Cybersecurity Market Booming But Caution Urged for CISOs Navigating Crowded Solutions Landscape
-
The cybersecurity market is poised for significant growth, with spending forecasts predicting double digit increases annually over the next several years. Vendors see a $1.5-2 trillion total market opportunity.
-
The market is saturated with new point solutions, confusing buyers. Vendors are also bundling tools into platforms, causing feature overlap.
-
CISOs should focus on innovating with existing tools before buying new ones, solve actual problems vs. vendor-defined ones, and map purchases to strategic roadmaps.
-
The shift to cybersecurity-as-a-service is accelerating, posing management challenges for CISOs used to on-premises, in-house security.
-
SMBs will likely outsource more security operations, but the impact may be less dramatic for large enterprises with existing security engineering teams.