Cyber Security Solutions for SMBs Market Insights – 2030
Small businesses are equally at risk of cyber security threats as large enterprises. A common misconception for small businesses is an idea of security through obscurity, so, it is easy for attackers to target small businesses at once. Small businesses often have less stringent technological defences, less awareness of threats and less time and resource to put into cyber security. This makes them an easier target for hackers than bigger organizations.
In addition, even the smallest business can deal with large sums of money, or have access to huge amounts of customer data, which, under regulations such as GDPR, they are obligated to protect. Small businesses also often work with larger companies. Hence, such businesses are vulnerable to the cyber-attacks by hackers as a way to target larger companies.
Impact of COVID-19 on Cyber Security Solutions for SMBs Market-
- The emergence of COVID-19 pandemic has severely affected almost all industries across the world. Further, the restrictions imposed by governments in response to the coronavirus pandemic have encouraged employees to work from home, and even ‘stay at home’. This has led to an increase in cyber threats and network security attacks.
- The outbreak of COVID-19pandemic has created new challenges for businesses as they adapt to an operating model in which working from home has become the ‘new normal’. Companies are accelerating their digital transformation, and cyber security is now a major concern.
- In addition, there is a notable ramp-up in technologies such as work-from-home infrastructure, collaboration tools, virtualization infrastructure, VPN networking, mobile devices, security, and desktop support during the pandemic. This generates large amount of data and can require high end technologies to analyze.
- Furthermore, there are strong indications that the current decrease in demand for technology and digital solutions is just a short-term phenomenon. In the medium-to-long run, the impact of COVID-19 on technology may be extremely positive as everyone is forced to embrace new technologies and discover their benefits. Additional investments in digital infrastructure can be expected.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Cyber security market is implementing core technologies such as AI, big data, machine learning, and cloud for security units. Rise in number of e-commerce platforms is projected to boost cyber security market growth. In addition, the number of factors such as enhanced cyber security, increase in advancement in security technologies, growth in awareness toward cyber threats, and rise in demand for IOT devices fuel growth of the market. However, the lack of awareness and budget constraints for SBMs may hamper the growth of the market globally.
Rise in Number of Advanced Technology for Cyber Defense
Cyber threats are increasing day by day, so small and midsized vendors are incorporating advanced cyber security technologies such AI, ML, and Cloud into their security solutions in the network connected infrastructure. These advanced technologies can analyze huge data from past threat records and identify new threats to save businesses from cyber-attack. These technologies play an important role in business security purpose for identifying, analyzing and safeguarding data from cyber threats.
Lack of Expert Budget Constraints for SMBs to Hinder Growth
The descriptive analytics is the most common and easy way, which is done visually. However, the increase in number of online security threats and the requirement for advanced cyber security solutions is growing exponentially. The security solutions which businesses are using are not proficient enough to be safe from advanced threats of cloud, network and more. For that, they require advanced security solution technologies which can identify and analyze data from cyber threats, however, there is lack of professionals and experts in developing advance security solution in SMBs. Due to high cost for implementing and updating security solutions and services, a delay in the adoption of these technologies among SMBs can be seen.
Key Benefits of the Report
- This study presents the analytical depiction of the global analysis of vendors of cyber security solutions for SMBs market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global analysis of vendors of cyber security solutions for SMBs market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the global analysis of vendors of cyber security solutions for SMBs market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides detailed global analysis of vendors of cyber security solutions for SMBs market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Global Analysis of Vendors of Cyber Security Solutions for SMBs Market Research Report
- Which are the leading players active in the analysis of vendors of cyber security solutions for SMBs market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the global analysis of vendors of cyber security solutions for SMBs?
- What are the projections for the future that would help in taking further strategic steps?
Cyber Security Solutions for SMBs Market Report Highlights
By Industry Vertical
Key Market Players
Microsoft Corporation, Cisco, Bitdefender, VMware, Kaspersky Lab, BlackBerry, McAfee, Barracuda Networks, Avast, Check Point