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Frost Radar™: External Risk Mitigation and Management, 2023

Information Technology Frost Radar™: External Risk Mitigation and Management, 2023

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
13-Dec-2023
REGION
Global
Deliverable Type
Frost Radar
Research Code: K98A-01-00-00-00
SKU: IT_2023_414
Yes
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Frost Radar™: External Risk Mitigation and Management, 2023
Published on: 13-Dec-2023 | SKU: IT_2023_414

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Description

Enterprise digitalization efforts have altered the modern threat landscape. IT is more complex, and third-party integration is more essential, complicating security and increasing attack surfaces. Traditional perimeter-based security measures no longer protect a cloud-extended workspace: threat actors now target digital assets beyond an organization’s network. Virtual interactions and expanding partner networks have elevated the risk of phishing attacks and third-party breaches. Threat actors are using artificial intelligence and employing sophisticated forms of attack such as smishing and phishing-as-a-service. In response, businesses must adopt robust data protection measures to avoid the severe consequences of a breach, including brand erosion, disruptions, customer loss, and revenue decline. External risk mitigation and management (ERMM) solutions offer a comprehensive and proactive security approach.

ERMM comprises cybersecurity practices that map external attack surfaces, continually monitor the threat landscape, mitigate risks, and enhance organizational security strategy. ERMM integrates formerly distinct capabilities, including external attack surface management (EASM), cyber threat intelligence (CTI), and digital risk protection (DRP), into a unified experience. The ERMM market, though nascent, is experiencing double-digit growth as vendors consolidate the functions.

The most common ERMM use cases by category are:
• DRP—phishing protection, brand protection, data leakage detection, and takedown/remediation services
• EASM—risk assessments (scorecards, threat prioritization), asset discovery, and third-party/supply chain risk assessment
• CTI—dark web monitoring, threat visualization, and threat reports

More vendors are entering the space: venture capitalists are funding ERMM start-ups; pure-play CTI, DRP, and EASM providers are shifting to platform offerings; and new, larger competitors are entering the market, either by building or buying ERMM technologies. This has caused some confusion and risks commoditizing the ERMM space, making it harder to distinguish between ERMM service capabilities. For example, some vendors offer unlimited takedowns (e.g., removing a look-alike domain) while others charge per takedown. Some vendors may leverage extensive dark web intelligence but at the expense of threat visibility into social media. Some vendors offer a wealth of information from a wide range of sources but lack critical context and historical data, resulting in many false positives and alert fatigue.

Regardless, the ERMM market is poised to grow, with North America and the region encompassing Europe, the Middle East, and Africa representing the largest ERMM markets by revenue size, thanks to the concentration of large enterprises with elevated security maturity and cybersecurity budgets in these regions. Though smaller in size, Asia-Pacific and Latin America will also experience steady growth, with enterprise security investment reflecting an overall trend toward security maturity.

Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across ten Growth and Innovation criteria to reveal their position on the Frost Radar™. This publication presents competitive profiles of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.

Table of Contents

External Risk Mitigation and Management 2023

  • External Risk Mitigation and Management
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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

Have questions about this research or need deeper insights?
Speak directly with our analytics experts for tailored recommendations.
Purchase includes:
  • Report download
  • Growth Dialog™ with our experts
Related Research
  1. Growth Opportunities in Data Security, Attack Surface Management, Threat Detection, AI & Cloud Security, Identity & Access Management (IAM), and Anti-Phishing
    Release Date: 11-Apr-25
  2. Growth Opportunities in AI, Cloud and Network Security, Access Control, Blockchain Security, Threat and Behavioural Intelligence, and Risk and Vulnerability Assessment
    Release Date: 10-Jan-25
  3. Growth Opportunities in Zero Knowledge Encryption, Endpoint Security, AI-SIEM Platform, Social Media Security, Predictive Security, and Multi-factor Authentication
    Release Date: 14-Mar-25
  4. Growth Opportunities in Incident Detection & Response, Zero Trust & Observability, Vulnerability Assessment, Documentation Security, Quantum-Safe Cryptography
    Release Date: 07-Feb-25
  5. Frost Radar™: External Risk Mitigation and Management (ERMM) Platforms, 2022
    Release Date: 9-Dec-22

Growth Dialog™

A tailored session with you where we identify the:
  • Strategic Imperatives
  • Growth Opportunities
  • Best Practices
  • Companies to Action

Impacting your company's future growth potential.

Enterprise digitalization efforts have altered the modern threat landscape. IT is more complex, and third-party integration is more essential, complicating security and increasing attack surfaces. Traditional perimeter-based security measures no longer protect a cloud-extended workspace: threat actors now target digital assets beyond an organization s network. Virtual interactions and expanding partner networks have elevated the risk of phishing attacks and third-party breaches. Threat actors are using artificial intelligence and employing sophisticated forms of attack such as smishing and phishing-as-a-service. In response, businesses must adopt robust data protection measures to avoid the severe consequences of a breach, including brand erosion, disruptions, customer loss, and revenue decline. External risk mitigation and management (ERMM) solutions offer a comprehensive and proactive security approach. ERMM comprises cybersecurity practices that map external attack surfaces, continually monitor the threat landscape, mitigate risks, and enhance organizational security strategy. ERMM integrates formerly distinct capabilities, including external attack surface management (EASM), cyber threat intelligence (CTI), and digital risk protection (DRP), into a unified experience. The ERMM market, though nascent, is experiencing double-digit growth as vendors consolidate the functions. The most common ERMM use cases by category are: DRP phishing protection, brand protection, data leakage detection, and takedown/remediation services EASM risk assessments (scorecards, threat prioritization), asset discovery, and third-party/supply chain risk assessment CTI dark web monitoring, threat visualization, and threat reports More vendors are entering the space: venture capitalists are funding ERMM start-ups; pure-play CTI, DRP, and EASM providers are shifting to platform offerings; and new, larger competitors are entering the market, either by building or buying ERMM technologies. This has caused some confusion and risks commoditizing the ERMM space, making it harder to distinguish between ERMM service capabilities. For example, some vendors offer unlimited takedowns (e.g., removing a look-alike domain) while others charge per takedown. Some vendors may leverage extensive dark web intelligence but at the expense of threat visibility into social media. Some vendors offer a wealth of information from a wide range of sources but lack critical context and historical data, resulting in many false positives and alert fatigue. Regardless, the ERMM market is poised to grow, with North America and the region encompassing Europe, the Middle East, and Africa representing the largest ERMM markets by revenue size, thanks to the concentration of large enterprises with elevated security maturity and cybersecurity budgets in these regions. Though smaller in size, Asia-Pacific and Latin America will also experience steady growth, with enterprise security investment reflecting an overall trend toward security maturity. Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across ten Growth and Innovation criteria to reveal their position on the Frost Radar . This publication presents competitive profiles of each company on the Frost Radar , considering their strengths and the opportunities that best fit those strengths.
More Information
Deliverable Type Frost Radar
Industries Information Technology
No Index No
Is Prebook No
Keyword 1 External Risk Management
Keyword 2 Risk Mitigation Strategies Analysis
Keyword 3 External Risk Trends
Podcast No
WIP Number K98A-01-00-00-00