As Work Evolves in Australia, Cybersecurity Is Booming

Rhea-AI Summary

The demand for cybersecurity products and services in Australia is surging due to remote work and online engagement, as highlighted in the 2022 ISG Provider Lens™ report. Increased online interactions and cloud migration have raised vulnerabilities, prompting a shift in how organizations procure cybersecurity. The market for data security is expected to grow significantly, with cloud security and IAM leading. Stricter privacy regulations are also necessitating advanced DLP technologies. The report evaluates 80 providers, naming IBM as a leader in five quadrants and identifying rising stars like HCL.

Positive

• Increasing demand for cybersecurity driven by remote work and cloud migration.
• Australian data security market expected to grow significantly in the next five years.
• Cloud security and Identity and Access Management (IAM) identified as leading growth areas.
• Stricter privacy laws enhancing the importance of data loss prevention technologies.
• IBM recognized as a leader in five quadrants, indicating strong market position.

Negative

• None.

Demand for cybersecurity products and services is growing to support the rise of remote work, online customer engagement and cloud migration, ISG Provider Lens™ report says

SYDNEY--(BUSINESS WIRE)-- The growth of remote working across Australia in recent years has made cybersecurity increasingly important to Australian enterprises, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2022 ISG Provider Lens™ Cybersecurity — Solutions and Services report for Australia finds that demand for cybersecurity products and services has risen with home-based and hybrid work and companies’ increasing need to engage with customers online. Along with digital transformation and cloud migration, these trends have heightened concerns about vulnerabilities and changed how organizations procure cybersecurity services.

“Cybersecurity is moving up the agenda in Australian enterprises, and senior management is increasingly involved in cybersecurity decision-making,” said Joyce Harkness, director, ISG Cybersecurity, for ANZ and Asia Pacific. “Most companies are looking for simple but flexible solutions.”

The Australian data security market will grow significantly in the next five years, with cloud security and identity and access management (IAM) growing fastest, ISG says. This trend will intensify the country’s need for skilled security professionals.

To securely allow remote work, Australian companies are adopting technologies that include IAM, endpoint protection, secure access service edge (SASE) and secure web gateways and firewalls, the report says. IAM has become one of the most important technology investments for many organizations, also helping them streamline processes, cut costs and improve customer experiences as they update delivery models to reach more customers online.

Stricter Australian privacy laws are making mature data loss/prevention (DLP) technologies and practices more vital to the country’s enterprises, ISG says. In 2018, the Australian Privacy Act was strengthened, especially by the addition of the Notifiable Data Breaches scheme, which requires organizations to inform individuals if a data breach is likely to cause serious harm.

Cybersecurity is also becoming a major factor in corporate governance, risk and compliance practices in Australia as organizations see the rising risks of security breaches, the report says.

“Australian companies are starting to understand the risks of cybercrime for both their finances and their reputations,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Many of them are appointing data security and compliance officers to help reduce those risks.”

The report also examines several other cybersecurity trends in Australia, including the evolution of managed security services, increasing use of AI and the federal government’s growing investment in cybersecurity.

The 2022 ISG Provider Lens™ Cybersecurity — Solutions and Services report for Australia evaluates the capabilities of 80 providers across six quadrants: Identity and Access Management (IAM); Data Leakage / Loss Prevention (DLP) and Data Security; Advanced Endpoint Threat Protection, Detection and Response (Advanced ETPDR); Technical Security Services; Strategic Security Services, and Managed Security Services.

The report names IBM as a Leader in five quadrants. It names Accenture, CyberCX, Deloitte, DXC Technology, Fujitsu, Microsoft, NTT, Telstra, Tesserent, Verizon and Wipro as Leaders in three quadrants each. Broadcom, Kasada and VMware Carbon Black are named as Leaders in two quadrants each. Bitdefender, Capgemini, CGI, CrowdStrike, CyberArk, EY, Forcepoint, Infosys, KPMG, Okta, Ping Identity, PwC, RSA, SailPoint, Tech Mahindra, Trellix and Unisys are named as Leaders in one quadrant each.

In addition, HCL is named as a Rising Star — a company with a “promising portfolio” and “high future potential” by ISG’s definition — in two quadrants. Check Point, LastPass, Macquarie Telecom Group and Netskope are named as Rising Stars in one quadrant each.

A customized version of the report is available from CyberCX.

The 2022 ISG Provider Lens™ Cybersecurity — Solutions and Services report for Australia is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220830005977/en/

Press Contacts:



Will Thoretz, ISG

+1 203 517 3119

will.thoretz@isg-one.com



Julianna Sheridan, Matter Communications for ISG

+1 978-518-4520

isg@matternow.com

Source: Information Services Group, Inc.

FAQ

What does the 2022 ISG Provider Lens report say about cybersecurity in Australia?

The report indicates that the demand for cybersecurity products and services is increasing due to remote work and online customer engagement.

Which companies were named leaders in the ISG Provider Lens report?

IBM was named a leader in five quadrants, while Accenture, CyberCX, Deloitte, and others were leaders in three quadrants each.

What is driving the growth of the cybersecurity market in Australia?

The growth is driven by the rise of remote work, digital transformation, and stricter privacy laws.

How significant is the impact of privacy laws on cybersecurity in Australia?

Stricter privacy laws are making data loss prevention technologies critical for Australian enterprises.

What technologies are Australian companies adopting for cybersecurity?

Technologies like IAM, endpoint protection, secure access service edge (SASE), and secure web gateways are being adopted.