Press Release

Avasant’s RadarView™ forecasts explosive growth in Enterprise CyberSecurity for the Most Innovative Service Providers

Today, Avasant unveiled its second edition of 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: Download Avasant’s Cybersecurity Services 2020 Radarview™ 88-page report here. Naresh Lachmandas, Principal and Senior Fellow at Avasant, congratulated the winners noting, “Enterprises, today, face a real threat of organized, professional cyberattacks supported by nation-states. Additionally, with widescale SaaS-based solutions and IoT enabled device deployment, the risk perimeter is also expanding rapidly. A fundamental shift in security posture, from focusing on data protection to stringent identity and access management is the need of the hour.” Hybrid IT environments and IOT/Digital Workplace devices have permeated enterprises; consequently, the security perimeter has moved from relatively isolated data centers and centralized infrastructure to much more complicated multi-cloud environments. There is, thus, an increased need for next-generation identity and access management solutions, including Identity as a Service (IDaaS) and Privileged Access Management as a Service (PAMaaS). Some of the key findings from the report include:
  • The Manufacturing sector, with its increased adoption of IoT devices and industry 4.0 initiatives, is rapidly becoming the next big adopter of cybersecurity using managed security service providers (MSSPs). It has already reached a 15% share of the cybersecurity market and is just behind the BFSI sector now.
  • Similarly, enterprises in the Asia Pacific region are also becoming more aware of the threat environment and have started investing in cybersecurity. Service providers are expanding their cybersecurity capabilities in the geography to address this need.
  • Globally, there is a growing demand for Security Information and Event Management (SIEM) or Security Orchestration, Automation, and Response (SOAR) solutions that leverage AI/ML technology to help integrate disparate security tools and reduce manual processes and false alarms.
  • New and upcoming data privacy laws by various governments, taking a cue from GDPR, are much more comprehensive in terms of addressing data leakage risk owing to the adoption of technologies such as cloud computing and IoT devices.
Avasant’s Research Leader, Gaurav Dewan, added, “Enterprises need to work with service providers in a much more collaborative and proactive manner to insulate themselves from increasingly sophisticated threats on the expanded risk perimeter. Progressive service providers are also making significant investments in developing security automation tools and leveraging AI-enabled predictive capabilities to protect enterprises from attacks based on Zero-day and inadequate cloud security configuration and control vulnerabilities.” About Avasant: 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. For more information, visit Follow news, photos and video on Twitter at, Facebook at, and LinkedIn at Contact Michelle Roopnarine Marketing Manager Avasant