Today, Avasant unveiled its pioneering RadarView™ market assessment for Cybersecurity Services. The RadarView™ report covers the top 28 service providers that have shown mature capabilities, future-aligned investments and innovations, and consistent growth in their Cybersecurity offerings. The report recognizes the top service providers as follows:
- Leaders: Accenture, AT&T, HCL, IBM, Secureworks, Symantec, Trustwave, Wipro
- Innovators: Atos|Syntel, British Telecom, DXC, Fujitsu, NTT Security, TCS, Telefonica
- Disruptors: Capgemini, CenturyLink, Cognizant, Infosys, Orange Business Services, Tech Mahindra, Verizon
- Challengers: CGI, LTI, Mphasis, T-Systems, UST Global, Zensar
Download Avasant’s complimentary 89-page report here.
Avasant’s CEO, Kevin S. Parikh, congratulated the winners noting, “Today cybersecurity is an integral enabler of the organization digital strategy and is a key discussion item at F500 boards. Service providers are key levers for enterprises in this journey, but they also need to adapt to the constantly evolving landscape”
As enterprises transition to cloud and integrate digital technologies to generate new revenue streams, there is no longer a secure perimeter and the data-centric security strategy has become critical.
Key research findings include:
- Though Healthcare and BFSI industries constitute 50% of the cybersecurity services revenue, Manufacturing is fast emerging as a high-risk industry for breaches and attacks with the rapid growth in industrial IoT devices and Industry 4.0 initiatives.
- Enterprises are changing the way they identify, select and engage with third party outsourcers, with security criteria being core in the provider evaluation.
- It’s imperative for enterprises to have an independent second line of defense (Enterprise Risk Management team) that reviews and checks the first line (Core Information Security team), and involve financial controller and HR for effective security posture.
- Its critical to elevate CISO up in the corporate ladder and directly report to the board, and involve at the beginning of business projects which ensures they are delivered securely for launch, hence mitigate reputation damage and financial loss.
- Cyber insurance premiums written have increased by 50% from 2015 to 2017 and expected to touch USD 10B in next 3 to 5 years, owing to increase in number of cyber data breaches and the transition to cloud-based services.
Avasant’s Research Director, Swapnil Bhatnagar, added “As enterprises re-define their security strategy and align it per emerging threat landscape, their dependency on providers for specialized cybersecurity needs has increased. To address this rising demand and remain competitive service providers need to invest in talent development, enhancing organization structures and expanding partner network to strengthen their security portfolio.”
Avasant is a leading management consulting firm focused on translating the power of technology into realizable business strategies for the world’s largest corporations. Specializing in digital and IT transformation, sourcing advisory, global strategy, and governance services, Avasant prides itself on delivering high-value engagements through industry-focused innovation and flexible client-based solutions.
Our seasoned professionals have an average of 20 years of industry-honed expertise, having conducted 1000+ engagements in over 50 countries. Avasant’s next generation consulting and advisory methods have made it the top-ranked firm in its class, with recognition from numerous organizations, including: Vault, NOA, IAOP, and Wall Street Journal.
Avasant’s engagement in the global market has inspired a strong commitment to community and purpose. Avasant Foundation supports technology and skill development programs to create employment opportunities for youth across Africa, Asia, the Caribbean and Latin America.
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