Entry Level (SMBs and SoHos) Cybersecurity Solutions Market - The Rising Trend of E-Commerce

Cybersecurity is a collaboration of tools, policies, security concepts, security guidelines, risk management approaches, actions, training, practices, assurance, and technologies that can be used to safeguard the cyber environment and protect an organization’s and user’s digital assets. In line with progress in the information technology industry and its extended areas, businesses are adopting advanced technologies such as cloud-based services in their business operations. With an increase in adoption of cloud-based solutions, demand for cybersecurity has been on the rise. Cybersecurity solutions are being implemented in many industries.

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With an increase in malware attacks around the world, industries and consumers are becoming more concerned about protection of data. Further, due to the growing concerns about the security threats, initiatives are undertaken by governments for developing advanced security solutions. Therefore, opportunities for start-ups in the cybersecurity market are rising globally. Start-ups are introducing advanced cyber security solutions such as web-encrypting routers and automated platforms to provide data protection to organizations. These start-ups are creating future opportunities for the cybersecurity market.

The global entry level (SMBs and small office, small homes (SOHO)) cybersecurity solutions market can be segmented based on deployment, security, industry, and region. In terms of deployment, the entry level (SMBs and SOHOs) cybersecurity solutions market can be classified into on-premise and cloud. Based on security, the market can be categorized into endpoint security, cloud security, network security, application security, and others. In terms of industry, the market can be divided into IT & telecom, banking financial and insurance (BFSI), government, health care, manufacturing, retail, energy & utilities, transportation, etc. Demand for security solutions has been on the rise in the IT and telecom sector, especially for applications such as business continuity, risk management, and network security, among others. Furthermore, advancement of technology and its growing adoption in the BFSI sector in order to deliver fast and personalized services to end-users are estimated to propel the entry level (SMBs and SOHOs) cybersecurity solutions market in the BFSI sector.

The rising trend of e-commerce has further added to demand for online transactions and need to monitor and secure the same. Moreover, the push from BFSI companies for online transactions to boost consumer turnout and transactions has made it difficult to ensure compliance.

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In terms of region, the global entry level (SMBs and SOHOs) cybersecurity solutions market can be split into North America, South America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). North America is estimated to dominate the entry level (SMBs and SOHOs) cyber security market, followed by Europe. The U.S and Canada are projected to drive the expansion of the entry level (SMBs and SOHOs) cybersecurity solutions market in the region.

Stringent regulations and rise in security risks from governments and businesses in other regions have prompted companies in North America to opt for specialized service providers. Moreover, high concentration of cybersecurity as a service provider in the region further helps them in leveraging competitive pricing. In Asia Pacific, countries such as South Korea, China, India, Japan, Singapore, etc. are contributing to the expansion of the entry level (SMBs and SOHOs) cybersecurity solutions market. This is mainly due to the initiatives undertaken by the governments in these countries to support the growth of small and medium scale enterprises.

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