The Business of InfoSec: Present and Future.
The Information Security(InfoSec henceforth) field has become a multi-billion-dollar industry with an expected total market size of USD 167.13 billion by 2027. One of the challenges of the InfoSec industry we recently discussed is its market dominance by a handful of major players, including McAfee, Symantec, and Palo Alto Networks, which has caused a lack of efficient and sufficient solutions that are accessible to all, regardless of company size or budget. We also proposed the concept of (decentralized) InfoSec marketplaces built to connect buyers(businesses) and sellers(auditors, security engineers, etc.) of security products and services, making it easier to exchange much-needed tools and solutions.
In this blog post, we will briefly explore the traditional business landscape of InfoSec, the rise of InfoSec businesses, and the need for novel business systems such as decentralised marketplaces. We will use Guardian360, a core contributor of G360DAO, as an example of an InfoSec company that has succeeded in the traditional business setting and how it has demonstrated the business case for InfoSec. Finally, we will focus on the Lightnet Marketplace and how it will revolutionise the business case for InfoSec.
A History of the InfoSec Market
The history of InfoSec businesses dates back to the 1980s with the development of the first antivirus software. However, it wasn't until the rise of the Web and e-commerce solutions in the 1990s that the InfoSec industry started to gain momentum. During this time, several companies emerged, including McAfee, Symantec, and TrendMicro, which focused on developing security solutions for personal and enterprise computers.
As the internet evolved, new security threats emerged, such as Phishing, Denial of Service(DoS) attacks, and Ransomware. As a response, the industry pursued and delivered novel and sophisticated security solutions, such as Firewalls, Intrusion Detection Systems(IDS), and state-of-the-art encryption tools and techniques. Today, the InfoSec market has become highly advanced, with companies offering vast collections of security solutions and services.
The Present
The traditional business landscape of InfoSec involves a range of actors and contributors, including developers, CEOs, stakeholders, and investors. Companies in the InfoSec market often face trade-offs between security, cost, and convenience. For example, companies may prefer off-the-shelf security solutions that are less costly but lack the specialisation of custom-built solutions. Alternatively, they may opt for developing their security solutions, which can be non-trivial w.r.t. cost, time, and dedicated personnel, but offer better protection.
Guardian360 is one company that has succeeded in the traditional InfoSec business scene as a provider of a wide range of security solutions, including Vulnerability Scans, Penetration Testing, Web Application Security, etc. Guardian360 has exhibited the business case for InfoSec by offering a good balance between the affordability and efficiency of security tools and solutions while ensuring they are accessible to individuals and businesses of all sizes.
The Future
Time and current market trends have shown a growing need to transition out of the traditional business landscape for InfoSec due to the emergence of monopolies that have limited innovation and caused a lack of accessibility to much-needed tools and services for most participants in the InfoSec ecosystem. We propose that decentralised marketplaces, such as Lightnet Marketplace by G360DAO(coming soontm), are a new paradigm that will offer a solution path and alternative to the current status quo. These marketplaces aim to democratize access to security solutions by directly connecting customers and security solution vendors, cutting out intermediaries, and reducing costs and overhead in doing business in the InfoSec market.
The Lightnet Marketplace will operate as a decentralised marketplace that allows users to exchange security products and services in an open and trust-minimised format via Web3-based solutions. The marketplace aims to improve the business case (and approach) for InfoSec by making affordable and effective security solutions accessible to all kinds of businesses. The Lightnet Marketplace will also focus on supporting the Web3 ecosystem by extending the scope of security solutions to everyday consumer dApps like DEXs and Wallets.
In Conclusion
The InfoSec market will continue to grow in the coming years with an increasing demand for more innovative and practical avenues for accessing affordable and efficient security tools and services. We believe that novel alternatives such as The Lightnet Marketplace by G360DAO (and similar decentralised platforms) will unlock a new ecosystem for business opportunities and interactions and ultimately redefine the business case for InfoSec.
Addendum
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