Momentum Cyber Releases 2019 Security Technology Spend Insight Report

September 12, 2019

Momentum Cyber and Optiv Security are pleased to release a new white paper entitled “2019 Security Technology Spend Insights Report,” which discusses the top five Cybersecurity technology buying trends, providing a ‘barometer’ of key focus areas and investment priorities of Cybersecurity teams across the globe.

This report analyzes the top five technology spending trends and technology areas to watch. The discussion of each trend includes an overview, the change in spending, key drivers of change, strategic activity, and a future outlook.

Top Five Cybersecurity Technology Buying Trends

Identity Management: With the rapid growth in the number of identities, devices, and data sources for businesses to manage in addition to increased adoption of cloud technologies, heightened security complexity has made Identity Management more important than ever. To address this complexity, rather than focusing on whether network users are “inside” or “outside” the network for limiting their access to data, businesses are leveraging identity controls to define what data and assets can be assessed based on who a network user is and to protect critical assets, even in the event of credential compromise.
Vulnerability Management: Despite most ransomware attacks capitalizing on known, fixable vulnerabilities, the proliferation of devices for companies has led to a lack of comprehensive knowledge on what assets exist and an inability to address the vulnerabilities present in each device. By discovering assets, ranking them by risk, and creating organization-specific priorities for vulnerabilities, Vulnerability Management programs allow security teams to efficiently remediate vulnerabilities and to greatly reduce their cyber risks.
Email Security: As the most common vector of initial penetration into businesses, email is among the most damaging means of cyber attack. Comprehensive training of employees (often the weakest link in any security defense chain) and technologies that render harmless malicious code in emails, among other solutions, are being leveraged to address this top threat.
Data Protection: As data sources shift, as data storage moves from being on-premises to being on the cloud, and as data accumulates as businesses mature, engaging in Data Protection has become more complex. At the same time, regulations like the General Data Protection Regulation threaten companies with significant penalties for failure to comply with their privacy protections. All of these factors have converged to make the protection and encryption of data among the top priorities for businesses.
Cloud Security: Cloud adoption is higher than ever, but, while the major cloud service providers offer basic security controls, such controls are limited mostly to their own platforms and are of limited value to organizations today that often engage in hybrid, multi-cloud strategies. As such, while the bulk of spending on Cloud Security now is on safeguards for SaaS applications, spending on tools capable of securing IaaS/PaaS infrastructures across multiple clouds is on the rise.
Additional Technologies To Watch: Endpoint Security, Zero Trust Architecture, Security Awareness Training, Security Automation & Orchestration, and Serverless & Container Security.

Please feel free to download or view our full white paper here.

Insights into peer buying trends and marketplace activity provide security decision-makers with a context for thinking about Cybersecurity and how to invest wisely. Outlooks evolve, but the observations from this report are unlikely to change anytime soon:

Security programs will continue moving towards a security model that prioritizes identity, least-privilege access, and zero trust, enabling enterprises to focus on data and application access rights.
Cloud security solutions move towards enabling innovation and flexibility throughout the enterprise while protecting data both inside and outside protected cloud applications.
Increased focus on data privacy and stricter regulations (e.g. GDPR, PIPEDA, CCPA, etc.) will be a key driver for growth for data-centric security solutions with data discovery, management, and protection extending beyond the evaporating perimeters.
Email-based phishing of employees continues to be the “weak link” in security programs, driving increased activity in email security and continued spending in security awareness training.
Lack of cyber talent will continue to be a major challenge, fueling “force multiplier” technologies such as risk-based vulnerability management and prioritization, security automation and orchestration, and security analytics.

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If you would like to discuss this white paper or our insights into the Cybersecurity industry, please give one of us a call. Also, if any of your colleagues would like to receive our Cybersecurity Market Reviews, they may sign up on our website.

Source: MomentumCyber