Why Security Is a Priority for Software Buyers in 2024

IT security is leading tech investments

As technology grows more intricate, businesses find themselves in need of IT and security to safeguard data, software applications, and digital interactions, as well as to protect against system vulnerabilities, such as malware and ransomware attacks. 

Therefore, it comes as no surprise that IT security software ranks as the top purchase category in our survey with 28% of respondents buying IT- related software, including:

• Cybersecurity and data protection software (14%): used to prevent unauthorized access to data that is stored electronically, shielding businesses from data theft, malicious data manipulation, and unauthorized system usage by third parties. This type of software saw significant demand from buyers in Brazil (20%), Japan (20%) and India (17%). 
• IT management software (8%): provides the tools and process for controlling and monitoring computer networks, including operating systems, applications, network devices, security measures, mainframes, access control systems, web services, and databases. This type of software was more popular among buyers in the U.S. (11%), India (10%) and Germany (10%).
• IT architecture software (6%): comprising VPN, authentication and cloud storage allows remote employees to securely access corporate network through an encrypted connection and work on a unified, synced repository of corporate files. Buyers from Germany (10%), the U.K. (7%) and Brazil (6%) showed a stronger preference for this type of software. 

However, the importance of security goes beyond the need for IT security software. Buyers look for security features and credentials when purchasing any type of software.

Software security is the top factor when selecting a product, second to price

When searching for software, the most important product factors buyers look for are pricing and security. The emphasis on cost (49%) is not surprising in the current economic environment marked by uncertainty and increased budget scrutiny. 

However, it's noteworthy that security (48%) follows closely behind, taking precedence over factors traditionally associated with software functionality (40%) and user experience (38%). These results underscore the shifting landscape of software investment, where security concerns are increasingly taking center stage alongside financial considerations.

It’s clear that software buyers have security features front of mind during the purchase process, but what exactly are they looking for? We asked which features they consider “must-have,” and more than any other, data backups are the most critical factor for 76% of software buyers***. This makes sense in an era of rampant ransomware that makes data backups absolutely crucial. 

Coming in second is the ability to receive security notifications (72%), followed by encryption in transit (68%), and encryption at rest (67%).

Security certification and data privacy are the top reasons buyers select a vendor

Nearly half (46%) of buyers prioritize security certifications and data privacy practices when choosing a software vendor. By opting for a provider with robust security credentials, buyers aim to mitigate risks to their business, minimize financial implications, and forestall any downtime or interruptions.

These certifications, such as Cloud Security Alliance certification, Cybersecurity Maturity Model Certification (CMMC), Payment Card Industry Data Security Standard (PCI-DSS), and the NIST Cybersecurity Framework (NIST CSF), demonstrate the reliability of the software and ensure that the vendor adheres to specific protections and standards.

Highlight software security in your product messaging to establish trust

Nearly half (45%) of businesses stopped using a specific software platform due to security issues, while nearly one-third (32%) of buyers who regret their software purchase wished they had conducted a security review beforehand.

As security concerns continue to be deal breakers for a majority of software buyers, SaaS providers should adjust their go-to-market strategy to build trust. Prioritizing security in product offerings and highlighting security features in the product messaging across marketing channels is key to establishing credibility among software buyers.

On the Gartner Digital Markets platform, you can achieve this by:

• Optimizing your profile with product security messaging. This includes updating your product description and incorporating screenshots of security certifications to instill confidence. Also, make sure you assess and include the most valued security features in your profile to appear when buyers filter for security features. 
• Collecting user reviews that validate your security claims. Provide guidelines for writing reviews, directing reviewers to focus on aspects such as security features.

Log into your Gartner Digital Markets account and optimize your profile to ensure buyers understand how your software meets their security needs. 

Methodology

*Gartner Digital Markets’ 2024 Tech Trends Survey was designed to understand the timeline, organizational challenges, adoption & budget, vendor research behaviors, ROI expectations, satisfaction levels for software buyers, and how they relate to buyers’ remorse.

The survey was conducted online in July 2023 among 3,484 respondents from the U.S., U.K., Canada, Australia, France, India, Germany, Brazil, and Japan, with businesses across industries and company sizes (5 or more employees). Respondents were screened to ensure involvement in software purchasing decisions.

**Gartner Digital Markets' 2024 Software Buying Behavior Survey was conducted to understand the makeup, triggers, budgets, and challenges of software buying teams at global businesses across industries and sizes. We sought to uncover the software types these buyers are adopting, their evaluation methods, and what factors convince them to make a purchase, from vendor reputation and sales team interactions to content materials and user reviews.

The survey was conducted online in August and September 2023 among 2,499 respondents from the U.S., U.K., Canada, Australia, France, India, Germany, Brazil, and Japan, with businesses across industries, employing between 5-10,000 or more workers, and reporting up to $1 billion in annual revenue. Respondents were screened to ensure involvement in software purchasing decisions.

***Gartner Digital Markets’ 2023 Security Features Survey was conducted in January 2023 among 289 respondents to learn more about software security preferences among U.S. businesses. All respondents were screened for involvement in the software purchasing process at their company.