Global External Risk Mitigation & Management (ERMM) Growth Opportunities

Global External Risk Mitigation & Management (ERMM) Growth Opportunities

Industry Convergence Dictates Future Growth Potential of ERMM Solutions

RELEASE DATE
18-Dec-2023
REGION
Global
Research Code: K93C-01-00-00-00
SKU: AE_2023_441
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Description

The modern threat landscape has transformed significantly due to global digitalization efforts, leading to increased attack surfaces, IT complexity, and reliance on 3rd parties. Traditional security measures focused on the perimeter are no longer sufficient, as 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 3rd party breaches. The proliferation of AI and sophisticated methodologies like smishing and phishing-as-a-service has fueled the rise of phishing and brand impersonation attacks. Businesses must take responsibility for data protection to avoid severe consequences, including brand erosion, disruptions, customer loss, and revenue decline. Despite these risks, many organizations still rely on reactive perimeter-based security, highlighting the need for a holistic and proactive approach like External Risk Mitigation and Management (ERMM).

ERMM comprises cybersecurity practices focused on mapping the external attack surface, continually monitoring the threat landscape, mitigating risks, and implementing a comprehensive risk strategy to enhance organizational security. Furthermore, ERMM uniquely integrates former distinct practices like external attack surface management (EASM), cyber threat intelligence (CTI), and digital risk protection (DRP) into a unified experience. Safeguarding organizations from threats has become a collaborative effort involving various departments in managing comprehensive risk strategies and counteract fraud campaigns and supply chain attacks. Despite this need for collaboration, many organizations and security teams still operate in silos, hindering the overall effectiveness of their security efforts. ERMM platforms serve as the connective tissue within organizations, not only consolidating CTI, DRP, and EASM use cases but also integrating governance, risk, and compliance (GRC), marketing, legal, and IT processes with security operations.

The external risk mitigation and management (ERMM) market is in its early growth stage, with the CTI, DRP, and EASM spaces continuing to converge. The entry of larger cybersecurity platform providers into the ERMM space through either proprietary solutions or acquisitions will contribute to accelerated market growth. Key drivers include the rising importance of proactive anti-phishing protection and an increase in supply chain attacks. Vendors will continue prioritizing growth in North America (NA) and Europe, the Middle East, and Africa (EMEA), given the regions’ concentration of large enterprises with higher security maturity and budgets. However, the Asia-Pacific (APAC) and Latin America (LATAM) regions will also experience steady growth, with an overall trend toward increased security maturity.

Author: Martin Naydenov

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the ERMM Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Overview

ERMM: The Connective Tissue of an Organization

Making Heads and Tails of ERMM

Use Cases

From Risk to Reward: ERMM Benefits

Insights and Recommendations

Scope of Analysis

Segmentation

Key Vendors

Growth Metrics

Distribution Channels

Growth Drivers

Growth Driver Analysis

Growth Driver Analysis (continued)

Growth Driver Analysis (continued)

Growth Driver Analysis (continued)

Growth Restraints

Growth Restraint Analysis

Growth Restraint Analysis (continued)

Growth Restraint Analysis (continued)

Forecast Assumptions

Revenue Forecast

Revenue Forecast by Region

Revenue Forecast by Industry Vertical

Revenue Forecast by Business Size

Revenue Forecast Analysis

Pricing Trends and Forecast Analysis

Competitive Environment

Revenue Share

Revenue Share Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast by Industry Vertical

Revenue Forecast by Business Size

Forecast Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast by Industry Vertical

Revenue Forecast by Business Size

Forecast Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast by Industry Vertical

Revenue Forecast by Business Size

Forecast Analysis

Growth Metrics

Revenue Forecast

Revenue Forecast by Industry Vertical

Revenue Forecast by Business Size

Forecast Analysis

Growth Opportunity 1: Strategic ERMM Marketing Campaigns

Growth Opportunity 1: Strategic ERMM Marketing Campaigns (continued)

Growth Opportunity 2: Expansion into the LATAM Market

Growth Opportunity 2: Expansion into the LATAM Market (continued)

Growth Opportunity 3: Double Down on AI Integrations

Growth Opportunity 3: Double Down on AI Integrations (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

The modern threat landscape has transformed significantly due to global digitalization efforts, leading to increased attack surfaces, IT complexity, and reliance on 3rd parties. Traditional security measures focused on the perimeter are no longer sufficient, as 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 3rd party breaches. The proliferation of AI and sophisticated methodologies like smishing and phishing-as-a-service has fueled the rise of phishing and brand impersonation attacks. Businesses must take responsibility for data protection to avoid severe consequences, including brand erosion, disruptions, customer loss, and revenue decline. Despite these risks, many organizations still rely on reactive perimeter-based security, highlighting the need for a holistic and proactive approach like External Risk Mitigation and Management (ERMM). ERMM comprises cybersecurity practices focused on mapping the external attack surface, continually monitoring the threat landscape, mitigating risks, and implementing a comprehensive risk strategy to enhance organizational security. Furthermore, ERMM uniquely integrates former distinct practices like external attack surface management (EASM), cyber threat intelligence (CTI), and digital risk protection (DRP) into a unified experience. Safeguarding organizations from threats has become a collaborative effort involving various departments in managing comprehensive risk strategies and counteract fraud campaigns and supply chain attacks. Despite this need for collaboration, many organizations and security teams still operate in silos, hindering the overall effectiveness of their security efforts. ERMM platforms serve as the connective tissue within organizations, not only consolidating CTI, DRP, and EASM use cases but also integrating governance, risk, and compliance (GRC), marketing, legal, and IT processes with security operations. The external risk mitigation and management (ERMM) market is in its early growth stage, with the CTI, DRP, and EASM spaces continuing to converge. The entry of larger cybersecurity platform providers into the ERMM space through either proprietary solutions or acquisitions will contribute to accelerated market growth. Key drivers include the rising importance of proactive anti-phishing protection and an increase in supply chain attacks. Vendors will continue prioritizing growth in North America (NA) and Europe, the Middle East, and Africa (EMEA), given the regions concentration of large enterprises with higher security maturity and budgets. However, the Asia-Pacific (APAC) and Latin America (LATAM) regions will also experience steady growth, with an overall trend toward increased security maturity. Author: Martin Naydenov
More Information
Author Martin Naydenov
Industries Aerospace, Defence and Security
No Index No
Is Prebook No
Keyword 1 Risk Mitigation Strategies
Keyword 2 ERMM Market Trends
Keyword 3 Risk Mitigation Solutions
Podcast No
Predecessor K7D1-01-00-00-00
WIP Number K93C-01-00-00-00