Documents/RS

IT Security Industry To Expand Tenfold

Strategic_Plan

Start: 2013-08-14, Publication: 2013-08-14

Source: http://www.forbes.com/sites/richardstiennon/2013/08/14/it-security-industry-to-expand-tenfold/

Submitter:

Name:Owen Ambur

Email:Owen.Ambur@verizon.net

Organization:

Name:Richard Stiennon

Acronym:RS

Description:
Forbes Contributor -- I cover the IT security industry for IT-Harvest. I am the author of Surviving Cyberwar, a Government Institutes book available on Amazon. I have presented at conferences and industry events in 26 countries on six continents. I am a prolific source for journalists and news media.

Stakeholder(s):

  • Forbes

  • Governments: Governments around the world have commandeered the Internet, as Bruce Schneier so succinctly points out in The Atlantic.

  • Bruce Schneier

  • The Atlantic: http://www.theatlantic.com/technology/archive/2013/08/the-nsa-is-commandeering-the-internet/278572/

  • IT Security Industry: How is that going to impact the IT security industry? This $60 billion industry researches, develops, and sells firewalls, anti-malware, authentication, encryption, and 80 other categories of products. With each advance in the threat level represented by hackers, cyber criminals, and cyber spies there has been a new batch of vendors which come on the scene to counter threats that bypass previous technologies and spending has increased. http://www.forbes.com/sites/richardstiennon/2013/07/29/nsa-surveilance-extends-the-threat-hierarchy/ Spending on IT security is poised to grow tenfold in ten years.

  • Oil & Gas Refiners: Every organization from the largest oil and gas refiner, to the smallest bank has underspent on security. Classic risk management methodologies call for trade-offs in security. Unlikely events, Black Swans, are not accounted for.

  • Banks

  • Defense Contractors: This protect-against-the-known philosophy is what led to most defense contractors and even the Department of Defense being completely vulnerable to sophisticated targeted attacks from foreign spy agencies. The recent rapid growth of technology vendors to ward off cyber attacks is a blip compared to what is coming. http://online.wsj.com/article/SB124027491029837401.html.html

  • Department of Defense: http://www.foreignaffairs.com/articles/66552/william-j-lynn-iii/defending-a-new-domain

  • Chinese Cyber Spies: Even the most sophisticated Chinese cyber spies do not appear to be well funded. They use shelf ware and their teams work regular hours.

  • NSA: The NSA on the other hand is shockingly replete with funds.

  • US Intelligence Community: The US Intelligence Community budget of $70 billion is twice the size of the Australian military budget.

  • GCHQ: The NSA has donated $160 million to its sister agency, GCHQ, in the UK for intelligence gathering. The investment in creating Total Information Awareness over the last decade has stunned the industry.

  • IT Security Vendors: There will be a response to this threat against all communications. That response will be hundreds of new IT security vendors cropping up all over the world.

  • US Companies: Thanks to a dramatic increase in distrust of US companies this boom in technology will not be centered on Silicon Valley.

  • Cloud Providers: Just as the draconian anti-encryption measures of the ‘90s drove development offshore, major cloud providers will have to push their engineering and research into countries that are more open and considerate of privacy and transparency.

  • Engineers: As engineers do, great minds around the world are today figuring out the technology to route around surveillance. The market is there. Funding will be readily available.

  • Huawei: It will be the ultimate irony if a tech giant like Huawei becomes a trusted provider of infrastructure because there is less chance that its executives are secretly working with the NSA.

  • Roger Grimes: What is needed to re-establish trustable communications? Roger Grimes sums up the difficulty, although his conclusion, to not use the Internet, is defeatist. http://podcasts.infoworld.com/d/security/anonymous-not-anonymous-224783?page=0,1&source=rss_