Swiss Solutions Have Extra Appeal in Country’s Cybersecurity Market

Rhea-AI Summary

Swiss enterprises are choosing local cybersecurity providers due to Switzerland's banking industry and reputation for data protection, according to a report by ISG Provider Lens. The report highlights that Swiss firms appreciate the proximity and support provided by local service providers. The demand for cybersecurity solutions is increasing in both small and medium-sized enterprises (SMEs) and large companies due to legal regulations and the growing threat of cyberattacks. The report also mentions the challenge of protecting IT systems as more companies move critical resources to the cloud.

Positive

• Swiss enterprises prefer local cybersecurity providers due to Switzerland's banking industry and reputation for data protection.
• The demand for cybersecurity solutions is increasing in both SMEs and large companies.
• Moving critical resources to the cloud is a challenge for protecting IT systems.

Negative

• None.

Switzerland’s banking industry and reputation for data protection give an edge to local security providers, ISG Provider Lens™ report says

ZÜRICH--(BUSINESS WIRE)-- A long tradition of sovereignty, privacy and independence is leading enterprises in Switzerland to choose local providers to address their growing cybersecurity concerns, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2023 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Switzerland finds that many Swiss firms appreciate the local presence of service providers, not only for their proximity, but also for support that is speedy and relatively uncomplicated.

“Clients in Switzerland often prefer providers from Switzerland,” said Roger Albrecht, partner and co-leader, ISG Cybersecurity, based in DACH. “For success in the Swiss cybersecurity market, ‘Swissness’ can be key.”

Although quantifying threat risks and proving the ROI of cybersecurity measures hasn’t been easy, Swiss executives are steadily coming to the realization that cyberattacks can lead to massive, possibly existential, financial and image damage. A shortage of qualified resources and the need for constantly updated specialist knowledge are prompting many Swiss companies to turn to managed security services for assistance.

Because small and medium-sized enterprises (SMEs) typically have less mature IT systems than large enterprises, there has been stepped-up demand for cybersecurity solutions in this sector, the ISG report says. Cybersecurity providers seeking to grow at an above-average rate in Switzerland should focus more on the needs of these companies, ISG says.

The growth in demand for local cybersecurity services isn’t limited to SMEs. According to the ISG report, legal regulations are forcing companies of all sizes to implement strong security measures, especially for data protection, a top priority in a country known worldwide for its banking industry. This longstanding reputation for data protection and privacy has made security operations centers based in Switzerland appealing to large clients as well, the report says.

“Data protection has always been paramount for Swiss enterprises,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “With GDPR, its importance has increased even further.”

The report also examines how the growing trend toward moving critical corporate resources to the cloud has increased the challenge of protecting IT systems.

The 2023 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Switzerland evaluates the capabilities of 100 providers across seven quadrants: Identity & Access Management (IAM), Data Leakage/Loss Prevention (DLP) & Data Security, Extended Detection & Response (XDR), Security Service Edge (SSE), Strategic Security Services, Technical Security Services and Managed Security Services – SOC.

The report names IBM as a Leader in six quadrants and Eviden (Atos) as a Leader in four quadrants. Accenture, HCLTech, Microsoft and Swisscom are named as Leaders in three quadrants each, while Broadcom, Capgemini, Deutsche Telekom, Forcepoint, InfoGuard, ISPIN, Palo Alto Networks, Trend Micro, United Security Providers and Wipro are named as Leaders in two quadrants each. Aveniq, Axians, Bechtle, Cato Networks, Cisco, CrowdStrike, Deloitte, DXC Technology, Ergon, Fortinet, Fortra, KPMG, Matrix42, Netskope, Nevis, Okta, Orange Cyberdefense, Ping Identity, SentinelOne, TCS, Trellix, Versa Networks and Zscaler are named as Leaders in one quadrant each.

In addition, UMB is named as a Rising Star — a company with a “promising portfolio” and “high future potential” by ISG’s definition — in two quadrants, while HPE (Aruba), Trellix and Wipro are named as Rising Stars in one quadrant each.

Customized versions of the report are available from Axians, Deutsche Telekom and Swisscom.

The 2023 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Switzerland 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 900 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 1,600 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/20230802510272/en/

Philipp Jaensch, ISG

+49 151 730 365 76

philipp.jaensch@isg-one.com



Matthias Longo, for ISG

+49 152 341 464 63

matthias@longo-pr.de

Source: Information Services Group, Inc.

FAQ

Why are Swiss enterprises choosing local cybersecurity providers?

Swiss enterprises choose local cybersecurity providers due to Switzerland's banking industry and reputation for data protection.

What is driving the demand for cybersecurity solutions in Switzerland?

The demand for cybersecurity solutions is increasing due to legal regulations and the growing threat of cyberattacks.

What is the challenge mentioned in the report regarding IT systems?

The challenge is protecting IT systems as more companies move critical resources to the cloud.