Cyber security: selling to small and medium-sized businesses
Welcome to our first collection of articles looking at security, with particular focus on the small and medium-sized business (SMB) market (that is, firms with up to 1000 employees).
Many vendors give less attention to SMBs than to large enterprises. SMBs can be harder to serve, spend less, are more price-sensitive and often value ease of use over the performance or features of a solution. However, we believe that SMBs occupy an exciting area of the market; indeed, spend on security continues to grow as firms look to improve their protection. We forecast that SMBs’ spend on security worldwide will almost double between 2019 and 2024 (from a starting point of USD50 billion). Limited vendor attention means that this market is not well-understood and is often poorly served, but it offers a lucrative opportunity for providers who do get their product right.
The articles featured in this brochure give a flavour of our security research. They cover the following topics.
- Cyber-security vendors’ revenue is growing steadily, helped by acquisitions and strong demand.
- Acquisitions are a standard way for cyber-security service providers to expand capabilities and presence.
- Business survey 2019: almost 25% of small businesses feel that their cyber-security protection is inadequate.
- Business survey 2019: cyber-security vendors need to change their approach to win in middle-income markets.
- Sophos should become a more stable and stronger competitor thanks to its acquisition by Thoma Bravo.
- Broadcom’s purchase of Symantec’s enterprise unit will create opportunities for other cyber-security players.