Cybersecurity Software in Retail and Consumer Goods
Retail industries sell consumer products and services to clients through multiple channels. The retail industry vertical is one of the largest industry verticals across the globe. It includes a large number of entities, such as online and offline retailers, manufacturers, distribution channels, and consumers. The penetration of social media, omnichannel shopping, and emerging payment technologies are transforming the retail industry vertical. In contradiction of this rapidly evolving digital retail landscape, retailers find themselves to be poorly protected targets of escalating and increasingly sophisticating cyber-attacks. This industry vertical always focuses on reducing costs and enhancing its business operations. Moreover, it is one of the most targeted industry verticals by cyber-attackers, due to the potential payouts and a large number of monetary transactions made via VISA, MasterCard, and other payment processing networks. SQL injection and brute-force are among the common attacks witnessed by this industry vertical.
Retail cybersecurity has often been reactive and underfunded; however, security vulnerabilities are now becoming a critical issue. From a technology perspective, retailers have historically taken a checkbox approach to PCI compliance. Compliance-based security has resulted in incomplete data protection and poorly integrated point solutions spread over a wide geographic area. Furthermore, the endpoint security is often neglected on PoS systems, due to challenges in implementation, maintenance, and training. Retailers are now adopting new technologies, such as location-based marketing and internal work localization from one floor to another to attract customers and take full advantage of online business opportunities, which are again vulnerable to threats.
Hence, retail organizations should secure network points that include PoS terminals, eCommerce websites, third-party vendors, employees’ access points, and the increasing IoT-based devices, such as printers and security cameras. The cybersecurity solutions are helping the retail industry to reduce the cyber risk and maintain a secure IT infrastructure.
COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY
11 companies offering Cybersecurity Software in Retail and Consumer Goods were analyzed, shortlisted and categorized on a quadrant under Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies.
IBM, Cisco, HPE, and Trend Mirco have been identified as visionary leaders as they have established product portfolios and a robust market presence and business strategy.
Check Point Software, Dell, Palo Alto Networks, and Sophos have been identified as innovators as these vendors have a very focused product portfolio. However, they do not have very strong growth strategies for their overall business.
F-Secure has been identified as an emerging company. They do not have very strong business strategies as compared to other established vendors. They might be new entrants and require some more time before gaining significant traction in the market. Cyberark has been recognized as a dynamic differentiator.
Vendor evaluations are based on two broad categories: product offering and business strategy. Each category carries various criteria, based on which vendors have been evaluated. The evaluation criteria considered under product offerings include breadth of offering, delivery, features/functionality, product quality and reliability, and product differentiation. The evaluation criteria considered under business strategy include geographic footprint (on the basis of geographic presence), channel strategy and fit, vision alignment, and effectiveness of growth (on the basis of innovations, partnerships, collaborations, and acquisitions).
Visionary Leaders generally receive high scores for most evaluation criteria. They provide mature and reputable mobile cybersecurity solutions. They also have strong business strategies. IBM, Cisco, HPE, and Trend Mirco are the leading players in the cybersecurity software market and are recognized as leaders. These vendors are making their presence felt by offering services that are required by most organizations.
Innovators demonstrate substantial product innovation as compared to their competitors. They have a very focused portfolio of cybersecurity software solutions and the potential to build strong business strategies for their business growth to be at par with the leaders. However, they do not have very strong growth strategies for their overall business. Check Point Software, Dell, Palo Alto Networks, and Sophos are recognized as innovators. Innovators have been at the forefront in deploying their services based on the clients’ custom software requirements for the niche market.
Dynamic Differentiators are established vendors with very strong business strategies. However, they are low in the product portfolio. They generally focus on a specific type of technology related to the product. Cyberark is recognized as a dynamic differentiator.
EMERGING COMPANIESF-Secure has been recognized as an emerging player in the cybersecurity software market. The emerging players are specialized in offering highly niche and tailor-made solutions and services to their clients. They do not have very strong business strategies as compared to other established vendors. They might be new entrants in the market and require some more time before gaining significant market traction.
Cybersecurity Software in Retail and Consumer Goods Quadrant
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- Breadth and Depth of Product Offerings
- Security Type
- Products/Solutions Offered
- Identity and Access Management (IAM)
- Risk and Compliance Management
- Unified Threat Management (UTM)
- Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
- Security and Vulnerability Management
- Disaster Recovery
- Distributed Denial of Service Mitigation (DDoS)
- Add-on Product/Solutions
- Product Features and Functionality
- Professional Services
- Managed Services
- Professional Services
- Support and Maintenance
- Training and Education
- Risk & Threat Assessment
- End Users
- System Administrator
- Others, Please Specify
- Deployment Model
- Delivery Mode for Client Location
- Full Time Equivalent
- Subscription / Licensing
- Channel of Delivery
- Support and Services
- Level of Support
- Customer Redressal Mechanism/Program
- Pre Sales Support
- Software Requirement Specification (SRS)
- Product Demos
- Proof of Concept
- Dedicated Account Manager (DAM)
- Channel for Delivery of Support Services
- On-Site Support
- Remote Support