Dec 02 2015

The Developing Cybersecurity Marketplace

The Economist recently published an article, “Cyber-security: The cost of immaturity” in their November 7th edition.

In the article, the authors discuss how the “business of protecting against computer hacking is booming.” To quote part of their article, “A report by Bank of America Merrill Lynch reckons the market is $75 billion a year now and will be $170 billion by 2020. Not only is demand soaring, but barriers to entry are low. Anyone able to spout out a bit of computer jargon can set up shop…”

Working in the industry, we noted a huge rise in those that claim they have expertise in cyber, from lawyers to accountants to IT professionals. But do they really?

We have great colleagues from these various industries working in the cyber field. They are consummate professionals but can only answer questions from their unique perspectives. Our belief at Layer 8 Security is that you need the right team of these specialists (to include cyber insurance experts and even public relations partners) to truly cover all of these bases.

We also noted a vast entry of cybersecurity products in the marketplace, all claiming in some way or another to alleviate your cyber woes. There is no one solution to solve this complex issue and, most importantly, solutions are only as good as the people implementing and maintaining them.

Cybersecurity is a people problem, not a technology problem. Having the right partner to guide you through this maze of products and services is key. Equally important, having a partner that can help quarterback the other partners you need is essential.