News in the Channel - Issue #6

NEWS

based secure network solutions,” said David Canellos, CEO of Ericom. “The acquisition enhances our ability to meet the cybersecurity needs of global enterprises as they accelerate their rapid adoption of 5G technologies. We look forward to this exciting new chapter and its opportunities.” Cradlepoint provides 5G for business solutions and is a main driver of Ericsson’s enterprise aspirations. Its SD-WAN and security strategy is based on the belief that enterprises will not deploy multiple vendor solutions to address their wireless and wireline network infrastructures. As a result, Cradlepoint will offer the NetCloud Threat Defense cloud service built to interoperate

with the company’s recently announced NetCloud Exchange SD-WAN offering. While optimised for 5G, NetCloud Threat Defense will be for enterprise-wide deployment across any infrastructure. “Cradlepoint is pleased to welcome Ericom and its advanced, cloud-based security and zero trust products and technology to our family of enterprise wireless solutions,” said George Mulhern, CEO of Cradlepoint and SVP of Ericsson’s Enterprise Wireless Solutions group. “We can now deliver a comprehensive SD-WAN and SASE solution for Wireless WAN and private cellular networking, leveraging 5G while addressing the wireline needs of enterprise customers.”

George Mulhern CEO, Cradlepoint, SVP, Ericsson’s Enterprise Wireless Solutions

Financial sector set to drive growth in security spending in Europe

Growing security needs, new regulations and the increasing risk of ransomware attacks due to the current geopolitical situation continue to drive European security spending, according to IDC’s Worldwide Security Spending Guide . IDC says that total European spending will grow by 10.6% in 2023. Spending in the region will continue to see almost double-digit growth over the forecast period, with total spend reaching $71 billion in 2026. The UK, Germany and France are the top spenders on security, together accounting for more than half of the European security market. In Central and Eastern Europe, Czech Republic will have the fastest growth in 2023, at over 12% YoY. “IDC research shows that ongoing disruptions and a dynamic threat landscape have led European organisations to rethink their cyber resilience and proactively ensure their organisation maintains good cyber hygiene,” said Romain Fouchereau, research manager, IDC European Security. “Adopting zero-trust principles to harden security measures and implement secure access controls across networks, applications, and devices has become a top priority, with a defined strategy and support from senior management for new investments and initiatives.” European spending on software will lead YoY growth in 2023, with about 11%, but security services will see the largest spending

in 2023, reflecting its key role for European organisations across industries. “We’re seeing that in addition to software and hardware, European companies also have a very real need for security services to guarantee their continued operations and regulatory adherence,” said Vladimir Zivadinovic, senior research analyst, IDC European Data and Analytics. “This is especially true for organisations with limited competencies in security, especially SMBs in less digitally mature verticals such as media, manufacturing and healthcare.” In 2023, the finance sector will have the highest spending in Europe, driven by the need for data protection and regulatory compliance. At the same time, market dynamics are pushing financial institutions to increase their responsiveness and agility. Security services will be pivotal to unlock the full potential of their internal IT teams to focus on new services and improved customer experience. Finance will be closely followed by manufacturing, with the government sector having the third-largest spending in 2023. Manufacturing will continue to focus on protecting its industrial assets, which will be increasingly connected with the enterprise IT network. The government sector will continue to invest in data protection and in executing its digital transformation initiatives, which are being targeted by ever more sophisticated ransomware attacks.

Romain Fouchereau research manager IDC European Security

idc.com