Global data collection market expected to grow from approximately $ 1.6 billion in 2021 to $ 8.21 billion in 2028
HERZLIYA, Israel, November 02, 2021 (GLOBE NEWSWIRE) – Safe-T® Group Ltd. (Nasdaq, TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and businesses, today announced that the corporate privacy business unit of Safe-T received a purchase order for a project led by an Israel-based global data services company that intends to use the Recently announced web-based data collection as a service (DCaaS) solution in the analysis of major online social media sites.
The initial value of this high margin project is $ 180,000 and the potential value of the specific client is estimated at $ 500,000 per year. The DCaaS solution was chosen after a period of intensive testing and evaluation focused on determining performance metrics, including system stability, as well as the diversity and scalability of the data collection platform versus to existing solutions on the market. According to a report by Grand View Search, the global data collection market is expected to grow from approximately $ 1.6 billion in 2021 to $ 8.21 billion in 2028. This represents a compound annual growth rate (CAGR) of 25.6% in 2021 to 2028.
Shachar Daniel, Co-Founder and CEO of Safe-T, said: “We are delighted to have been selected by this data services organization established following extensive benchmarking of our new DCaaS product with several leading solutions. in the market and look forward to the extension of this contract. This project is the last step for Safe-T and validates our capabilities in the data collection market, one of the many global opportunities that we are now targeting with our portfolio of cybersecurity and privacy technologies. Based on customer feedback and growing interest in our DCaaS, we expect to continue to show growth in this segment and announce further contracts and partnerships in the near future.
The web data collection solution, created by the company’s corporate privacy business unit, was launched in September 2021 to provide customers with the ability to collect and analyze online, public and based data. on the Web. The solution is delivered as a DCaaS and powered by Safe-T’s unique hybrid enterprise privacy network, which is used by hundreds of corporate customers around the world. The web data collection solution will allow businesses to collect information at any scale from any public website. Safe-T’s new data collector addresses the key needs of data-driven, web-based, publicly accessible decision-making in many use cases including e-commerce, price comparison, brand protection, online search engine (SEO) and market research. This will allow companies to gain competitive advantages in their industry without having to invest significantly in their infrastructure, which will save them time and reduce the workload.
About Safe-T Group Ltd. Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a global provider of cybersecurity and privacy solutions for consumers and businesses. The Company operates in three distinct segments, tailoring solutions according to specific needs. The segments include enterprise cybersecurity solutions, enterprise privacy solutions, and consumer cybersecurity and privacy solutions.
Our consumer cybersecurity and privacy solutions provide broad security coverage against ransomware, viruses, phishing and other online threats, as well as a powerful, secure and encrypted connection, masking their online activity and protecting them from hackers. The solutions are designed for advanced and basic users, ensuring complete personal protection for all personal and digital information.
ZoneZero® cybersecurity solutions for businesses, designed for cloud, on-premises and hybrid networks, mitigate attacks against critical services and sensitive business data, while ensuring uninterrupted business continuity. Access use cases for organizations, whether external to the organization or within the organization, are secured according to Safe-T’s “validate first, access then” philosophy. .
Our privacy solutions for businesses are based on the world’s fastest, most advanced and secure proxy network, allowing our customers to collect data anonymously at any scale from any location. which public source on the web using a single hybrid network. Our network is the only one that includes both millions of residential exit points and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee confidentiality, quality, stability and speed of service.
For more information on Safe-T, visit www.safetgroup.com
Forward-Looking Statements This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Words such as “expect”, “anticipate”, “intend”, “plan”, “believe”, “seek”, “estimate” and similar expressions or variations of these words are intended to identify forward-looking statements. For example, Safe-T uses forward-looking statements in this press release when discussing the potential value of the project with a global data services company, the benefits of the DCaaS solution, its potential to meet the needs and / or as market demanded, the potential additional contracts and partnerships, the potential growth of the global data collection market and Safe-T’s new data collector will enable companies to gain competitive advantages in their industry. Since these statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and the actual results, performance or achievements of Safe-T could differ materially from those described or under – understood by the statements contained in this press release. Forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with Securities and Exchange Commission (“SEC”) on March 22, 2021 and in any subsequent filing with the SEC. Except as otherwise required by law, Safe-T does not undertake to issue revisions to these forward-looking statements to reflect events or circumstances subsequent to the date hereof or to reflect the occurrence of unforeseen events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference in this press release Safe-T is not responsible for the content of third-party websites.
INVESTOR RELATIONS CONTACTS:
Steve Gersten, Director of Investor Relations Safe-T Group Ltd. 813-334-9745 [email protected]
Michal Efraty Investor Relations, Israel + 972- (0) 52-3044404 [email protected]
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