoption will bring in more customers, thus being a potential positive for market revenue growth.
One of the major driving factors of mainframe security is it empowers a company to gain specialized expertise in its non-major business segments. This enables the company to gain access to more opportunities through specialization and also helps it to focus on primary objectives as well as prioritize work more efficiently. The cost benefits as well as flexibility from cloud deployment is increasing the penetration rate among SMEs, which results in driving the mainframe security market.
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The number of data breaches across the globe is increasing. The cost of recovering the data to compensate the loss due to data breach is very high. For instance, a recent ServiceNow survey (conducted by Ponemon) states that:
Of the 3,000 companies surveyed, almost half admitted that their organization suffered a data breach in the last two years.
Of those who suffered data breach, 34% knew they were vulnerable but did nothing
The rising data breach occurrences is driving the growth of the mainframe security market.
Lack of knowledge and training related to an organization’s cloud services is also a challenge, specifically in Middle East & Africa, Asia Pacific, and South America, which is impacting the growth of the mainframe security market
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In terms of region, the global mainframe security market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is expected to dominate the mainframe security market during the forecast period due to strong adoption rate of outsourcing or rental models by business enterprises.
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