U.K. Firms Conduct Orchestrated Approach to Cybersecurity

Rhea-AI Summary

The 2024 ISG Provider Lens™ Cybersecurity report for the U.K. highlights a trend among enterprises to integrate individual security tools into a unified security framework. This approach aims to counter increasingly complex cyberattacks by improving threat visibility and response times. The report emphasizes the growing strategic importance of cybersecurity, with businesses aligning security measures with overall goals and including cyber experts on corporate boards.

Key findings include:

• Adoption of unified management interfaces for consolidated security functions
• Focus on creating a cybersecurity awareness culture across organizations
• Increasing trend towards cyber risk quantification services
• Evaluation of 112 providers across eight cybersecurity quadrants

The report names several companies as Leaders in multiple quadrants, including IBM, Accenture, BT, Capgemini, and Deloitte.

Positive

• Integration of security tools into a unified framework improves threat visibility and response times
• Growing trend of including cyber experts on corporate boards
• Increased focus on creating a cybersecurity awareness culture across organizations
• Adoption of cyber risk quantification services among U.K. enterprises

Negative

• Heightened risk of cyberattacks in terms of frequency, complexity, and sophistication
• Economic downturn leading to increased scrutiny of cybersecurity spending and ROI

Insights

Tech Expert

As a tech expert, I find this report on U.K. cybersecurity trends highly relevant for investors in the technology and cybersecurity sectors. The shift towards integrated security frameworks is a significant development that could reshape the competitive landscape.

Key takeaways include:

• U.K. enterprises are moving towards unified security frameworks, combining tools like IAM, XDR and SSE. This trend could benefit providers offering comprehensive, integrated solutions.
• There's a growing emphasis on cyber resilience as a business strategy, not just an IT concern. This could drive increased demand for cybersecurity services and solutions across various industries.
• The adoption of cyber risk quantification services is on the rise, potentially opening new market opportunities for firms specializing in this area.

Investors should pay attention to companies like IBM, Accenture and Capgemini, which were named as leaders in multiple quadrants. Their strong positioning could translate to increased market share and revenue growth in the U.K. cybersecurity market.

However, it's important to note that the cybersecurity landscape is highly competitive and rapidly evolving. The recent incident with CrowdStrike, while not a cyberattack, highlights the potential risks and complexities in this sector. Investors should carefully evaluate companies' ability to maintain service quality and quickly address issues as they arise.

Financial Analyst

From a financial perspective, this report signals potential growth opportunities in the U.K. cybersecurity market. The increasing integration of security tools and the elevation of cybersecurity to a board-level concern suggest rising investment in this sector.

Key financial implications include:

• Potential revenue growth for companies offering integrated security solutions, as U.K. enterprises seek to streamline their security operations.
• Increased demand for cybersecurity expertise at the board level could drive up valuations for firms with strong advisory capabilities.
• The focus on ROI during economic downturns might favor established players with proven track records, potentially challenging smaller or newer entrants.

Investors should monitor the financial performance of leaders identified in the report, such as IBM, Accenture and Deloitte. Their multiple leadership positions could translate to strong revenue streams from the U.K. market.

However, it's important to note that the cybersecurity market is highly competitive and subject to rapid technological changes. Companies will need to continually invest in R&D to maintain their market positions, which could impact profit margins in the short term.

The trend towards cyber risk quantification services could also create new revenue streams for firms that can effectively monetize these offerings. Investors should look for companies demonstrating growth in this area as a potential indicator of future financial performance.

Market Research Analyst

As a market research analyst, I see this report as indicative of significant shifts in the U.K. cybersecurity market landscape. The trend towards integrated security frameworks and the elevation of cybersecurity to a strategic business concern are reshaping market dynamics.

Key market trends to watch:

• The demand for unified security management interfaces could drive consolidation in the market, as smaller, specialized providers may struggle to offer comprehensive solutions.
• The growing emphasis on cyber resilience and board-level involvement in cybersecurity decisions could lengthen sales cycles but lead to larger, more strategic contracts.
• The focus on employee awareness and training presents a growing sub-market within the broader cybersecurity sector.

The report's quadrant analysis provides valuable insights into market leadership. Companies like IBM, Accenture and BT appear well-positioned to capitalize on these trends. However, the presence of numerous leaders across different quadrants suggests a fragmented market with opportunities for specialization.

The mention of cyber risk quantification services as a growing trend is particularly interesting. This could represent a new battleground for market share, with providers racing to establish leadership in this emerging niche.

Investors and market participants should closely monitor how these trends evolve and impact market share distributions. The ability of companies to adapt to these changing market demands will likely determine their future success in the U.K. cybersecurity landscape.

A growing business-wide awareness of security threats helps employees understand their role in safeguarding enterprise assets, ISG Provider Lens™ report says

LONDON--(BUSINESS WIRE)-- Enterprises in the U.K. are responding to a heightened risk of cyberattacks by integrating individual security tools into a unified security framework, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for the U.K. finds that security tools such as Identity and Access Management (IAM), Extended Detection and Response (XDR) and Security Service Edge (SSE) are increasingly being used in concert by U.K. enterprises to counteract cyberattacks that are growing in frequency, complexity and sophistication. Effectively harmonizing these disparate and potentially discordant elements of a security ensemble can improve threat visibility, detection and response times while streamlining security operations.

“Providers are developing unified management interfaces that consolidate various security functions into a single dashboard,” said Anthony Drake, partner and head of ISG in the U.K. and Ireland. “This simplifies administration and provides a more holistic view of the security landscape.”

Cybersecurity is becoming a strategic component that aligns security measures with overall business goals, the ISG report says. Now that cybersecurity is viewed not just as an IT issue but as a business problem, business and cyber leaders have begun working together on cyber-related topics, the report says. There is a growing trend toward including cyber experts on corporate boards, ISG says. This is particularly important in the time of an economic downturn when U.K. enterprises are seeking heightened assurance of the quality and return on investment (ROI) of their cybersecurity spends, the ISG report says.

By incorporating cyber resilience into their business strategy, enterprises in the U.K. can ensure that cybersecurity remains a priority at all levels of the organization, from the board of directors to front-line employees, the ISG report says. This helps to create a cybersecurity awareness culture and ensures that employees understand their role in protecting the enterprise’s assets, the report says. To further increase this awareness, enterprises should focus on providing regular and engaging training sessions that cover trends such as phishing and social engineering techniques, ISG says.

“A well-defined cyber resilience strategy is no longer optional for U.K. enterprises,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Businesses need to develop a comprehensive roadmap for cyber resilience that is aligned with business goals.”

The report also examines the growing trend toward adoption of cyber risk quantification services among U.K. enterprises.

For more insights into the cybersecurity challenges that enterprises in the U.K. face, including balancing security with cost and guarding against supply-chain attacks, and ISG’s advice for addressing them, see the ISG Provider Lens™ Focal Points briefing here.

The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for the U.K. evaluates the capabilities of 112 providers across eight quadrants: Identity and Access Management, Extended Detection and Response, Security Service Edge, Technical Security Services, Strategic Security Services (Large Accounts), Strategic Security Services (Midmarket), Managed Security Services – SOC (Large Accounts) and Managed Security Services – SOC (Midmarket).

The report names IBM as a Leader in five quadrants, while Accenture, BT, Capgemini, Deloitte, Eviden, HCLTech, TCS and Wipro are named as Leaders in three quadrants each. Broadcom, Claranet, Cyderes, EY, Integrity360, Microsoft, NCC Group, Orange Cyberdefense and Palo Alto Networks are named as Leaders in two quadrants each, while Adarma, Bridewell, Cato Networks, Cisco, Computacenter, CrowdStrike, CyberArk, Forcepoint, Fortinet, Infosys, Netskope, NTT DATA, Okta, Ping Identity, Redscan, SailPoint, SecurityHQ, SentinelOne, Tech Mahindra, Thales, Trend Micro, Versa Networks and Zscaler are named as Leaders in one quadrant each.

Aase, the head of ISG Provider Lens Research, noted CrowdStrike was named a Leader in one of the report’s quadrants before the recent incident involving a failed CrowdStrike software update impacted global computer systems. He said ISG stands by its research and rating of CrowdStrike.

“CrowdStrike is one of the largest providers of cybersecurity solutions in the world. It’s important to note the recent computer outages were not caused by a cyberattack, but a failed software update that impacted Microsoft 365 systems,” said Aase. “These outages, while highly disruptive, underscore the complexity and interconnectedness of modern ecosystems and the need for ongoing cyber vigilance.”

In addition to the Leaders named above, BeyondTrust, EY, Infosys, Rackspace Technology, Saviynt, SecurityHQ, Skyhigh Security, Thales, Trellix, Trustwave and Wavestone are named Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

In the area of customer experience, Zensar Technologies is named the global ISG CX Star Performer for 2024 among Cybersecurity – Solutions and Services partners. Zensar Technologies earned the highest customer satisfaction scores in ISG's Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry.

Customized versions of the report are available from BT, Computacenter and IBM.

The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for the U.K. 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 insights 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, Mexico, 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.

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 AI and 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 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/20240726122714/en/

Press:



Sarah Ye, ISG

+44 7833 567868

sarah.ye@isg-one.com



Will Thoretz, ISG

+1 203 517 3119

will.thoretz@isg-one.com

Source: Information Services Group, Inc.

FAQ

What is the main trend in cybersecurity for U.K. enterprises according to the ISG report?

The main trend is the integration of individual security tools into a unified security framework to counteract increasingly complex cyberattacks and improve threat visibility and response times.

How are U.K. enterprises addressing cybersecurity awareness?

U.K. enterprises are focusing on creating a cybersecurity awareness culture by providing regular training sessions on topics like phishing and social engineering techniques, ensuring employees understand their role in protecting company assets.

Which companies were named Leaders in multiple quadrants in the ISG Provider Lens™ Cybersecurity report for the U.K.?

IBM was named a Leader in five quadrants, while Accenture, BT, Capgemini, Deloitte, Eviden, HCLTech, TCS, and Wipro were named Leaders in three quadrants each.

What is the significance of cyber risk quantification services mentioned in the ISG report?

The report notes a growing trend towards adoption of cyber risk quantification services among U.K. enterprises, which helps in assessing and managing cybersecurity risks more effectively.

How is the economic downturn affecting cybersecurity strategies in the U.K., according to the ISG report?

The economic downturn is leading U.K. enterprises to seek heightened assurance of the quality and return on investment (ROI) of their cybersecurity spending, emphasizing the need for effective and efficient security measures.