The market of security software is undergoing a dramatic transformation and according to Gartner there are 4 reasons: the use of advanced analysis, the adoption of SaaS (software as a service), expanded ecosystems and new data protection laws. Due to this new reality, companies are redesigning their security systems.
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 organization,” said Deborah Kish, principal research analyst at Gartner.
Let’s take a look to the 4 vectors that are changing the security software industry:
By 2020, Advanced Security Analytics will be embedded in at least 75% of security products
Companies are increasingly looking for products that incorporate predictive and prescriptive analytical technologies, that is, that are “smarter” and alert users to possible security incidents. These more advanced analytical capabilities are driven by a variety of underlying technologies, such as heuristics, artificial intelligence/machine learning, and other techniques.
The acquisition and integration of products and technologies will be a critical strategy to increase market share and enter new markets
Given the preponderance of startups and small vendors seeking innovative approaches to security issues, acquisition, integration and consolidation are highly effective strategies to increase market share and enter unknown markets. In many cases, mature suppliers looking for continued growth acquiring faster-growing companies from emerging markets. In other cases, suppliers optimize profits by consolidating similar products under a single brand, thereby leveraging economies of scale by combining key functions such as development, support, sales, and marketing.
Demand for end-user flexibility will increase adoption of SaaS
A recent survey of Gartner end-user security spending indicates that there is a preference for products in a SaaS format. SaaS for security and risk management becomes critical as customers move to digital business practices. However, vendors should consider the financial implications of maintaining support for security products rather than investing in a managed product.
The new data protection law creates an opportunity for the security industry
The General Data Protection Regulation (GDPR) will come into force on May 25, 2018 and there will be substantial fines for companies that do not comply with the regulation. Companies will be more willing to invest in security solutions because the investment will be necessary so that they don’t have to pay high fines.