Low enterprise adoption of data loss prevention (DLP) technology will cause businesses to fail, a research firm warns.
A report by research firm, Ovum, shows sales of DLP technology will increase from $458m in 2009 to $832m by 2015. Ovum says this number is low compared to the network security market, which is expected to reach sales of $6.5bn in 2015.
Andy Kellett, Ovum analyst, says the lack of protection of sensitive data will have regulatory and business implications, causing businesses to fail.
"Both public and private sector organisations have compelling reasons to protect their sensitive data, such as the potential for financial losses and regulatory requirements. DLP solutions are widely available but, despite this, enterprise take-up levels remain relatively low," said Andy Kellett.
"There are some justifiable reasons for this reluctance to take up DLP products; current offerings are often perceived as too complex to deploy and support and also expensive to operate and maintain, while not providing a good enough return on investment. Part of the problem is the unrealistic way these products were originally brought to market," he continued.
Kellett says organisations must prioritise the protection of valuable data assets in the first stage of a DLP project.
Recent research by Informatica shows UK banks are failing to protect confidential customer data used for software development and testing purposes.