Is the information security industry having a midlife crisis?

Focusing on awesomeness and a plan B can help get InfoSec out of its slump.

midlife crisis
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The information security industry is hot right now, but it’s hot because it’s failing. The daily announcements about breaches and lost data confirm that criminals are winning the security battle, but how can InfoSec reposition itself in order to win the war?

Last month, Tsion Gonen, chief strategy officer at SafeNet spoke at the CIO Summit in Boston hosted by CDM Media. His presentation, “InfoSec’s Midlife Crisis & Your Future” opened with the blatant recognition that “We are totally failing.”

The upside to the torrent of daily breach announcements is that the industry is in the spotlight. Everyone is racing to find the most innovative solution to the information security problem.

“Security is hot right now. It’s hot because we’re totally failing,” said Gonen. “1800 cybersecurity startups were funded last year, and that’s driven by total failure,” Gonen continued.

According to Cybersecurity Ventures, “Worldwide spending on information security was expected to reach $71.1 billion in 2014, with the data loss prevention segment recording the fastest growth at 18.9 percent, according to a forecast from Gartner. Total information security spending is expected to grow a further 8.2 percent in 2015 to reach $76.9 billion.”

If the industry is failing, then why is so much money being spent?

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