Internet security breaches cost $15 billion each year.
The figures are alarming. The majority of businesses worldwide spend no more than 5% of their IT budgets on securing their networks, yet the lack of eSecurity is perhaps one of the major barriers to the effective growth of eCommerce. Only if security issues are resolved and customers feel confident that their transactions are safe will global B2B and B2C eCommerce revenues reach their predicted $5.9 trillion and $663 billion by 2005.
Many eBusinesses are still ignorant about the risks to which they are exposed. Even though a significant number have already suffered problems with unauthorized access, over 30% have yet to implement adequate security.
eSecurity solutions providers are best placed to educate businesses on the security technologies available to them. To do this, vendors need to demonstrate clearly how in the short to medium term, businesses will achieve a return. As companies come to understand the long-term benefits of eSecurity investment, the global spend should rapidly increase to $30.3 billion in 2005, representing a growth rate of 28% year on year. Public key infrastructure (PKI) and virtual private networks (VPNs), will be the largest areas of growth with global investment reaching $2.6 billion and $3.9 billion respectively.
However, although the eSecurity companies will focus on their technologies, they would also do well to offer value added services and training. After all, technology alone is not enough. Security technologies and software must be accompanied by the appropriate services to ensure security products are properly integrated with legacy systems, systems are configured properly, dynamic security policies are put in place and staff are correctly trained.
