Publish Date: July 20, 2020
COVID-19 has impacted every economic market, and cybersecurity is no exception. Concerns of spreading infections are driving people to remain vigilant. Businesses continue to favor work-from-home protocols; when working from home is not possible, businesses are enforcing policies for social distancing. This document focuses on NSS Labs’ view of how the pandemic will affect the cybersecurity market through 2021 and beyond.
The heightened awareness this pandemic has created is likely to last much longer than the pandemic itself. Business leaders should adapt and plan accordingly, as many of the pandemic-related changes will become permanent. Businesses leaders will be confronted with the “three Ds”: Distancing, Decentralization, and Depression; social distancing, working remotely vs. in an office (decentralization), and a severe and sustained downturn in economic activity in multiple economies around the world (depression).
The pandemic and economic downturn have forced organizations to reprioritize. CISOs are hesitant to ask for money when CFOs are trying to cut costs to save jobs (or stave off bankruptcy). Organizations have reprioritized to enable remote work and placed all non-essential projects on hold. Technologies that enable remote work will see rapid growth over the next 12-18 months; others will find themselves operating in a challenging environment.
This brief examines changes in market share for products that will experience increased capacity due to demand, and those markets that stall, see slower growth or be forced to absorb migration.
As a service to the community, NSS Labs is providing this analysis for free.