German firms suffer more than twice as much damage from cyberattacks since pandemic began

German companies facing a shortage of cybersecurity professionals as the pandemic creates new avenues of attack, new report found. 

The ISG Provider Lens Cybersecurity Solutions & Services Report for Germany found that German enterprises are overwhelmed due to a shortage of qualified cybersecurity professionals. As a result, many German companies are turning to managed service providers and other cybersecurity firms to assist with their security needs. Many of these providers are increasingly relying on proactive security methods, instead of reactive measures, based on advanced technologies like artificial intelligence.

Enterprises in the country are now beefing up their cyber defences due to the increased risks that come with employees working from home during the pandemic. As companies continue remote work heightened cybersecurity measures are required going forward, the report said. In addition to challenges created by the pandemic, cybercriminals are becoming increasingly sophisticated. Ransomware schemes have become a major problem, creating demand for new cybersecurity measures.

In addition to updated IT security systems, German enterprises need to consider user training services to improve their cybersecurity, the report said. Many cyberattacks, including Trojans and phishing attacks, are caused by careless behaviour by employees.

The EU’s General Data Protection Regulation creates challenges for companies looking to comply with its requirements to implement stronger security measures. The German midmarket is a prime market for cybersecurity service providers, due to midsize companies’ lack of sophisticated security systems.

The increasing use of personal devices for business poses a challenge in preventing data leakage, especially during the pandemic, and many German enterprises are looking for cloud-based data loss prevention tools.

The report evaluated 94 providers across six quadrants: Identity and Access Management; Data Leakage/Loss Prevention and Data Security; Advanced Endpoint Threat Protection, Detection and Response; Technical Security Services; Strategic Security Services; and Managed Security Services.

The report named IBM as a leader in five quadrants, Atos a leader in four quadrants and Accenture, Axians, Capgemini and Microsoft as leaders in three. Bechtle, Broadcom, CANCOM, Computacenter, Controlware, Deutsche Telekom, DXC Technology, Orange Cyberdefense and Trend Micro were named leaders in two quadrants.

Crowdstrike, Deloitte, DriveLock, EY, Forcepoint, Ivanti MobileIron, Kaspersky, KPMG, Matrix42, McAfee, Okta, Ping Identity, PwC, RSA, Sophos, Sopra Steria, TCS and VMware Carbon Black were name leaders in one quadrant.

In addition, Cybereason, Deutsche Telekom and glueckkanja-gab were named Rising Stars—companies with “promising portfolios” and “high future potential” by ISG’s definition—in one quadrant.

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