Demand Creates Growth Opportunities in the Cyber Security Market
The long-standing success story of the cybersecurity market remains intact. In the face of ever-increasing attack pressure and a worsening shortage of skilled workers, the signs continue to point to growth. Especially in the SME sector. While large companies tend to maintain their already high budgets and increase them slightly overall, it is small and medium-sized enterprises (SMEs) in particular that are generating additional demand. This is reported in the new study "ISG Provider Lens Cybersecurity - Solutions & Services 2023", which the market research and consulting company Information Services Group (ISG) has now published in two separate editions for Germany and Switzerland. In it, ISG examines the portfolio and competitive strength of more than 100 service and product providers in the cybersecurity market.
Development factors
Cyber security is becoming a key competence. Two factors are driving this development particularly strongly. Firstly, the ever-increasing digitalization of companies is massively increasing the size of attack surfaces and the number of attack vectors. Secondly, the ability of attackers to change their methodical and tactical approach at ever shorter intervals and to use new technologies in the process is also increasing. For example, forms of artificial intelligence (AI). Both the variability and the range of attacks are thus becoming ever greater. Regardless of this, companies and government organizations are driving forward the digitalization of their processes in order to work more efficiently and in a more customer-oriented manner. In order to orchestrate the variety of defense mechanisms used and detect relevant attacks early enough, providers are expanding the use of self-learning solutions that work with various automation, machine learning and AI techniques.
Human intelligence
"However, this in no way makes the human workforce in SOCs superfluous. Quite the opposite," says study author Frank Heuer, who works as Lead Analyst Cybersecurity DACH for ISG. "After all, in-depth expert knowledge is needed to set up automation solutions in line with the specific threat situation. It's also about critically evaluating the results of the systems."
