At a time when geopolitical threats, cyberattacks and market growth have dramatically increased demand for cybersecurity services and solutions, leading global technology research and advisory firm Information Services Group (ISG), said it has expanded the ISG ProBenchmark® platform to include cybersecurity market pricing.
“Investing in cybersecurity services is an imperative for businesses across industries and geographies”
“The threat of ransomware attacks is driving enterprises to increasingly view cybersecurity as a board-level risk management priority,” said Chris Pattacini, managing director, ISG ProBenchmark. “ISG Index™ research shows more than a 20 percent increase in the number of cybersecurity-related contract awards in 2021. Real-time, comprehensive pricing data for cybersecurity services is critical for business decisions in this environment.”
The ISG ProBenchmark IT price benchmarking and market price intelligence platform is powered by the largest database of market price points of its kind, gathered from more than 23,500 completed engagements for 2,700 clients. ISG ProBenchmark now offers pricing benchmarks for cybersecurity services such as security operations centers, security incident and event management, identity and access management, endpoint security and vulnerability management.
Cybersecurity labor shortages are also a critical concern for enterprises as they look to elevate their cybersecurity capabilities, ISG says. The explosive growth in demand for managed cybersecurity services has caused service providers to increase their rate cards by as much as 15 percent for in-demand cyber skills, ISG research finds.
“Investing in cybersecurity services is an imperative for businesses across industries and geographies,” Pattacini said. “ISG is tracking more than 150 managed service awards that include cybersecurity in scope, representing over $4 billion of ACV that will come up for renewal in the next two years.”
Along with the ISG Contract KnowledgeBase™, pricing insights leverage the comprehensive annual ISG Provider Lens™ Cybersecurity – Solutions & Services report, as well as market knowledge from ISG Cybersecurity, a dedicated, vendor-agnostic business unit that helps enterprise clients address the exponential increase in threat actors and the growing complexity of cybersecurity operating models.
Cybersecurity is the latest tower added to the ISG ProBenchmark Software-as-a-Service platform, which offers detailed pricing on infrastructure, application, network and business and shared services for both buyers and sellers. For more information, visit the ISG ProBenchmark webpage.