The Year of Managed Security

The year 2017 has been dubbed as the year of managed security. As IP theft soared to over 56% this year, with the average costs of these breaches going way beyond $2.5 million for every incident, the executives from numerous industries have come to recognize the effect that lack security can impose on their ventures. This is not only in terms of profitability and customers but even on the overall reputation of a business. This is not to mention those significant fines coming from the compliance charges. This is the very reason why an increasing number of organizations have now turned to cloud based managed security providers that will be able to help them in mitigating their risks. Managed security providers which can give both managed security and managed infrastructure can render a more comprehensive solution for all smart IT decision makers.

Based on the reports taken from a certain study, the organizations that move to the cloud are now faced with brand new challenges in security which cannot be addressed or resolved using the conventional security approaches. There is no way for secure clouds to existing with no proper cloud security expertise.

Around 61 percent of organizations have plans to train as well as certify their existing IT staff in cloud security in order to make sure that only the right cloud security controls will be implemented internally as well as with third party providers of cloud services.

The organizations have come to realize that their existing IT teams must also stay updated with the newest evolving cloud technologies, mitigation strategies, and threats. Aside from that, 45 percent of organizations have plans to work with managed security services providers, with 42% of them deploying added security software for protecting applications and data in the cloud.

Age of Internet of Things and Managed Security

This year, companies have put some systems in place for Internet of Things as well as wearables, and their effects on corporate security. However, many still lack the solution or even a plan as to how they can do it.

In year 2020, around 21 billion IoT devices are going to be used all over the world, with around 6 percent for industrial IoT applications. This market is also expected to grow to as much as $1.3 trillion by that time. It is further fueled by the ever increasing expectations of consumers and the changing regulatory landscape.

Together with the increased and more widespread adoption of the IoT connected devices, there are also growing concerns on network and data security. It is predicted that this year, 50 percent of the IoT devices have been made by companies which are younger than 3 years old. In the age of Internet of Things where technology moves rapidly, enterprises should always prioritize security, and understand that security reliability of these devices is a must before they connect these to their network.

The Internet of Things necessitates the cloud to work, with the cloud evolving to better serve it. While there might be some downsides, there is no denying that managed security will further improve in the future.

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