There’s a slowdown coming in cybersecurity spending. Cisco rules the cybersec roost. And embedded hardware security is coming to edge devices.
These are the latest cybersecurity trends according to top IT market watchers. Here’s your tech provider’s roundup of these 3 hot trends.
Trend 1: Spending growth is slower than expected
Cybersecurity spending this year isn’t going to grow as fast as expected.
Back in December, Gartner predicted that worldwide cybersec spending would grow this year by nearly 9%. Now the research and advisory company has lowered its growth forecast to just 2%.
The reason? The COVID pandemic. “Like other segments of IT, security will be negatively impacted,” says Gartner VP Lawrence Pingree.
Yet Gartner does expect spending in a few segments to grow significantly. The biggest spending rise is forecast for cloud security. Gartner now thinks worldwide spending on this area will rise 33%, reaching $3.28 billion.
Trend 2: Top cybersec vendors
The world’s leading cybersecurity vendor in the first quarter of this year was Cisco. According to analysis firm Canalys, Cisco captured 9.1% of all cybersec spending worldwide in Q1.
After Cisco, Q1's top cybersec vendors according to Canalys were: Palo Alto Networks (with a 7.8% global market share), Fortinet (5.9%), Check Point (5.4%) and Symantec (4.7%).
Cisco was also notable for its quick response to the rise in remote working. As Canalys points out, Cisco extended free licenses for its Umbrella, Duo Security and AnyConnect Secure Mobility Client products. And it did so for both new and existing customers. Cisco also announced a $2.5 billion program to help keep its supply pipeline healthy.
Trend 3: Embedded hardware security
Traditionally, cybersecurity has been done with software, but that’s a poor fit for Internet of Things (IoT) and edge devices. Instead, this end of the IT industry is seeing a big rise in embedded hardware security.
That’s led ABI Research to predict that worldwide shipments of secure hardware for digital authentication and embedded security will double from 2019 to 2024, reaching a total of 5.3 billion units.
Hardware-based security offers better protection from manipulation and interference than software, ABI explains. Hardware is simply more difficult to alter or attack.
Yet there’s plenty of room for growth. ABI estimates that fewer than 10% of all IoT devices are now protected by hardware security.
Looking for a solution in this area? You’ll find plenty of options. Companies offering hardware security for edge devices include such well-known suppliers as Intel, Texas Instruments and Samsung, as well as more specialized suppliers including Nuvoton, Gemalto and Kudelski.