2023
Cybersecurity Market Update What you need to know!
Cybersecurity is the #1 Priority for State and Local Government Leaders
for over 7 years! Cyber has ranked #1
State
City
County
1. Cybersecurity
1. Cybersecurity 2. Address IT personnel 3. Customer experience 4. Business intelligence/ analytics 5. Data governance 6. Network/Broadband 7. Disaster recovery 8. Business process automation 9. Legacy systems modernization 10. IT governance
1. Cybersecurity 2. Customer experience 3. Address IT personnel 4. Network/Broadband 5. Disaster recovery 6. Business intelligence/ analytics 7. Cloud computing 8. Agency/Department IT collaboration 9. Business process automation 10. Digital services
2. Constituent Engagement/ experience 3. Address IT personnel 4. Legacy systems modernization
5. Network/Broadband 6. Agency/Department IT collaboration 7. Cloud computing
8. Digital services/processes 9. Infrastructure modernization 10. Data governance
SOURCE: DIGITAL STATES, CITIES AND COUNTIES SURVEYS
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SLG is estimated to spend $ 11 B on cybersecurity-focused products and services
What percentage of the IT budget is spent on cybersecurity?
10% 0% 14% 37% 50% 54% 41% 43% 19% 12% 7% 14%
Counties Cities States
Less than 1%
Increased awareness of cybersecurity’s importance has led to a shift
Counties Cities States
1-5%
Counties Cities States
6-10%
in budget priorities.
Counties Cities States
More than 10%
SOURCE: GOVTECH NAVIGATOR
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States, cities and counties are all heavily focused on developing their zero trust and SOAR models. Align your marketing and sales messaging to these top areas of focus in cybersecurity.
Top Cybersecurity Programs to be Implemented in 2023/2024
State 1. Zero trust model 2. SOAR (Security Orchestration Automation and Response)
City 1. Zero trust model 2. SOAR (Security Orchestration Automation and Response) 3. Micro-Segmentation 4. Run-Time application self-protection 5. Pen/Red team testing 6. IT Supply Chain 7. Behavioral analytics 8. Secure application development operations 9. Security policy orchestration 10. AI/Machine learning
County 1. Zero trust model 2. SOAR (Security Orchestration Automation and Response) 3. IT supply chain 4. Micro-segmentation 5. Enterprise security operation centers 6. AI/Machine learning 7. Application security 8. Governance risk and compliance (GRC) 9. Pen/Red team testing 10. Secure application development operations
3. Micro-Segmentation 4. AI/Machine Learning 5. Pen/Red team testing 6. Behavioral analytics 7. Identity proofing 8. Run-Time application self-protection 9. Security policy orchestration 10. Application security
SOURCE: DIGITAL STATES, CITIES AND COUNTIES SURVEYS
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What’s Driving the Market:
Increasing Cyber Threats: The frequency, sophistication and impact of cyberattacks have been increasing. Ransomware attacks have been significantly disruptive to the market. Digital Transformation: As state and local governments and educational institutions modernize their IT infrastructure and adopt cloud services, the need for robust cybersecurity measures becomes paramount. Public Expectation: Citizens and students expect their data to be handled securely. Any breach can lead to a loss of public trust, which can have long-term implications. Legacy Systems: Many state and local governments operate outdated IT systems. These legacy systems can be more vulnerable to cyberattacks, driving the need for increased security spending. Collaboration and Shared Services: Smaller jurisdictions might not have the resources to have their own dedicated cybersecurity teams. This has led to collaborative efforts where multiple entities share cybersecurity resources and costs.
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What Does This Mean for the Market:
Managed Security Services: Given the talent shortage in cybersecurity, many entities are looking for third-party companies to manage at least part of their security operations, including monitoring, detection and response services. Security Awareness Training: Human error remains the top vulnerability of any organization. Companies can offer training solutions to better educate users on best practices and threat awareness. Identity and Access Management (IAM): Solutions that manage user identities and control access to resources are crucial. Cloud Security Solutions: With more and more data being stored in the cloud, there’s a need for solutions that secure cloud environments, applications and data. Backup and Disaster Recovery: Given the rise of ransomware attacks, solutions that back up data and ensure quick recovery after an incident are essential.
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What Should You Do Next? What Should You Do Next?
The growing awareness of cybersecurity in the state and local government and education sectors presents a vast landscape of opportunities for technology companies.
Align your go-to-market strategy around being a resource for government. Focus on creating content to empower your buyers. Examples of other successful implementations and customer testimonials are key. Work within existing budget priorities and projects. Come up with ideas on how jurisdictions can leverage existing grant programs like: o The State and Local Cybersecurity Grant Program (SLCGP) o The Tribal Cybersecurity Grant Program (TCGP) o The Cybersecurity and Infrastructure Security Agency (CISA) Cybersecurity Assistance Program o And many more
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Want to connect with the leaders driving the future of cybersecurity? Now’s your chance!
Reach out to us today to reserve your spot at an upcoming Summit!
Our new Public Sector Cybersecurity Summits are must-attend events for government executives and cybersecurity professionals who want to discuss the latest issues, technologies and developments in cyber defense, response and recovery.
Join us at one of the remaining 2023 Summits in California, New York (Albany), New York City and Indiana!
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