The cybersecurity of corporations is currently in strong transition phase. The amount of high profile information security break-ins has been growing strongly and the uncertainty in global political environment is not decreasing the ambitions of the criminal community. Just a moment ago the world was more one-dimensional and predictable. Earlier the information security focused in firewalls and virus protection but now we have moved to era when the companies need new mind setting and cyber security experts to fight the cyber criminality. If the information security was earlier considered only as IT matter, it is today an integral part of the companies’ business strategy.
Since the need to invest in cybersecurities is related to larger social and technological growth drivers the growth of our industry is not significantly dependent of the growth in economy or IT markets. The key effects supporting the growth in cybersecurity are:
Digitalization of the society
The rapid digitalization of society is a megatrend that is growing the cybersecurity market in the coming years. The Covid-19 pandemic has contributed to accelerating the digitization of society, while emphasizing the importance of cybersecurity for society as a whole. At the same time, it also supports the demand for Nixu’s services as new digital business models are not sustainable without comprehensive cybersecurity and reliable identity management.
The growth in cyber criminality
The rise in cybercrime is a megatrend that will strongly grow the cybersecurity market. Factors such as the expanding use of cloud services, digital transactions, and remote access to industrial control have increased the impact achieved by cyber-attacks and fueled the growth of cybercrime and state influencing. Cybercrime is expected to increase and evolve strongly in the future, increasing the need for more sophisticated cybersecurity activities in organizations both large and small.
Development of legislation
Legislation imposes increasing demands on actors in society. Increasing regulation and statutory obligations, as well as the reputational and trust risk and financial sanctions asso-ciated with non-compliance, will increase the demand for cybersecurity solutions in the future. An example of this is the EU General Data Protection Regulation (GDPR), which entered into force in 2018 and imposes the same requirements on the protection of personal data and privacy protection in all EU Member States.
CLIENTS IN THREE SEGMENTS
Information management projects involve protecting and overseeing the safety of our client’s information networks, the trade secrets and other information assets therein and the operation of the network’s support systems. A well-working information security management system, which ensures that a specific risk level is applied throughout your partner network, is a vital part of securing your information management. Our typical clients in this segment include IT managers and chief information security officers.
The customer service channels used by clients are becoming increasingly digital. Regardless of whether your clients are businesses or consumers, they must have easy and reliable access to your digital services. Private information collected from consumers is absolutely essential for business. At the same time, the EU Data Protection Regulation requires this information to be carefully protected. Monitoring digital services in order to detect and prevent break-ins is critical for your business credibility. Our typical clients in this segment include electronic business managers and customer service managers.
Traditionally, critical infrastructure environments as well as research and development environments and production automation systems have been isolated from companies’ office networks and the Internet. As the industrial Internet develops further, new remote control and intelligent sensor data analysis capabilities will require more extensive networks and connectivity. This introduces new and bigger threats. Ensuring the safety of logistics services, critical infrastructure, devices under development and the security of intelligent production facilities requires increasingly substantial investments in cyber security. Our typical clients in this segment include product development managers and production managers.
Competitive environment and advantages
The cybersecurity market is fragmented. In addition to the cybersecurity experts, or security boutiques, like ourselves there are companies that specialize in information security technologies, IT integrators, international consultant and audit organizations as well as tele operators. Nixu’s segment separates from the general market with its specialization and expertise. In many other segments the cybersecurity is not the main operation but side products and services that supports and supplements other operations. Nixu cooperates with several various operators in the segment.
Measured with the amount of experts we are the largest cybersecurity expert service company in Scandinavia. Our competitive advantages are the focus in cybersecurity services, the largest offering in out field as well as our well-known brand. We are technologically independent, which means we can genuinely choose the most suitable solutions independent of the technology. With our long experience and competent experts we can provide solutions that are the best in the field and already tested in practice.