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Cybersecurity Investment Trends

Posted by Jeff Pelliccio on May 9, 2018 9:00:00 AM

In ICS insights, hiring trends, Job Trends

Gartner released a survey that showed that worldwide spending on information security services and products reached more than $86.4 billion in 2017. This represents an increase of more than seven percent from 2016. It is also estimated that IT security spending is expected to grow up to $93 billion.

Gartner, along with a number of other cybersecurity analysts now believe that advanced threat protection, data loss prevention, and application security testing are going to be some of the main investments that companies are making in 2018. In the meantime, as more businesses get ready to deploy all new technologies to help protect their IT environments and networks in the coming year, they need to keep tips in mind to manage their budget. This includes avoiding the use of excessive vendors, developing more meaningful relationships with partners, and auditing the existing solutions in place.

What’s Going to Be Driving Cybersecurity Investments?

There’s no question that IT security is a massive market. The question is, where is the growth coming from in 2018?

Gartner expects that in the infrastructure protection segment, there will be fast growth due to the continued threat of data breaches, as well as the increasing demands for application security testing.

According to the research firm, businesses spending on emerging technology related to tools for application security testing is going to significantly contribute to growth, which will continue until 2021.

It is also expected by Gartner that the security services are going to be the most rapidly growing segment – especially in relation to implementation, consulting, and IT outsource services. However, the firm also believes that hardware support services aren’t going to grow as quickly, as many companies are adopting virtual appliances, SaaS security solutions, and public cloud security. All this helps to reduce the need for any type of hardware support now and in the future.

One fact that a number of businesses must also consider in 2018 is the GDPR – General Data Protection Regulation – being launched in the European Union. This is going to likely drive investments for the data loss prevention segment as more businesses seek the technology necessary to be compliant with the new requirements.

The GDPR is introducing extremely strict controls regarding personal data. It will go into effect on May 25, 2018, and will impact any company that actively collects any type of data on people who live in any of the EU countries. This means that companies are going to have to achieve the same levels of protection for things such as cookies data and IP addresses as they do for their Social Security number, address, and name.

Failure to be compliant with GDPR is going to result in stiff penalties that range up to $23.6 million or up to four percent of the company’s global revenue – whichever number is higher – for those who are noncompliant. Gartner also stated that these new regulations have resulted in a sense of unease and panic among many organizations throughout Europe, but will also have a larger, more global effect since the multinationals will also have to meet these new laws and regulations.

Any organization that already has a DLP solution is likely trying to figure out what they can do or what additional capabilities they will have to invest in. There are others who are just looking for a way to increase existing capabilities.

In addition to the technologies mentioned above, there are also a number of other classes of advanced threat prevention technologies that most businesses will be interested in investing in this year, according to Joh Oltsik of ESG. These will include things such as:

  • Microsegmentation of networks

  • Intelligent application controls

  • Secure domain name systems

  • Threat intelligence gateways

  • Endpoint security software

According to him, all of these tools are going to do a much better job of being able to block attacks, malware, vectors, and exploits while reducing the risk of a surface attack, too. This will also have the ability to help reduce threat detection complexity and noise.

How to Overcome Budget Challenges to Adopt New IT Security

With all the options and tools, it is advisable that businesses and organizations work to get a handle on all the cybersecurity solutions in place today, noting that security solution sprawl will do more harm than it will good.

If there are too many security solutions in place, then this may translate several protection issues, especially regarding manageability, updating, training, and visibility. If an employee user isn’t trained the right way, they may not leverage the solutions properly to provide the most protection. Additionally, with no visibility, it may mean that patches and updates aren’t applied fast enough, which will create additional openings and vulnerabilities for cybercriminal activities.

It is also important for organizations to think about deploying solutions that are more intelligent in order to assist them in overcoming the fact that they may not have an adequate number of security personnel on staff to manage all of the cyber tools being used.

In regard to best practices, it is advisable that organizations and businesses avoid partnering up with too many different security vendors since these companies are going to have limited resources. They also need to audit the current security solutions that are in place.

Prior to replacing, ripping, or consolidating, it is necessary to fully understand the security solutions that are currently being used, as well as the capabilities that they offer. After a business or organization is able to understand how effective (or ineffective) these solutions are, then they can make changes and consolidate if possible.

Finally, it is necessary for all companies to take the time to find one or two smaller security firms that they want to partner up with. This will allow them to leverage the partnerships they have made so they can dig even deeper into any emerging threats that may be on the horizon. This will also help to provide the most comprehensive and cohesive protection possible in today’s environment.

Become Secure

Now that you know the trends, what are you going to do? Invest where it matters. Partner with ICS to find the talent you need for the crucial open positions you have or are going to have after the next breach. We have the talent, and you have the security problems, so let us be of service to you. Click below to move into a more secure future.

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