(MENAFN - Khaleej Times) Global physical security services market to generate 86.
robert bigman addressing the conference. — supplied photo
industry specialists gathered at the second edition of gulf information security expo and conference (gisec) discussed countermeasures and solutions to combat cybersthreats and emphasised that role of it security in companies’ strategic planning is critical.
a frost & sullivan position paper authored for gisec reported that the global physical security services market generated revenues of 62.3 billion in 2013 and is expected to reach 86.32 billion in 2018.
frost & sullivan also forecasts that the middle east and africa (mea) region’s it and physical security services market will likely grow at a compound annual growth rate (cagr) of 18.4 per cent from 2013 to 2018.
on the other hand a pricewaterhousecoopers (pwc) 2014 global economic crime survey reveals that cybercrime is currently the second most reported economic crime in the middle east with high-profile breaches being reported every day. thus in its efforts at combating such crime the middle east accounts for nearly 1.4 per cent of global software spending with long-term prospects of growth as per a recent report by gartner inc.
robert bigman former chief information security officer at central intelligence agency (cia) revealed that the size of a company’s information security arm does not necessarily guarantee a secure it environment. he stressed that its influence and centralised management with strong programme and data governance controls is what works and matters most.
“there is a good mix of small and big companies who do it well when it comes to securing their organisations’ it systems” bigman said during his keynote presentation on the second day of the gisec organised by dubai world trade centre.
“what is essential is the effective participation of it security in all strategic planning and tactical decision taking it configuration change requests and monitoring of network interfaces and all use of privileged account accesses. having witnessed also how big companies do it wrong i also strongly urge that chief information security officers should not work with chief information officers” he added.
in his presentation bigman further revealed that majority of it vendors place product compatibility ahead of product security and are patching product holes instead of writing secure code. he recommended that the best solution to thwart sophisticated hackers and cyberthreats include system encryption white-listing of approved applications cyber intelligence and sharing big data analytics.
during the first day of gisec 2014 key industry speakers also discussed countermeasures and solutions to combat cybersthreats. hosting delegates from over 18 countries among the speakers at the exhibition were konstantinos karagiannis director of ethical hacking bt global services; hani nofal executive director of ins gbm; ashraf ali ismael national information assurance manager cybersecurity division (qcert) ictqatar; and stephane konan special advisor to the minister of homeland security of cote d’ivoire.
other speakers who shed light on cybersecurity threats include john taylor of protection group international; sameer shaikh it security policies and risk manager emirates group it; nader henein advanced security solutions advisory division blackberry; omar ali marosh it specialist ajman land & property department; and ayman al-issa digital oil fields cyber security advisor adma.