High Security Risk Technologies Impacting IT Decision Makers--United States and Europe

LONDON, March 3, 2015 /PRNewswire/ -- The overall research objective of this research was to measure the current use and future decision-making behavior toward information technology (IT), specifically network security technologies. Cloud computing is expected to grow rapidly across verticals and tablet usage is on the rise in the workplace. Both create a greater security risk in the organization, but more than half of the respondents feel that they are highly effective in meeting their organizations' goals. Not surprisingly, large companies invest in high security risk technologies: the larger the company, the greater the value of outsourcing to MSSPs. This study reveals there is much opportunity for network security providers over the next three years.

Research Objectives
The overall research objective of the 4th-quarter 2013 survey was to measure the current use and future decision-making behavior toward information technology (IT), including network security technologies.
Five key industries were targeted for specific feedback:
-Banking/finance/insurance
-Government
-Healthcare
-Manufacturing
-Retail/wholesale

In this study, Frost & Sullivan aims to accomplish the following:
-Assess the current and future use of high security risk technologies in IT
-Identify preferences regarding network security solutions
-Gauge the impact of various growth drivers and restraints such as 4G networks, cloud-based solutions, and data security risks
-Quantify worker type trends
-Find opportunities for network security providers to pursue

Methodology
Using a Web-based survey methodology during September and October 2013, Frost & Sullivan surveyed IT decision makers who were working in businesses located in the United States and in Europe and were involved in the company's IT-related purchases.

Frost & Sullivan's survey methodology uses online panels to source only qualified respondents. Respondents must meet requirements set by a screening process prior to full-survey participation. Online panels consist of individuals who volunteer to participate in Web-based surveys and typically receive compensation directly from their panel membership for participating in qualified survey research. In general, survey respondents do not receive direct compensation from Frost & Sullivan for participating in research projects.

Reporting Notes
Due to rounding, percentages in charts and tables may not sum to .

Executive Summary
-Cloud computing is expected to rapidly grow across verticals over the next few years. Tablets usage is on the rise in the workplace. This growth creates much opportunity for network security companies in the U.S. and European markets.
-With BYOD and COPE growth, companies need to focus on creating policies that diminish the security risk of using personal smart phones and tablets.
-The banking/finance/insurance market segment is the heaviest user of high security risk technologies, with the manufacturing segment coming in second.
-U.S. companies appear to be more inclined to purchase high security risk technologies than European companies for business purposes.
-While cloud computing and mobile and wireless technologies create a greater security risk in the organization, more than half of the respondents feel that they are highly effective for their organization.
-Not surprisingly, large companies invest in high security risk technologies. The larger the company size, the greater the value of outsourcing to MSSPs.
-Interestingly, the larger the business, the less risky these high security risk technologies are perceived. This is likely because they have policies and a plan in place to prevent security breaches.
-This study reveals there is much opportunity for network security providers over the next three years.
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