Discover and learn from the new Gartner Magic Quadrant Cyber Security market leaders.
Gartner Magic Quadrant Cyber Security 2020
The need is surging with IT risk management solutions. Most especially in this time of the pandemic. Because more and more cases of cybercrime are reported each day.
Take a look at these statistics:
- It is forecasted by the technology market research firm. According to them, 5 years from now, dependence on risk management solutions will rise. For instance, their study states that up to half or 50 percent of midmarket and enterprises will do.
- Moreover, that is a noteworthy growth. Because in 2018, the statistics were only up to 10 percent. But it shall grow up to 40 percent more in the coming years.
Furthermore, with the special needs of arising crime sophistication. IT risk management and services were also expected to be more proactive.
- The tools shall be better in supporting risk management possibilities
- This includes the IoT or Internet of things.
- Also, better security must be employed with social media platforms. Because most of the businesses today integrate their e-commerce with that.
Here are the qualifications for products to be included in the Gartner Magic Quadrant of Cyber Security.
For instance, products should be:
- Digital asset discovery
- Risk remediation
- Better design for risk analysis workflow
- Compliance content mapping
- Executive and board reporting
- Basic to advanced integrations
In addition to that, vendors need to achieve:
- Annual revenue of at least $4 million. This should be for risk management solutions alone.
- A total of more than 30 paying customers
- At least 25,000 seats
This is a Software as a Service (SaaS) tool. Moreover, this GRC tool specializes in the following:
- Risk and control assessment
- Risk analytics
- Security risk management
ServiceNow gets the third place for execution. Also, it ranked fifth for vision.
What users love about ServiceNow is its excellent product performance. Also, clients do love their advanced integration features. Not to mention how their real-time assessments even exceed user’s expectations.
MetricStream goals cybersecurity risk management capabilities this year. So that is why MetricStream top notches for vision. Also, it received the middle for the execution.
In addition, MetricStream also aims in improving its cyber risk quantification. Not to mention how it innovates more ways in machine learning. Because they aim to learn the ropes of prioritizing. Most importantly, in delivering efficient insights.
Furthermore, the MetricStream exceeds the user’s expectations in a number of fields. For instance, they excel in risk analysis. Also in the field of advanced integrations. Not to mention also in both digital asset discovery and real-time assessments.
On the other hand, IBM places second for vision. And it places in the middle in execution.
IBM then keeps up in innovating Watson’s capabilities. Of which includes investments. Moreover, these are designed to expedite deployment. For instance, in a workflow design with a low-code system.
However, some weaknesses were found. Because there are customers who claimed higher than average spending.
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