Network on the Hook to Secure Enterprise IoT
IoT devices have been a cause for concern for consumers for the past several years now; however, we are just starting to see the impact that insecure IoT could have on larger targets, including enterprises. For an already burdened security team, the increase in insecure IoT network connections adds another set of concerns to their growing ‘to do’ list. The cost of adding security to each IoT device or network-connected application is too high – both for organizations who purchase the products and the device makers who manufacture them. Rather than focusing on the devices themselves, we will see an increase in businesses looking to secure the entire network instead of each individual endpoint, which can help minimize both the risk and cost involved with maintaining security across IoT devices.
Doubling Down on Bug Bounties
Bug bounties – programs set in place by enterprises to pay white hat hackers who discover and disclose vulnerabilities in their products – took on a renewed prominence in 2017 as more and more organizations introduced or expanded their offers. With heightened focus on not only organizations’ products, but also their practices, we are likely to see more enterprises use bug bounties to both ensure their offerings are safe and demonstrate their commitment to ethical conduct. In 2018, we can expect to see increased rewards and more incentive-based programs as companies look to use bug bounties as a way to appear transparent and dedicated to safety for both themselves and the broader public.
Security Spend to Soar Across the Network
The rise in high-profile cyberattacks in 2017 has led many organizations to reconsider how they are allocating their security budget in 2018. While much of the IT department is feeling the need to do more with less, the percentage of budget that is allotted to security is continuing to grow. A recent study from PwC and Juniper Networks shows that security is the most important priority for both CIOs and VPs of IT when it comes to their network solutions. Rather than dedicating funds to standalone security products, though, we’re likely to see security spend across more parts of the infrastructure. As security is embedded into each component of the network, we can expect that more security dollars will be invested across the network infrastructure, not just in standalone security solutions.
Acquisition of Point Products on the Rise
Innovation within the security industry is at an all-time high, with countless startups and smaller security organizations developing products that can greatly benefit organizations’ security. However, the majority of these products are point solutions that provide security for a small piece of the overall infrastructure. Conversely, larger organizations often have a wide-ranging security portfolio that can address many pieces of security infrastructure, but may lack the specific approach that a niche player has developed. Given these mutual needs, we are likely to see more of these innovative companies acquired by larger organizations who embrace the innovation and are able to incorporate these solutions into a broader security ecosystem. Consolidation will be king in 2018.