Switzerland’s banking industry and reputation for data protection give an edge to local security providers, ISG Provider Lens report says
A long tradition of sovereignty, privacy and independence is leading enterprises in Switzerland to choose local providers to address their growing cybersecurity concerns, according to a new research report published by Information Services Group, a leading global technology research and advisory firm.
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“Data protection has always been paramount for Swiss enterprises”
The 2023 ISG Provider Lens™ Cybersecurity – Solutions and Services report for Switzerland finds that many Swiss firms appreciate the local presence of service providers, not only for their proximity, but also for support that is speedy and relatively uncomplicated.
“Clients in Switzerland often prefer providers from Switzerland,” said Roger Albrecht, partner and co-leader, ISG Cybersecurity, based in DACH. “For success in the Swiss cybersecurity market, ‘Swissness’ can be key.”
Although quantifying threat risks and proving the ROI of cybersecurity measures hasn’t been easy, Swiss executives are steadily coming to the realization that cyberattacks can lead to massive, possibly existential, financial and image damage. A shortage of qualified resources and the need for constantly updated specialist knowledge are prompting many Swiss companies to turn to managed security services for assistance.
Because small and medium-sized enterprises (SMEs) typically have less mature IT systems than large enterprises, there has been stepped-up demand for cybersecurity solutions in this sector, the ISG report says. Cybersecurity providers seeking to grow at an above-average rate in Switzerland should focus more on the needs of these companies, ISG says.
The growth in demand for local cybersecurity services isn’t limited to SMEs. According to the ISG report, legal regulations are forcing companies of all sizes to implement strong security measures, especially for data protection, a top priority in a country known worldwide for its banking industry. This longstanding reputation for data protection and privacy has made security operations centers based in Switzerland appealing to large clients as well, the report says.
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“Data protection has always been paramount for Swiss enterprises,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “With GDPR, its importance has increased even further.”
The report also examines how the growing trend toward moving critical corporate resources to the cloud has increased the challenge of protecting IT systems.
The 2023 ISG Provider Lens™ Cybersecurity – Solutions and Services report for Switzerland evaluates the capabilities of 100 providers across seven quadrants: Identity & Access Management (IAM), Data Leakage/Loss Prevention (DLP) & Data Security, Extended Detection & Response (XDR), Security Service Edge (SSE), Strategic Security Services, Technical Security Services and Managed Security Services – SOC.
The report names IBM as a Leader in six quadrants and Eviden (Atos) as a Leader in four quadrants. Accenture, HCLTech, Microsoft and Swisscom are named as Leaders in three quadrants each, while Broadcom, Capgemini, Deutsche Telekom, Forcepoint, InfoGuard, ISPIN, Palo Alto Networks, Trend Micro, United Security Providers and Wipro are named as Leaders in two quadrants each. Aveniq, Axians, Bechtle, Cato Networks, Cisco, CrowdStrike, Deloitte, DXC Technology, Ergon, Fortinet, Fortra, KPMG, Matrix42, Netskope, Nevis, Okta, Orange Cyberdefense, Ping Identity, SentinelOne, TCS, Trellix, Versa Networks and Zscaler are named as Leaders in one quadrant each.
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