Network security typically conjures up images of expensive, pointless, and convoluted costs in the minds of small and medium business owners. There are several straightforward and inexpensive steps you can take to strengthen your established system and get rid of weaknesses, even though setting up a secure network does require investment and professional assistance.
In 2021, the market for network security was estimated to be worth USD 20.30 billion. The market is anticipated to expand at a CAGR of 13.0% from 2022 to 2029, rising from USD 22.60 billion in 2022 to USD 53.11 billion. According to Fortune Business Insights, the worldwide network security industry trends showed an increase of 11.1% on average in 2020 over 2019.
What are the driving factors?
Digital solutions, networked gadgets, and IT systems are becoming more widely used as a result of global technological growth. Digital platforms, devices, and users can communicate corporate data and applications thanks to the development of digital infrastructure. As a result, hackers are increasingly using “perfect hacking” techniques to penetrate an organization’s IT infrastructure and gain access to vital business data.
Additionally, the corporate sector’s level of protection from attackers was examined and determined to be incredibly low. Additionally, a Kaspersky Lab survey found that more than 40% of businesses lacked effective cybersecurity infrastructure. According to the report, insecure online applications were penetrated in roughly 73% of successful perimeter breaches in the business sector. Furthermore, it is projected that the increase in cyber risks will fuel demand for solutions and accelerate market expansion.
What is restraining the growth?
Just about every company has to cope with threats to their data and a lack of real data protection. Despite this, businesses continue to underfund network security solutions. Additionally, this program has a high initial setup cost and demands ongoing maintenance, which is predicted to delay acceptance for a short while.
Is making a network security solution cost-effective possible?
Let’s take a gander at the ways network security solutions can be made affordable:
Ensure that everything is updated: One of the easiest ways to increase network security is by installing patches and updates, but many firms neglect to do so. Despite the fact that installing patches and updates may have seemed like something you could wait to do until you have some free time one afternoon, you should do so immediately.
Adopt stringent password guidelines: Passwords created by end users are frequently insecure. Because of their predictable password choices, end users are often the most vulnerable component of any network and have the power to completely destroy it. To ensure that all passwords contain both upper- and lowercase letters, numbers, and special characters, establish a company-wide standard. In order to ensure that passwords are not used for a long time after being disclosed, they should also be reset once every 30 days. Strong passwords are one of the most popular methods that cybercriminals use to access networks, so it’s worth the effort to remember a more difficult password and change it every month.
Change the permissions of network folders: Even though it can be convenient to grant everyone in your company access to everything, doing so poses serious security risks. To lessen the possibility of insider assaults, access should be granted to end users based on their individual needs. Insider breaches are growing increasingly frequent, and in 2016, several major corporations, including Sage and Expedia, became victims. In order to gain access to a firm’s network, many cybercriminals are now targeting employees and promising them a cut of their income. Only one or two employees at the top of your organisation should have access to all papers, and the remainder of your staff members should only have access to the files they need.
Implement policies for mobile device management: In today’s companies, distributed workspaces and BYOD policies are commonplace, but few networks have a uniform security policy in place, leaving many businesses susceptible. By putting in place a mobile device management policy, you can make sure that every network-connected device complies with the same security requirements. Your policy may be as straightforward as requiring passcodes or as complicated as geofencing, which would base access to specific data and applications on the location of the device.
Keep end users from installing software: Again, this is a slight interruption with significant benefits for safeguarding your network against malware and viruses. Raising the permission levels to demand administrator credentials will stop users from installing software.
Consider safeguarding any local network elements physically: We frequently picture cybercriminals as IT wizards who penetrate networks by taking advantage of hidden security flaws. In truth, human error or lax physical security are often the causes of the weaknesses that cybercriminals take advantage of. If the physical components of your network are not properly secured, even the most advanced, multifaceted network security system won’t prevent a breach. Physically securing network infrastructure components from the public at large and staff, ensuring wireless access points and Ethernet cabling are run out of sight, and disconnecting unused Ethernet ports are all steps in ensuring physical network security, which is incredibly straightforward but frequently ignored.
In the current digital environment, where organisations are increasingly being targeted by cybercriminals looking for a quick and easy payout, advanced network security is essential. We advise initially completing an IT audit if you are concerned about the safety of your existing network or are considering upgrading. With the help of these audits, you can view the entire structure of your network and determine what has to be changed and where your money is best used. In order to secure a business’ endpoints, communication systems, gateways, mail servers, and office premises, you can resort to a reliable network security services company. Experts at Ensure Services assess potential security threats and recommend comprehensive security solutions.