Coordinating Technology, Policy, Operations and Response Although effective IT security decisions focus largely on the related technologies, a number of opera- tional and managerial aspects must also be properly planned and executed in order to maximize the odds of success. On the resource planning side of the equation, bear in mind that the industry is grappling with an ongoing shortfall of trained personnel. According to Cybersecurity Ventures, there will be 2 million more vacant positions in the cybersecurity sector than competent people available to fill them. That number is expected to increase to 3 million in 2021. The law of supply and demand dictates that this situation will drive up the costs of hiring and keeping those individuals, who are now enjoying brisk traffic in counteroffers from other potential employers. It’s also fueling a substantial trend for out- sourcing these responsibilities to MSSPs and Trusted Advisors who forge a specific business model and competencies in the security space. According to Markets & Markets, the global managed security services market size is expected to grow from $24.05 billion in 2018 to $47.65 billion by 2023, at a Compound Annual Growth Rate of 14.7% during the forecast period. AVANT’s State of Disruption Report shows that companies across the broad market are moving to third-party managed security service providers at an annual rate of 5 percent RDI. This number ranges higher for specified verticals, especially E-commerce, which we measure at 12 percent RDI. RDI of Third-Party Security Services Adoption by Industry E-commerce Financial Medical Business Manufacturing 12% RDI 8% RDI 7% RDI 3% RDI 0% RDI Source: AVANT State of Disruption Report 2019 Similarly, companies among the broad market ranging in size from $100 million-$1 billion in revenue tend to be the most willing to adopt third-party security services, as shown below: RDI of Third Party Security Services Adoption by Revenue $1-10m $10-100m $100m-1b over $1b 1% RDI 5% RDI 7% RDI 7% RDI Source: AVANT State of Disruption Report 2019 Copyright © 2020 AVANT Communications, Inc. 21