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Investment in Identity Management Grows by 45 Percent Year-Over-Year, Highlighting its Increasing Importance to Organizations Globally

DENVER--(BUSINESS WIRE)--

Optiv Security, in partnership with Momentum Cyber, has announced findings from its 2019 Security Technology Spend Insights Report, the leading barometer for evaluating technology buying trends. The report also includes Optiv’s top five technology trends and technology areas to watch, based on engagements with 7,000 Optiv clients across industries worldwide.

The 2019 Security Technology Spend Insights Report examines the rise in spending on various security disciplines from 2017 to 2018:

  • Identity Management
    • Spending on Identity Management (IM) as a category grew by more than 45 percent
    • Two subsets of IM saw significant individual growth as well, privileged access management (PAM) grew by 25% and Identity and Access Management (IAM) grew by over 55%
  • Vulnerability Management and Email Security
    • Spending on each grew by more than 30%
  • Data Protection and Cloud Security
    • Spending on each grew by more than 25%

“While the strong spending growth on identity management is not surprising, the magnitude of the growth for a second consecutive year speaks volumes about its growing importance among IT priorities,” commented Optiv’s Todd Weber, CTO, Americas. “Such growth rates can be attributed to a vast number of new and specialized companies entering the market.”

For additional insights into the wider key trends, access the 2019 Security Technology Spend Insights Report here.

Methodology
The findings in this 2019 Security Technology Spend Insights Report are based on the analysis of Optiv client data and compare technology buying trends year over year while considering current market activity. This analysis is supplemented with Momentum Cyber’s proprietary data and insights to deliver a unique perspective on industry trends and delivers beneficial perspective to provide the “peer insights” that every CISO seeks.

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Optiv Security
Optiv is a security solutions integrator – a global, “one-stop” trusted partner with a singular focus on cybersecurity. Our end-to-end cybersecurity capabilities span risk management and transformation, cyber digital transformation, threat management, cyber operations, identity and data management, and integration and innovation, helping organisations realise stronger, simpler and more cost-efficient cybersecurity programs that support business requirements and outcomes. At Optiv, we are modernising cybersecurity to enable clients to innovate their consumption models, integrate infrastructure and technology to maximise value, achieve measurable outcomes, and realise complete solutions and business alignment. For more information about Optiv, please visit us at www.optiv.com.

Momentum Cyber
Momentum Cyber is the leading cyber-focused investment bank providing tailored strategic advice to companies within the cybersecurity ecosystem. The company actively tracks strategic activity including merger and acquisition (M&A) and financing transactions on a week to week basis and leverages the data to publish strategic industry reports that are read by 10,000+ subscribers.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190917006096/en/