International Data Corporation (IDC) predicts that by 2026, 20% of large enterprise organizations will migrate to autonomous security operations centers (SOC) accessed by distributed teams for faster remediation, incident management, and response. This is one of IDC’s predictions unveiled in its latest report IDC FutureScape: Worldwide Future of Trust 2023 Predictions — India Implications.
India is on the rise to becoming a digital economy. Investments around digital capabilities across enterprises and government entities as a drive towards enhancing business processes and achieving seamless online experiences are also exponentially growing. Open banking, digital tokenization, and e-governance are bringing banks, fintech, and government agencies to collaborate and function together to provide more personalized experiences to clientele and citizens. Drive towards a multi-cloud environment, automation, AI, and analytics require enterprises to operate in a highly secure environment which has increased the demand for a suite of security services such as managed services, consulting, integration, and support services. Additionally, the datacenter market in India is witnessing an unprecedented growth in demand for edge datacenters and hyperscale datacenter facilities.
At the same time, expansion to our attack surfaces has led cybercriminals to spread crippling and toxic malware to infiltrate organizations and steal sensitive and confidential data or demand ransom.
“Achieving digital trust not only at the bedrock of all digital engagements but also along its constituents such as data security, privacy, sovereignty, compliance, risk mitigation, confidential computations, and environmental, social, and governance (ESG) is critical to be considered while making any strategic investments,” says Sakshi Grover, Research Manager, Future of Trust, IDC India and Asia/Pacific.
“IDC’s predictions on Security and Trust in 2023 cover critical elements that enterprises need to focus on while they move towards becoming a digital business. New and advanced threat vectors combined with a fatigued security team necessitates enterprises to look for technologies that help them manage not only security but overall risks better,” says Sharath Srinivasamurthy, Associate Vice President, IDC India.
IDC’s Future of Trust top 10 predictions provide guidance to business leaders on how trust can be achieved and maintained as they navigate the changes ahead:
#1: Autonomous SOC: By 2026, 20% of large enterprise organizations will migrate to autonomous security operations centers accessed by distributed teams for faster remediation, incident management, and response.
#2: PbD Privacy Engineer: By 2025, 20% of organizations will employ a privacy engineer to operationalize Privacy by Design principles into IT systems, processes, and product development strategy.
#3: Confidential Computing: By 2026, 15% of heavily regulated organizations will adopt confidential computing technologies to combine and enrich sensitive data critical to multiparty compute applications while preserving privacy.
#4: Data Sovereignty Controls: By the end of 2025, 50% of major enterprises will mandate data sovereignty controls from their cloud service providers to adhere to data protection and privacy regulatory requirements.
#5: CaaS: By 2026, driven by steep regulatory growth, talent gap and cost efficiencies measures, 20% of organizations will invest in compliance-as-a-service offerings to meet their regulatory mandates.
#6: Continuous Risk Assessment: By 2027, 45% of I2000 companies will adopt continuous risk assessments over annual security audits, leveraging service providers to limit the burden of policies, practices and technical debt.
#7: Cyber Risk Scoring: By 2025, the SEC (SEBI in India) will publish standards for cyber risk scoring, and publicly traded companies will be required to update and report this score on an annual basis.
#8: ESG Metrics: By 2025, 20% of organizations will advance their ESG metrics and data management beyond reporting capabilities to generate sustainability driven cost and competitive advantages.
#9: ESG Management Software: By 2026, 35% of large enterprise firms will implement purpose-specific ESG data management and reporting software as a response to emerging legislation and increased stakeholder expectations.
#10: CEO Security Metrics: By 2025, 45% of CEOs, fatigued by security spending without predictable ROI, will demand security metrics and results measurement to assess and validate investments made in their security programs.