Security Leaders Express Positive Market Sentiment for Enterprise Cyber Security

Cyber Security Hub fielded an email survey to identify enterprise cyber security behavior from the second half of the year and make predictions for the first half of year 2020.

Below, we summarize the enterprise market sentiment about cyber security, take a look at cyber dollar allocations for the New Year and test a few ways that organizations are winning the war about diversity and identifying the next generation of security leaders. You can read the full trends and predictions report online.

Market Sentiment For Enterprise Cyber Security

The overall feeling about the state of enterprise cyber security is that it is improving, according to more than 80% of respondents. The efforts of organizations to create resiliency, compliance and awareness appear to be paying off.

Some believe that things are not improving fast enough, which leaves many organizations struggling to find the starting line. “Our industry often suffers from the ‘fog of more’, caused by venture capitalists backing niche vendors that don’t address the fundamental challenges of cyber security,” said Kayne McGladrey, Director of IT and Security for Pensar Development. Overlooking cyber basics can come at the cost of adding confusion to a crowded marketplace.

The Cyber Spend Allocation For 2020

Good news for most organizations – cyber dollars over the next 6 months are expected to increase (61%) or remain the same (36%) in the first six months of 2020.

The positive outlook on enterprise cyber spending has held true each time we asked security leaders. More importantly, when asking about the previous six months, the prediction has become the plan. Cyber spending does not show any sign of slowing down based on the responses of our cyber professionals.

See Related: Successful Cyber Budgets And Risk Reduction With Diverse Stakeholders

Multiple Ways To Win The War On Security Skills And Talent

In our most recent mid-year benchmark survey, we asked about the on-going talent crisis as a pain point for organizations. More than 90% said that it remained an issue for them. The skills gap and talent crisis for organizations to find the right IT and security personnel is unlikely to go away.

See Related: Task Force 7 Radio: Assessing Human Capital Risks In InfoSec

This time we asked our security professionals about what they are doing to “win the war” on talent and skills. Most respondents say they are maintaining their current activities and behaviors when it comes to the lack of skilled workers. Using interns to expose more people to cyber careers and implementing a mentor program were also cited by many.

Don’t overlook the opportunity to reskill existing workers. They are familiar with the organization and the cost to the business is typically less to invest in reskilling than the costs to recruit and hire new talent.

Depending on the maturity level of the security program, the organization may also find value in outsourcing functions to a consulting firm or managed services provider.

How Does Your Cyber Maturity Compare?

This Cyber Security Hub market report, “Enterprise Cyber Security Trends and Predictions 2020” is a must-read for executives, security leaders, advisors and the supplier/service provider ecosystem to benchmark and prioritize critical security trends.

See Related: Cyber Security Hub Market Reports Archive