Monday Morning Impact – October 22

Published On: October 22, 2018Categories: Buzz, Uncategorized

IDC: Worldwide Security Spending to Reach $133.7 Billion in 2022

Worldwide spending on security-related hardware, software, and services is forecast to reach $133.7 billion in 2022, according to a new update to IDC’s Worldwide Semiannual Security Spending Guide. Although spending growth is expected to gradually slow over the 2017-2022 forecast period, the Framingham, Mass.-based market research company expects the market will still deliver a compound annual growth rate (CAGR) of 9.9%. As a result, security spending in 2022 will be 45% greater than the $92.1 billion forecast for 2018.

“Privacy has grabbed the attention of Boards of Directors as regions look to implement privacy regulation and compliance standards similar to GDPR,” said Frank Dickson, research vice president for security products at IDC. “The result is that demand to comply with such standards will continue to buoy security spending for the foreseeable future.”

Security-related services will be both the largest ($40.2 billion in 2018) and the fastest growing (11.9% CAGR) category of worldwide security spending, according to the report. Managed security services will be the largest segment within the services category, delivering nearly 50% of the category total in 2022. Integration services and consulting services will be responsible for most of the remainder. Security software is the second-largest category with spending expected to total $34.4 billion in 2018. Endpoint security software will be the largest software segment throughout the forecast period, followed by identity and access management software and security and vulnerability management software. Hardware spending will be led by unified threat management solutions, followed by firewall and content management.

The report says that banking will be the industry making the largest investment in security solutions, growing from $10.5 billion in 2018 to $16.0 billion in 2022. Security-related services, led by managed security services, will account for more than half of the industry’s spend throughout the forecast. The second and third largest industries, discrete manufacturing and federal/central government ($8.9 billion and $7.8 billion in 2018, respectively), will follow a similar pattern with services representing roughly half of each industry’s total spend. The industries that will see the fastest growth in security spending will be telecommunications (13.1% CAGR), state/local government (12.3% CAGR), and the resource industry (11.8% CAGR).

The United States will be the largest geographic market for security solutions with total spending of $39.3 billion this year. The United Kingdom will be the second largest geographic market in 2018 at $6.1 billion followed by China ($5.6 billion), Japan ($5.1 billion), and Germany ($4.6 billion).

Channel Impact®
Security is a priority in virtually every industry as companies seek to meet regulatory requirements and protect customers from all types of attacks. As part of this initiative, companies are also investing in the underlying infrastructure and applications necessary for successful defenses.

Tech Data and Cisco Team up for Branch-level Digital Transformation

Tech Data has announced the launch of Branch Interconnect and Clinic Interconnect, two cloud-managed digital transformation solutions that operate through a single-provider, single-interface, single-invoice managed service for branch industries.

Designed with Cisco networking and security technologies, both products are intended to improve operational efficiencies for branch-oriented industries such as retail, financial services, hospitality, manufacturing, and healthcare, where collaboration across branches can be mission critical.

“Digital is driving how business is done, and we are continuing to create innovative solutions that fully support our customers as they navigate that sea change,” said Phillip Privett, vice president, Cisco Solutions, at Tech Data. “These solutions allow our customers to successfully and efficiently transform how business is done by delivering better means of collaboration among distributed organizations.”

Branch Interconnect includes a web-based dashboard with single sign-on for monitoring, troubleshooting, alerting and ticketing through a single pane of glass, along with single-source billing, service, and support across the solution stack; secure unified collaboration and digital whiteboarding; cloud-managed networking; and advanced security.

Clinic Interconnect targets the rapidly growing and consolidating ambulatory healthcare market. It includes the elements of Branch Interconnect plus the ability to integrate clinical data from disparate healthcare systems through Accreon Cloud Exchange Service (ACES).

Channel Impact®
Specifically targeting digital transformation for healthcare, retail, financial services, hospitality and manufacturing, these new offerings provide the opportunity to accelerate onboarding, lower operational costs and simplify management of branch infrastructure.

Avant Teams with Trustwave to Accelerate Security Channel Sales

Avant Communications, a Chicago-based mater agent, has launched a distribution agreement with MSSP Trustwave. The agreement also includes Avant’s membership in the Trustwave partner program, which includes access to the full security portfolio plus technical support and resources to support sales and marketing campaigns.

“We are pleased to add AVANT to our growing community of managed security services partners,” stated Rick Miller, General Manager of the Americas at Trustwave. “Working with leading technology distributors like AVANT is a core growth strategy for Trustwave as we continue to offer customers compelling and effective solutions that help fight cybercrime. Avant’s fully-enabled and aggressive network of resellers and agents will extend our reach and help us to continue to meet the large managed security market opportunity before us.”

Avant intends to add additional value through channel sales assistance, sales training, sales guidance, and sales tools.

Channel Impact®
Avant becomes the first master agent to enter into a channel sales relationship with Trustwave.

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