ISG Provider Lens™ report finds many companies in Brazil turning to cybersecurity providers to deal with recent challenges, including a new data protection law
Enterprises in Brazil are investing heavily in cybersecurity products and services to protect corporate systems at higher risk during the pandemic and to comply with new data protection regulations, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
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“To maintain operations during the pandemic, security teams have had to provide fast, reliable and secure connections for workers”
The 2021 ISG Provider Lens™ Cybersecurity – Solutions & Services Report for Brazil sees double-digit growth in sales in the past year for cybersecurity vendors serving enterprises in the country. Companies in Brazil are seeking greater protections as employees work from home and the companies look to comply with Brazil’s general data protection law, the Lei Geral de Proteção de Dados (LGPD), which went into effect in September 2020.
Enterprises in Brazil have turned to cybersecurity providers to deal with these twin challenges, said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “To maintain operations during the pandemic, security teams have had to provide fast, reliable and secure connections for workers,” he said. “At the same time, the LGPD puts pressure on businesses to accelerate their data protection efforts.”
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In some cases, employees working from home in Brazil during the pandemic have shared their devices with family members, the report notes. Some of these devices lack the security features available on company computers. Employee Internet connections are often not as secure as corporate networks.
Cyberattacks spiked during the pandemic, and criminals on the dark web stood up ecommerce operations that sold access credentials to corporate networks, the report adds. Responding to these threats, and the new LGPD regulations, enterprises in Brazil invested in cybersecurity and turned to solution and service providers.
Brazil’s growing demand for cybersecurity products and services has given cybersecurity providers here an opportunity to increase their market share, the report adds. Some are making acquisitions to expand their market presence. With current worldwide measures to bring the pandemic under control, cybersecurity providers in Brazil expect to see steady growth in this market for at least the next two years.
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The 2021 ISG Provider Lens™ Cybersecurity – Solutions & Services Report for Brazil evaluates the capabilities of 62 providers across six quadrants: Identity and Access Management; Data Leakage/Loss Prevention and Data Security; Advanced Endpoint Threat Protection, Detection and Response; Technical Security Services; Strategic Security Services, and Managed Security Services.
The report names IBM as a Leader in all six quadrants and Broadcom, ISH Tecnologia, Logicalis and Microsoft as Leaders in three. Agility Networks, Capgemini, Deloitte, McAfee, Trend Micro and Varonis are named Leaders in two quadrants, and Accenture, Compasso UOL, EY, Forcepoint, Kaspersky, Lumen, NTT Data (Everis), Okta, OpenText, Oracle, PwC, RSA, senhasegura, Stefanini Rafael, Unisys and Wipro are all named Leaders in one quadrant.
In addition, Stefanini Rafael was named a Rising Star—a company with a “promising portfolio” and “high future potential” by ISG’s definition—in two quadrants. Accenture, Fortinet, HelpSystems and Ping Identity were named Rising Stars in one quadrant.
A customized version of the report is available from ISH Tecnologia.
The 2021 ISG Provider Lens™ Cybersecurity – Solutions & Services Report for Brazil is available to subscribers or for one-time purchase on this webpage.
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