5th June, 2020
1 Min read
Book a Demo
Not even the red-hot cybersecurity sector is immune to the major economic downturn resulting from the global coronavirus pandemic. As parts of the world begin to gradually reopen for business as stay-at-home orders lift, many IT security teams now also face a fresh new reality of spending and hiring freezes.
The security industry currently is experiencing an overall slowdown that ultimately could shape the future direction of some security technologies and products – especially as organizations rethink how they operate in the wake of the pandemic. Security industry experts are cautiously calling it a short-term slowdown but admit there’s no way to know just how long or what kind of recovery security will experience.
Reduce your AWS costs by over 50%
Discover your Cloud Saving Potential – Answer just 5 simple questions. AppsFlyer, Playtika, Lufthansa, IBM, top leading companies are already using our FinOps services.
Forecasts are grim, at least in the short term: Gartner estimates a $6.7 billion decrease overall in global security spending in 2020 for software and services as a result of the economic impact of the pandemic, while Forrester Research has warned security teams to expect to see leaner budgets and trimming of their already-thin staffs.
Read more: Dark Reading