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New survey reveals $2 trillion market opportunity for cybersecurity technology

ItemDate=2022-11-15 03:25:49 Status=publish


#Discussion(Security) [ via IoTGroup ]

To maximize the opportunity, providers must get a grip on the factors shaping the market, the segments most likely to grow, and the services customers need.SMBs expect to widen their deployment of end point detection and response (EDR) tooling, to use single panes of glass that ingest and monitor their cloud environments, and to rely on managed-service partners (such as providers of managed detection and response services) for more sophisticated activities.

An existing global cyber-talent shortage, com­pounded by the intensification of digital threats like ransomware during the COVID-19 pandemic, has created further growth opportunities for service providers as CISOs and talent partners struggle to fully staff their organizations.The combined insights, tracked in McKinsey’s Cyber Market Map, show that spending on products and services from vendors is set to rise 13 percent annually up to 2025—a significant uptick from 10 percent growth over the past three to five years.Key changes to previous market forecasts include not only faster growth, with services increasing much faster than products, but also a significant opportunity in the SMB segment.

Where cloud providers offer cybersecurity solutions, the tooling on offer in many cases is not a compre­hensive substitute to the capabilities of cybersecurity specialists—at least in the enterprise segment.In another example, in the cloud, orchestration coordinates workflows and the deployment and management of data across multiple public and private clouds, software-as-a-service (SaaS) providers, managed data centers, and on-prem infrastructure enterprises.To reach this target state of optimized low-cost services, managed-service providers can focus on the brains of next-generation security products by concentrating innovation in areas such as data source integration and neural

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