Welcome!

Cloud Security Authors: Elizabeth White, Yeshim Deniz, Pat Romanski, Zakia Bouachraoui, Liz McMillan

Related Topics: Government Cloud

News Feed Item

Sri Lanka Network Security Market, yet Untapped - `Telecom', the Largest Spender in Adoption of Network Security Technologies, BFSI and Government Follow, Reveals Frost & Sullivan Study

- Launched at Frost & Sullivan's South Asia Enterprise Security Summit 2009

COLOMBO, Sri Lanka, May 19 /PRNewswire/ -- Frost & Sullivan, at its recently hosted summit - "South Asia Enterprise Security Summit 2009", unveiled the report titled "Overview and Way Forward on Sri Lanka Network Security Market". The report states that the telecom sector is leading the market when it comes to adopting network security technologies in Sri Lanka with most of the telecom players catering to the domestic market. BFSI stood as the second largest spender.

BFSI companies in Sri Lanka are attuned to the concept of having an active role in monitoring and upgrading their security strategies. However, due to the economic slowdown, the performance of BFSI in Sri Lanka was not as impressive in 2008 as expected. The spending by the Government in Sri Lanka remained pretty strong and focused in 2008 and attained the third position. This also goes to show the commitment of the Sri Lankan Government in addressing all relevant IT matters, as well as its salient role in driving network security business and trends. This vertical is expected to show the highest growth amongst all verticals in the forecast period 2007 - 2015.

However, as there are no strict guidelines or rules by the Government or any other body in Sri Lanka that needs to be followed by different companies, verticals like manufacturing and retail, which traditionally are not very proactive in IT security issues, are still not very IT-complaint in Sri Lanka.

The report also reveals that 2009 is expected to see many global network security players entering the Sri Lankan market, which would make this market highly competitive in terms of pricing. Moreover, the companies that could provide a complete suite of UTM capabilities and integrate all vital technologies into one appliance and make it easy and reliable for the customer can be expected to be able to fulfill the market need of security combined with affordability.

Besides the study, Frost & Sullivan also conducted a CIO Survey in Sri Lanka. It revealed that major threats for IT security were highlighted by 85 percent of the respondents who believed that Virus, Worms, and Trojan Horses are the major disquiet in today's IT environment. 55 percent respondents felt that data security was one of the major concerns for them and that they would take appropriate measures against them. Downtime and physical security were also some of the other security concerns for CIOs.

It was also noted that adoption of IT regulations and guidelines amongst most organizations remained quite dismal, with only 36 percent companies following some IT guidelines laid down by various bodies, purely based on their business needs.

Commenting on the overall enterprise security scenario for enterprises, Girish Trivedi, Deputy Director, ICT Practice, Frost & Sullivan, South Asia and Middle East, stated "The Internet is becoming an enabler. However, threats in the networked world are getting bigger and becoming more malicious and moving from external to internal. Enterprises need to evaluate and preempt these threats as the gap between attacks / attempt made, to detection is abysmally low. As most attacks go undetected or unreported, enterprises maintain the misconception that they are safe, and the consequences (resulting from a security breach) can be anything from losing reputation, customers, and competitive advantage, to legal issues, leading to considerable financial loss."

Mr. Arun Shetty, Senior Manager - Systems Engineering, Cisco Systems - India and SAARC further added that, "The world is changing and flexible new technologies delivering revolutionary forms of collaboration and communication are transforming the way businesses interact, both internally and externally. Mobile devices and virtual platforms have torn down the already wavering notion of a "network perimeter"; this has led to newer threats and risks, and as these have evolved, so have our responses to them. Cisco with the approach of Comprehensive Threat Intelligence, End-to-End security solution and Business-enabling Services provide a rich, highly secure Collaborative experience using Network as the Platform."

The Summit, through presentations and discussions, covered some of the key areas like the Evolving Role of the Chief Information Security Officer, Collaborating with Confidence, Best Practices in Security Implementation, Establishing Trustworthy Computing in an Enterprise, and Managing Security on a Limited Budget.

The keynote was addressed by Mr.Aditya Sapru, Senior Vice President (Strategic Alliances), Frost & Sullivan, Asia Pacific. Other eminent speakers included Mr. Arun Shetty, Senior Manager - Systems Engineering, Cisco Systems - India and SAARC, Mr. Samath Fernando, CIO, Hirdaramani Group of Companies, Mr. Ramesh Shanmuganathan, Executive Vice President / Group Chief Information Officer, John Keells Holdings Limited, Mr. Ramanan Devairakam, GM Enterprise, Dialog Broadband, and Mr. Pravin Srinivasan, Regional Manager, Advanced Technologies, Cisco Systems, India (South and East).

The Summit was supported by Cisco as the Platinum Sponsor and Dialog Broadband as the Silver Sponsor. The National Media Partners were Lanka Business Online and Lanka Business Report (part of ETV). International media partners were BenefIT, CIOl.com, and Express Computers.

About Frost & Sullivan - "We Accelerate Growth"

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation, and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from more than 35 offices in six continents. To join our Growth Partnership, please visit http://www.frost.com

    
    For more information on Frost & Sullivan Report OR Survey,
    contact:

    Caroline Lewis
    Corporate Communications - South Asia
    P: +91-22-4001-3438
    F: +91-22-2832-4713
    E: [email protected]

    Nimisha Iyer
    Corporate Communications - South Asia and Middle East
    P: +91-22-4001-3404
    F: +91-22-2832-4713
    E: [email protected]

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Early Bird Registration Discount Expires on August 31, 2018 Conference Registration Link ▸ HERE. Pick from all 200 sessions in all 10 tracks, plus 22 Keynotes & General Sessions! Lunch is served two days. EXPIRES AUGUST 31, 2018. Ticket prices: ($1,295-Aug 31) ($1,495-Oct 31) ($1,995-Nov 12) ($2,500-Walk-in)
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Nicolas Fierro is CEO of MIMIR Blockchain Solutions. He is a programmer, technologist, and operations dev who has worked with Ethereum and blockchain since 2014. His knowledge in blockchain dates to when he performed dev ops services to the Ethereum Foundation as one the privileged few developers to work with the original core team in Switzerland.
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
The challenges of aggregating data from consumer-oriented devices, such as wearable technologies and smart thermostats, are fairly well-understood. However, there are a new set of challenges for IoT devices that generate megabytes or gigabytes of data per second. Certainly, the infrastructure will have to change, as those volumes of data will likely overwhelm the available bandwidth for aggregating the data into a central repository. Ochandarena discusses a whole new way to think about your next...
CloudEXPO | DevOpsSUMMIT | DXWorldEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...
All in Mobile is a place where we continually maximize their impact by fostering understanding, empathy, insights, creativity and joy. They believe that a truly useful and desirable mobile app doesn't need the brightest idea or the most advanced technology. A great product begins with understanding people. It's easy to think that customers will love your app, but can you justify it? They make sure your final app is something that users truly want and need. The only way to do this is by ...
DXWorldEXPO LLC announced today that Big Data Federation to Exhibit at the 22nd International CloudEXPO, colocated with DevOpsSUMMIT and DXWorldEXPO, November 12-13, 2018 in New York City. Big Data Federation, Inc. develops and applies artificial intelligence to predict financial and economic events that matter. The company uncovers patterns and precise drivers of performance and outcomes with the aid of machine-learning algorithms, big data, and fundamental analysis. Their products are deployed...