The Cyber Protection Market
The cyber security market consists of organizations’ spending on software, hardware and service solutions that prevent or mitigate malicious cyber threats from criminal organizations and other bad actors. The importance and awareness of cyber security continue to increase, driven by the fact that we are becoming more dependent on technology and its integration, and on more frequent news about attacks and threat levels that compromise its proper functioning. Vulnerabilities are being exploit- ed, resulting in an increasing number of organizations being infected and having a significant impact on operation and reputation. We see an increased focus and move towards improving protection and procuring external professional support to tackle these challenges.
For organizations, cyber security is no longer just about protecting the integrity of systems infrastructure and applications, but also about protecting the organization from data loss across complex architectures, in different clouds and even on premises. The rising cost of security breaches, combined with the increasing sophistication of attacks and continuous expansion of threat vectors, have resulted in a skills and resource shortage in many organizations, driving the cyber security market towards external service providers. This all represents an attractive market for Trifork Security where we see considerable growth potential for the future.
Our Cyber Protection Business
Trifork’s cyber protection business has broad expertise and offers an end-to- end cyber capability before, during and after an attack. We have major projects in the areas of critical infrastructure, commerce, finance, enterprise clients, publishing, education, insurance, defense and other areas.
We seek to ensure that customer data is accessible, confidential, reliable and secured, while minimizing the risk of security breaches. We work for a mix of private and public large and medium-sized organizations, most of which are mature and have realized the need for cyber protection. We offer all the services and products customers need to identify, protect, detect, respond and recover from an attack. In addition, we offer cyber security assessments tailored to company size to help customers move from current state to the desired state of cyber protection.
We also offer Log-as-a-Service (LaaS) to customers who outsource log manage- ment and observation responsibilities. We offer SIEM-as-a-Service to customers who outsource the responsibility of building and operating a security incident platform, and finally SOC or Managed Detection & Response (MDR) for customers who do not have the capability and skills to investigate incidents and respond to incidents in their own environment.
In addition, we conduct analyses of security and operational data in the customer environment to visualize and provide intelligence on significant service impacts to the customer’s business. In offering these services, Trifork Security is also the reseller of hardware and 3rd party licenses to provide customers with a comprehensive toolbox for managing all these challenges.
In 2021, Trifork Security was awarded IBM Security Partner of the year, underlining the quality of our services and appreciation of Trifork’s contribution to a successful partnership. To internationalize these capabilities, we implemented Trifork’s new Operation Centre in Switzerland to lay the foundation for further growth of our cyber protection business.
Within the security area, Trifork Labs has invested in Promon, a Norwegian company working across a wide range of industries with various global Tier 1 customers.
Strategic Priorities
- Focus on large to midcap companies in Trifork’s core countries
- Expand the consulting business with lead- ing vendors
- Analytic/big data solutions within security and other sectors with a strong Trifork footprint
- Growth through acquisitions to add competencies and strengthen market position
