Digital economy protected by online security: Fortinet

Security vendor finds the growing importance of the Internet has transformed the security industry.

The security industry is ensuring the Australian digital economy continues to grow, according to Fortinet.

South Pacific VP at the security vendor, Kevin Dyson, said governments and businesses are continuing to accelerate most of their investments in digital services.

“However, protecting and enhancing trust and confidence in that digital economy is central in enabling society in realising the full potential of the digital assets,” he said.

In Australia, the digital economy powered the Internet is growing by eight per cent per annum, and over 2.5 times the rate of the overall economy.

As a result, Dyson said the security industry is more relevant than ever before.

“It will help keep the digital economy secure as it expands,” he said.

Growth in importance

The security industry was not always this prominent in the IT space, and Dyson attributes the change to the world going online.

“Since the adoption of the Internet protocol, every technology innovation has been delivered without security concepts,” he said.

“People, enterprises and governments had no idea or demand for security in technologies until the fundamental value inherent in the Internet was recognised.”

In recent years, Dyson said the Internet gained momentum locally for its ability to “supercharge the digital economy.”

To illustrate his points, Dyson points to how the ecommerce space struggled in the early days of the Internet.

“Fast forward to the present, and Internet and mobile channels account for a greater share of transactions in both number and value than traditional and legacy channels in many industries, such as banking and finance,” he said.

Patrick Budmar covers consumer and enterprise technology breaking news for IDG Communications. Follow Patrick on Twitter at @patrick_budmar.

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