An increasing number of enterprises
recognize the financial and reputational threat a single targeted
attack can pose, ISG Provider Lens™ report says
Faced with an upsurge in cyberattacks and a shortage of
qualified cybersecurity experts, enterprises in Germany are
increasingly turning to external providers for support, 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 Germany finds the need for enhanced
cybersecurity is particularly acute among Germany’s small and
medium-sized enterprises (SMEs). The rise in frequency and
sophistication of cyberattacks is often more than these companies
can handle on their own and has led to an increased reliance on
external services, such as security operations centers. Rather than
simply reacting to attacks, these services take a more proactive,
AI-based approach to keep pace with potential threats, the ISG
report says.
“AI and quantum technology pose new threats for German
enterprises, yet they also present new opportunities for
cybersecurity service providers,” said Dr. Matthias Paletta,
director, technology modernization, for ISG in Germany. “Service
providers that are able to address both large companies with their
large budgets and SMEs with their dynamically growing demand have
an advantage here.”
Among German enterprises, SMEs represent an attractive market
segment for cybersecurity providers, the ISG report says. Although
their IT security systems are often less mature than those of
larger companies, they still face many of the same threats and are
compelled to upgrade their systems as a result, the report says. In
short, these companies have a lot of catching up to do.
This predicament has led to above-average growth in demand among
SMEs for cybersecurity solutions, ISG says. For potential providers
intent on appealing to this segment, sensitivity to distinct forms
of communication and cultural aspects are particularly important,
the ISG report says.
Despite the growing importance of cybersecurity, some IT
managers continue to face resistance from company stakeholders,
especially CFOs, when attempting to make a business case for
investing in cybersecurity, the ISG report says. A weak Germany
economy has made this already difficult task even more challenging,
the report says. Unlike with other IT projects, it is not always
possible to prove the ROI of cybersecurity investments. Nor is it
easy to quantify threat risks, ISG says.
“A growing number of German enterprises recognize that
cyberattacks can lead to massive financial and reputational
damage,” said Jan Erik Aase, partner and global leader, ISG
Provider Lens Research. “As a result, senior management is becoming
steadily more involved in cyber risk management.”
The report also examines how managed security service providers
(MSSPs) are turning to automation and AI to combat cyber
threats.
For more insights into the cybersecurity challenges that
enterprises in Germany face, including a shortage of specialists
and an increased attack surface, 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 Germany evaluates the capabilities of 109
providers across eight quadrants: Identity and Access Management,
Data Leakage/Loss Prevention and Data Security, Extended Detection
and Response (Global), Security Service Edge (Global), Technical
Security Services, Strategic Security Services, Managed Security
Services – SOC and Managed Security Services – SOC (Midmarket).
The report names IBM as a Leader in six quadrants, while Axians,
Deutsche Telekom and Eviden are named as Leaders in four quadrants
each. Accenture, Bechtle, CANCOM, Capgemini, Controlware and
Microsoft are named as Leaders in three quadrants each, while
Broadcom, Computacenter, Forcepoint and Palo Alto Networks are
named as Leaders in two quadrants each. Cato Networks, Cisco,
CrowdStrike, DATAGROUP, Deloitte, DriveLock, DXC Technology,
Fortinet, Fortra, GBS, HCLTech, Infosys, KPMG, Matrix42, Netskope,
Okta, Orange Cyberdefense, Ping Identity, SailPoint, SentinelOne,
TCS, Trellix, Trend Micro, Versa Networks, Wipro and Zscaler are
named as Leaders in one quadrant each.
In addition, CyberArk, HCLTech, Materna Radar, Skyhigh Security,
suresecure, Trellix, Wavestone and Zscaler are named as 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 CANCOM,
Controlware, DATAGROUP, DriveLock and Materna Radar.
The 2024 ISG Provider Lens™ Cybersecurity - Solutions and
Services report for Germany 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240719143740/en/
Press: 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
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