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Cybersecurity and the Future of Retail in the Era of Digital Transformation

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retail-future-blog-header-1658x468Summary: “Retail cybersecurity market is expected to rise rapidly as customers nowadays are opting for faster technological solutions to purchase what they need; time saving processes along with cost-effectiveness associated with the online retail industry has helped in the rising demand for this market”

Computer security or cyber security involves protection of computer systems from various theft or damage done to hardware or software along with saving systems from service related disruptions. It includes controlling the physical access to the hardware along with protecting against harm that might come via data and code injection or network access. Many a times, it is also seen that malpracticesby operators either intentional or accidental leads to the IT security problems. System becomes susceptible to being tricked into other deviations from secure procedures through different methods.

Cyber security that provides protection to systems, networks and data within cyberspace is an extremely important issue for all businesses and its smooth functioning in the long run. This is likely to gain more importance with growth in internet penetration and application. Retail industry is experiencing huge growth along with rising advancements and application of technology that are used for maintaining the demand and supply of customers.

This has led to the application of cyber security in retail sector resulting in the growth of retail cyber security market. Segmentation for the global cyber security market has been done on the basis of solutions, security type and geography. Based on solutions, this market has been segmented into risk & compliance management, unified threat management, security and vulnerability management, web filtering, encryption and disaster recovery among others. Network, cloud, application and wireless security among others are the various segmentations for this global market based on security type.

Online retail industry is experiencing immense growth as customers nowadays are opting for faster technological solutions to purchase what they need that has been a major driver for this retail cybersecurity market. Time saving processes along with cost-effectiveness associated with the online retail industry has helped in the rising demand for this market. Along with this, the technological advancement has also lead to the rising chances of cyber-attacks leading to the loss of confidential information of customers that further boosted the demand for retail cyber security globally.

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