Enterprises rethink risk management software

Four key developments have resulted in a transformation of the security software market, causing enterprises to rethink risk management software investments, because of demanding regulations, according to Gartner, an American research and advisory firm.

Gartner’s key points show that the overall security market will face a period of disruption:

  • The EU General Data Protection Regulation will cause uproar by 25 May 2018, if      organisations face expensive fines for mishandling private data.
  • Advanced security analytics will help guide users to optimal resources, and will be embedded in at least 75% of security products by 2020, driven by heuristics, artificial intelligence learning and other techniques.
  • SaaS security and risk management is becoming crucial for digital business practices, however providers aren’t taking into consideration the maintenance financial implications while investing in an AAS products.
  • Vendors are pursuing innovative approaches to security problems, acquisition, integration and consolidation; affecting strategies to increase market share and enter completely new markets.

“Cloud based digital business and technology models are changing how risk and security functions deliver value in an organisation,” said Deborah Kish, principal research analyst at Gartner.

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

Gartner also noted that in a bid to increase market share and enter completely new markets, vendors should engage in innovative approaches to security problems, acquisition, integration and consolidation.

Written from press release by Leah Alger

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