Talent Shortage Driving Growth in IT Security Services: Report

Enterprises around the world are turning to security services providers to protect their IT environment from potential cyber attacks amidst the growing shortage in IT security talent.
According to the Global State of Information Security Survey (GSISS) 2017,  a worldwide study conducted by PwC, CIO, and CSO released this month, the talent shortage is a great matter of concern for companies digitalizing their business process.
In the survey, 62% of respondents admitted that they are using service providers to operate their IT security programs. Thanks to the shortage, demand for open-source software is also growing. More than 53% of respondents in the survey said they have employed open-source software to enhance cybersecurity capabilities.
Some organizations, according the report, are relying on managed security services even for highly technical initiatives such as authentication, data loss prevention, and identity management.
Despite the shortage in talent, enterprises have continued on their digital journey and have increased spending on cyber security. Organizations are “understanding that cybersecurity is a vital component that must be adopted into the business framework,” said David Burg, PwC’s US and Global Leader, Cyber security and Privacy.
It is now certain that cloud has become a hit with enterprises of all sizes, because a majority of survey respondents (63%) stated they run IT services in the cloud. Some organizations are even running sensitive business functions on the cloud.
Some analysts cited in the report argue that advanced technologies with cloud architectures can help organizations identify and respond to threats quickly, and ultimately reduce costs.
“Cloud models have become more popular in recent years, and that trend will likely only continue as the benefits become increasingly clear,” Burg added.