Small and medium-sized businesses' (SMBs) spending on security
technology will increase nearly twice as fast as that for the
security technology market sector overall, according to a report
from IDC special report.
SMBs spend more than $5.6 billion on security technology in
2015, IDC forecasts, almost double the 5%-6% constant annual
growth rate (CAGR) for security products and solutions
SMBs are viewing investments in security technology as a means of
opening up, and
securing, new opportunities to leverage new technology
investments, IDC reports. Empowering growing numbers of mobile
workers and growing use of Cloud services has made investing in
security products, services and solutions a priority for SMBs,
according to IDC.
"SMBs are more focused on security as a way to gain access to more
capabilities, but less focused on security as a cost to be reduced
once minimum standards are met," commented Ray Boggs, vice
president for Small and Medium Business Markets research at IDC. A
"major expansion in key capabilities-- especially online ones" is a
"major driver of new SMB security investment,"
added vice president of Security Products Charles Kolodgy.
Key findings from IDC's report series include:
- The six key security product areas - endpoint, messaging,
network, Web, identity and access management (IAM), and security
and vulnerability management (SVM) - will all show strong growth
throughout the forecast period.
- The changing ways that security capabilities are implemented
will also represent opportunities for technology suppliers. SMB
spending on software-as-a-service and security appliances are both
forecast to grow at double digit rates in the coming years.
- Both small and medium businesses identify security as a key IT
investment priority. About 19% of small firms (under 100 employees)
cite improving security and security management as key IT spending
priorities. This percentage almost doubles to 36% among
medium-sized firms (100-999 employees).
- IDC identified six key elements for success in the SMB security
market: an effective Web site, education, dedicated products,
appliances, SaaS, and channel support. But while many
companies do well in three or four categories, no single company is
ahead of the pack in all six.
A recent InformationWeek report found that the advent of "bring your own
device" policies among businesses is driving growth in IT
security investments. Nearly 90% of business technology
professionals surveyed allow, or are moving to allow the use of
personally-owned devices inside the organization.
"To meet the needs of SMB customers, vendors need to understand
three components," Boggs continued. "These are: 1.) understanding
the big picture SMB opportunity: 2.) understanding the product
needs of SMB prospects: and 3.) understanding the SMB purchase