MUMBAI : Cyber attackers are getting stronger and smarter. To tackle these attacks, organisations and intuitions are moving towards smaller and more specialised security software vendors. Although, the worldwide security software market grew 3.7 % in 2015, the top five vendors were down 3.1 percentage points compared to last year, according to a Gartner report.
The report further stated that the worldwide security software revenue totalled US $22.1 billion in 2015. The fast-growing segment continued to be security information and event management (SIEM), with 15.8 % growth. According to Cyberbit Commercial Solutions’ Asia Pacific VP Neri Zin, “Gartner’s projection reflects the fact that the security organisation’s priority is transitioning from broad protection to focused protection and better ROI. Security leaders are seeking products that will not only increase security but will also help their limited teams be more effective and increase their performance.”
The market share of Symantec which maintained top spot is 15.2% but has witnessed the highest decline in revenue over a three-year period. Its security software revenue fell by 6.2 percent to $3.4 billion. Others like Intel, Trend Micro and EMC witnessed a decline of 4.1, 5.9 and 5.3 respectively. IBM was the only top vendor that saw a growth of 2.5 %. Meanwhile, other security software vendors together witnessed a growth of 9.2 % and it has accounted to 62.4 % market share in 2015. These vendors generated revenue of $13.7 billion. Zin stated, “Attackers are transitioning from broad, global attacks to focused, smart, targeted attacks on the specific organisation. This calls for more specific security solutions.”
Today, there is a growing demand for managed security services (MSS). The reason MSS is gaining importance has a lot to do with MSS providers usually being experts in this domain; can take an organisation from zero to an initial security level in a relatively short time; and the operation cost of a small to medium size organisation’s security department is relatively high in comparison to a short term MSS sub-contracting.
According to a survey conducted by ISACA (Information Systems Audit and Control Association) and RSA in 2016, 71% respondents who participated felt that their organisations are ‘very likely’ or ‘likely’ to experience a cyber attack in 2016. ISACA and RSA stated that cyber security threats continue to plague enterprises. Mitkat Advisory CEO Pawan Desai said, “The threat vectors are so wide that any amount of defence mechanism is not going to be 100 % foolproof.”
Desai further added, “Now days, most of the organisations are depending on the entire value chain of security protection, i.e., prevention, detection, response and minimisation.” This means that investment will not just be made in traditional security products, but also in streamlining security operations and improving team performance, essential for handling the emerging threat landscape with limited teams, believes Zin.
