Global External Risk Mitigation & Management (ERMM) Market Report 2024 - Rising Demand for Proactive Security Measures
DUBLIN, Feb. 7, 2024 /PRNewswire/ -- The "Global External Risk Mitigation & Management (ERMM) Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
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 have 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 efectiveness 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.
Key Growth Opportunities
Key Topics Covered:
Insights for CISOs
Growth Opportunity Analysis
Growth Opportunity Analysis: North America (NA)
Growth Opportunity Analysis: Latin America (LATAM)
Growth Opportunity Analysis: Europe, the Middle East, and Africa (EMEA)
Growth Opportunity Analysis: Asia-Pacific (APAC)
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Research and Markets
SOURCE Research and Markets