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Cloud shakes up security software market; research

The security software market is undergoing a dramatic transformation due to four key developments, according to Gartner

Cloud shakes up security software market; research
The transformation is down to the use of advanced analytics, expanded ecosystems, adoption of software-as-a-service and managed services.

Gartner has revealed that four key developments are shaking up the security software market.

The transformation is down to the use of advanced analytics, expanded ecosystems, adoption of software-as-a-service and managed services.

Deborah Kish, principal research analyst at Gartner, said: "The overall security market is undergoing a period of disruption due to the rapid transition to cloud-based digital business and technology models that are changing how risk and security functions deliver value in an organisation.

"At the same time, the threat landscape and rise in the number of high-impact security incidents are also creating demand for security technologies and innovations that deliver greater effectiveness."

According to Gartner the four vectors include:

1. By 2020, advanced security analytics will be embedded in 75% of security products.

Organisations are increasingly seeking products that incorporate "smarter" predictive and prescriptive analytic technologies, which help warn users of potential security incidents and provide guidance on optimal responses.

2. Integrating technologies will be a critical strategy to enter new markets.

Start-ups and smaller vendors are pursuing innovative approaches to security problems, acquisition, integration and consolidation are highly effective strategies to increase market share and enter completely new markets. In many cases, mature vendors in search of continued growth are acquiring faster-growing companies from emerging adjacent markets.

3. End users' quest for flexibility will increase adoption of SaaS.

Security buyers are making security product investment decisions that support digital business, fit their current challenges and deliver performance value. SaaS for security and risk management are becoming critical as customers transition to digital business practices. However, providers must consider the financial implications of maintaining support for security products while investing in an as-a-service product or managed service.

4. The regulatory environment will create opportunities for security software providers

The EU General Data Protection Regulation (GDPR) will come into effect on May 25 2018 and could see organisations facing heavy fines should they receive a single complaint for mishandling private data. Punitive regulations will create board-level fears, driving security software budget decisions based on the potential financial impact of fines and noncompliance.

Consequently, enterprises will look to providers with products that provide the needed visibility and control of their data. Providers should identify the key regulatory requirements and constraints in target geographies by working with legal counsel to deliver product and service choices that will alleviate board-level fears.

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