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Dec 06, 2023

Global Observations and Market Outlook for 2024

Alex Mosher - CRO - Armis
By Alex Mosher

Chief Revenue Officer

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This blog is part of the 2024 Cyber Predictions blog series where Armis Experts share their thoughts on trends and technologies shaping the future of cybersecurity.
Check out all our 2024 predictive blogs →

 

As the CRO at Armis, I’m responsible for overseeing the global sales function, which includes Americas Enterprise, International Sales (EMEA & APJ), US Federal, US SLED, Strategic Alliances, Channel Sales, Global Sales Enablement & Related Personnel.

Consistent Growth Around the Globe

As I travel around the world to meet with customers, prospects and partners, it always strikes me how customer demand continues to drive our innovation efforts. Our customers are unwavering in their trust of Armis and show this through their increased YoY investment and expansion. From covering more geos to delivering more use cases like consolidating and prioritizing vulnerabilities, or automating their remediation workflows, I’m proud that our growth and retention is reflective of our value and position as a market leader. In the past 12 months, the launch of the Armis Centrix™ platform has cemented this value: the fact that all of our products are part of the same platform enables customers to benefit from robust solutions that solve real critical issues;

  • Manufacturing companies turn to Armis to ensure their critical infrastructure and stay online 24/7, 365 days a year.
  • Train Authorities and Airlines in the US and Europe count on us to better protect their attack surface and address their total level of exposure.
  • Armis is instrumental in supporting retail customers through global store expansion and security consolidation through M&A.
  • Health Delivery Organizations (HDOs) use our purpose-built products to address their needs for medical and IoT device security.

We protect all verticals and industries including Manufacturing, Health and Medical, Information Technology, Energy and Utilities, Financial Services, Transportation, Telecommunications and Media, Public Sector and many more. We take great pride in the fact that we secure the backbone of the economy as well as states and governments. Our growth is across the board: North America is witnessing a surge in success and we are seeing incredible momentum in our international markets as well as Federal, State and Local Government bodies. It’s not just about numbers. It’s about expanding our reach and making our innovative cybersecurity solutions accessible to organizations around the world. On a personal level, as the CRO at Armis, it is a privilege to contribute to our company’s values, shared goals and the continued success of my global sales teams.

Any Attack Surface is Huge, Complex and Dynamic

Over the past year, I have spoken to organizations in every region and they all face unprecedented cyber risk due to blind spots in their environment. This is being compounded by security teams that are overwhelmed with threat intelligence data. My anecdotal evidence has been confirmed by our latest Attack Surface Management (ASM) research. In May 2023, Armis surveyed 900 IT security and IT decision makers of large global enterprises in the U.S., UK, France, Germany, Singapore, Australia and New Zealand seeking to understand the key challenges they faced managing their ever-changing attack surface:

  • Global respondents shared that only 60% of their connected assets are monitored on average, leaving 40% unmonitored
  • 61% of global organizations confirmed they had been breached at least once over the last 12 months, with 31% experiencing multiple breaches during the same period.

We see a clear correlation between a large percentage of the attack surface remaining unmonitored and the high rate of breaches experienced over the past year.  Armis offers the products and provides recommendations to businesses on what they need to do to address them, which is why I remain confident that demand will remain resilient and extremely high as we move into 2024.

Cyberwarfare and Artificial Intelligence (AI)

Customers are voicing concerns about AI-tools and techniques that become more sophisticated and widely available to the bad guys. Nation-state sponsored cyberattacks are able to exploit vulnerabilities in even the most well-protected systems. The industry must respond as attacks are likely to be tailored to specific targets and exploit vulnerabilities not yet known to the public.

At Armis we have always put data and asset intelligence at the heart of everything we do. The Armis Asset Intelligence Engine is the brains behind our platform. It’s a collective AI-powered knowledge base that monitors billions of assets world-wide in order to detect and address real-time threats across the entire attack surface. Utilizing the most effective AI-tools to provide world-leading cybersecurity technology is how we truly make the difference for our customers.

Resilience During Turbulent Times

I’m confident that demand for our products will continue to rise as organizations will need to stay safe and resilient, also taking into consideration some of the new compliance regulations that will come into effect like U.S. Securities and Exchange Commission (SEC) Cyber Disclosure Rules or the NIS2 directive as EU-wide legislation. For Healthcare Organizations specifically, mandates from the U.S. Food and Drug Administration (FDA), the UK National Health Service (NHS) Data and similar guidelines being developed across Europe, are expanding the reach of medical device security regulations and will continue to do so.

2023 also brought promising progress when it comes to improving cybersecurity from a U.S. public sector standpoint. The Biden-Harris administration’s National Cybersecurity Strategy, the U.S. Cyber Trust Mark Program and CISA’s 23-02 binding operational directive are examples of positive traction.

With an election year in 2024, continued geo-political tensions and the rise of the double-edged AI sword, it will be critical to continuously work to identify, anticipate, and prepare for the unexpected. At Armis, each challenge presents an opportunity for us to improve and innovate.

2024 Cyber Predictions

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