[Infowarrior] - Cybersecurity in 2010: Bubble or Blip?

[Richard Forno]

Cybersecurity in 2010: Bubble or Blip?

by Steven McElwee

http://www.redlightsecurity.com/2009/12/cybersecurity-in-2010-bubble-or-blip.html

Take a look at Google trends for the word "cybersecurity", and see what you find. In the third quarter of 2008, there were two small blips on the radar for this search term. In 2009 there was a sharp rise throughout the year. What will 2010 look like for cybersecurity, and are we at the beginning of a cybersecurity bubble?

The Internet bubble was driven primarily by new web technologies and the potential for rapid profit. Cybersecurity, at present, is driven by regulatory compliance and government initiatives. It is unrealistic that this will be a bubble of the magnitude of the Internet bubble, but here are a few interesting parallels. 

First, there are currently plans to hire up to 1,000 cyber security professionals by the Department of Homeland Security. This is in addition to the hiring of contractors that serve the government. During the Internet bubble, it was very difficult to obtain quality technical personnel. They were snatched up quickly, and the rates skyrocketed.

Second, there is the potential for the development of new security technologies. Research universities, working with Northrop Grumman, will be exploring new technologies to provide better security. This may trigger the development of new products from existing and new vendors. This also parallels the Internet bubble.

Third, regulatory requirements related to security continue to increase, putting more pressure on companies to improve their information security operations. This gives rise not only to personnel who implement the compliance programs, but also to consultants and auditors.

What will 2010 look like? My prediction is that cybersecurity professionals will be in high demand, making staffing them especially challenging. As boards and CEOs take an increasing interest in security, new companies will enter the security technology market, and this will create even more strain on the talent pool. 

What should you do? If you are a cybersecurity professional, keep your skills honed, certifications up-to-date, and finish your degree. There is great opportunity ahead. If you are not experienced in cybersecurity, keep an eye on companies that rise to the challenges of the new year and consider investing in those that have the most potential.

What do you think? Will the rise in cybersecurity be a bubble or a blip?