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Poll: Gauging the Market Effects of COVID-19

April 1, 2020 | Ask-An-Expert Writeups | Risk Management

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The Challenge: Planning for the Future

The security team for a global marketing agency is interested in the economic impacts of the COVID-19 pandemic and whether any new gaps in markets are opening up. Specifically, the team asks:

  • Does IANS see any new underserved opportunities in the security market?

  • Some players are preparing for a slow-down, while others are ramping up to serve unexpected demands. Who does IANS see struggling or flourishing?

Anything on-premises will struggle in this uncertain time. People will not open up their data centers and invest in infrastructure that needs to be touched and deployed. Communications and collaboration software, virtual private networks (VPNs) and governance, risk management and compliance (GRC) solutions are in demand right now. Software-as-a-service (SaaS) solutions will be in high demand as this winds down and organizations figure out they do not want to support solutions outside of their core competency.


Anything that supports securing remote access and remote data loss prevention (DLP) will be well-positioned. I believe strongly that we will never go back to the complete lack of remote access some organizations had. And those organizations are going to struggle with the idea of "insecure" remote access. The “insecure” is their idea.

 


I would predict a significant increase in cloud and SaaS service deployment rate, along with a correlated decrease in on-premises data center growth. From there, I would directly look to invest in or build technologies that secure cloud infrastructure. I also predict an increase in anything that secures home and consumer internet-of-things (IoT) deployments. Those controls have been lacking in recent years due to lack of fear and thus demand. This will change as employees work more from home and there is an increase in home-based attacks to hit this shift in target location.

 


I expect vendors may start shifting and offering a "free" tier of services in exchange for using the client data to help form new services, etc. While businesses in the past were reluctant to share information, as the markets take a hit, smaller companies may take the deal to save capital.

 

 

Related Insights

COVID-19 and InfoSec: What You Need to Know, March 31, 2020

COVID-19 and the Cloud: Enabling Remote Work and Business as Usual, March 11, 2020

 

Any views or opinions presented in this document are solely those of the Faculty and do not necessarily represent the views and opinions of IANS. Although reasonable efforts will be made to ensure the completeness and accuracy of the information contained in our written reports, no liability can be accepted by IANS or our Faculty members for the results of any actions taken by the client in connection with such information, opinions, or advice.


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