Cyber Risk Quantification Solutions, 2020: Market Update and Vendor Landscape

As cyber risk quantification (CRQ) technology matures, and as CRQ solutions make more use of advanced analytics (including artificial intelligence [AI]), we are seeing a divergence in the market. Encouraged by the prospect of easier sales, CRQ solution vendors are targeting corporates rather than financial services companies. And as the number of vendors offering CRQ solutions grows, CRQ offerings themselves are diversifying into two main approaches: ‘governance, risk management and compliance (GRC) for cyber’ and ‘statistically driven CRQ’ offerings. The vendor landscape for CRQ solutions is also evolving: the range of CRQ methods being used is expanding significantly, and these methods are maturing technologically. In addition, driven partly by demand among corporates, vendors have made major developments to their visualization capabilities.

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