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Fabio Fratucello, Chief Technology Officer, Asia Pacific and Japan, CrowdStrike talks to us on Engineers' Day about software and as-a-service segments of the IT industry.
What software and as-a-service platform segments are providing the best business growth in 2022? What are the reasons for their providing the best business growth?
Fabio Fratucello - The cybersecurity industry is growing rapidly as a result of increasing threats from adversaries as well as shifts in the way organisations are digitally transforming. Looking at the adversary piece, the CrowdStrike Falcon OverWatch report for 2022 highlights how OverWatch threat hunters identified more than 77,000 potential intrusions or approximately one every seven minutes. We tracked a 50% increase in interactive intrusions year over year.
Looking at the digital transformation piece, we’re seeing a large shift of organisations moving applications, workloads and data to the cloud but without the focus on security necessary to underpin a protected transformation project.
This rapid adoption of cloud-native architectures have opened up new, broader attack surfaces, and security teams are often left in the dark without visibility or the requisite skill sets to hunt continuously around the clock for sophisticated threats across these complex cloud environments.
As a result, adversaries are finding cloud assets and exploiting them faster than security teams can discover them. To protect customers CrowdStrike launched Falcon OverWatch Cloud Threat Hunting, the industry’s first cloud threat hunting service dedicated to stopping advanced cloud based attacks. This, combined with the existing pre runtime, runtime and control plane protection capabilities provide customers with the most advanced and comprehensive defences for cloud environments.
We see cloud security as a specific software that is offering incredibly strong growth opportunities in 2022 and beyond.
Do you think these growth opportunities are going to sustain or is this situation going to change?
Fabio Fratucello - Gartner forecasts that end-user spending on public cloud services will grow to nearly $600 billion in 2023. They believe that most enterprise data centers are expected to move to the cloud by 2025. The use of public clouds in the form of infrastructure, platforms and software as a service will be extensive. Yet, traditional security approaches will not keep pace. They will not work and will not scale in the future. So the opportunity for innovative digital native cloud security solutions integrated into an extensive cybersecurity platform is significant.
Additionally there is an element of addressing cyber risks. In our conversations with customers, cyber is the number one risk every Board is dealing with. It's an important risk to address to protect the business and build resilience; this is not about having a single computer infected, this is about addressing the systemic risk of the business going down and not being able to operate for example when impacted by ransomware.
There are also many regulations and guidelines around the globe that mandate cyber standards and maturity levels, hence organisations have to be compliant if they want to operate. As such, cyber cannot be considered an optional spend anymore.
What are the challenges in these growth-oriented segments?
Fabio Fratucello - A major challenge is often apathy, not willing to change because it’s either too hard or not well enough understood how to initiate the change. We still see organisations using legacy anti-virus solutions which are largely superfluous against modern cyberattacks. Cost is another area that creates challenges with organisations measuring the value of cybersecurity incorrectly. Both of these put the organisation at significant risk of not just financial issues but also diminished brand reputation, customer/partner trust and productivity should they fall victim to what is an incredibly evolving and rapidly expanding cyberattack landscape.