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Research roundup: insider threats, IT spend, IoT in cloud

Peter Krass's picture

by Peter Krass on 02/19/2020
Blog Category: advanced-technologies

IT managers are worried about insider threats, but that's not translating into action. Worldwide IT spending this year is on track to top $4 trillion. And IoT analytics are moving to the cloud.

That’s from the latest IT market research. Here’s your tech provider’s roundup:

Insider threats: big worry, small action

IT leaders are worried about insider threats. But they’re not doing much about it.

So finds a new survey of more than 500 IT directors in the United States, the UK and Benelux (Belgium, Netherlands, Luxembourg) region. The survey was commissioned by Egress, a UK-based provider of “human layer security,” and conducted last month by polling firm Opinion Matters.

Virtually all (97%) respondents say they’re significantly concerned about insider threats. In part, that’s because nearly 8 in 10 believe that employees at their organizations have accidentally put data at risk over the last 12 months. More surprisingly, three-quarters believe employees have put data at risk intentionally.

But their worries don’t seem to be translating into action. Fewer than half the respondents say they use either email encryption or secure collaboration tools. And nearly 6 in 10 say they rely merely on employee reporting to alert them to any internal data breach.

“While IT leaders acknowledge the sustained risk of insider data breaches,” says Tony Pepper, CEO of Egress, “bizarrely, they have not adopted new strategies or technologies to mitigate the risk.”

IT spending to top $4 trillion

Worldwide spending on all IT and communications products and services will rise 3.6% this year, to reach a global total of $4.3 trillion, predicts market watcher IDC.

Of that total, commercial and public-sector spending will account for nearly $2.7 trillion, or 63% of the total. The remaining $1.6 trillion, representing 37% of all, will come from consumers, IDC expects.

IT services are coming on strong. This year, IDC expects, just 3 service sectors – managed services, project services and support services – will deliver worldwide sales in excess of $750 billion.

Looking for even faster growth? Look to application development deployment. IDC predicts this service sector will grow by an average of about 11% a year from 2018 through 2023. Other service sectors that IDC predicts will enjoy high compound annual growth rates (CAGR) over that 5-year period are: applications (9% CAGR), infrastructure (8.9%) and systems infrastructure software (6.7%).

Small and midsize businesses (SMBs) will account for about 28% of all IT spending this year, IDC expects. And about a third of what these companies spend will go to IT services.

Contrary to common perception, digital transformation isn’t only for big enterprises. SMBs are increasingly embracing digital transformation too.

“SMBs want to take advantage of both the opportunities digital transformation presents, and the disruption it can mitigate,” says IDC researcher Shari Lava.

For these SMBs, digital transformation is paying off. Lava says what she calls “digitally determined” SMBs are twice as likely to report double-digit revenue growth than their technology-indifferent counterparts.

IoT analytics in the cloud

The Internet of Things is moving to the cloud.

Cloud suppliers will grow their revenue from IoT data and analytics by nearly tenfold over the next few years, predicts ABI Research. The market watcher expects this revenue to hit $56 billion worldwide by 2026, up from $6 billion last year.

That’s not to say it will all be smooth sailing. Today, few of the analytics tools offered by cloud vendors are truly differentiated, and many use pre-built templates. For more advanced and specialized analytics, the vendors rely on partners. ABI says that will need to change. 

“Businesses are moving to an analytics-driven business model, which will require both infrastructure and services for continuous intelligence,” says ABI researcher Kateryna Dubrova. “Cloud vendors' strategies will need to align with this reality.”

 

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