Small Business Security Spending to Top $5.6 Billion in 2015: IDC ...

Small to medium-size businesses (SMBs) are continuing to spend on security technology which showed strong growth and is set to pass $5.6 billion in 2015, according to a research report from IT analytics firm International Data Corporation (IDC). Midmarket spending on security products and services is forecast to double the 5-6 percent growth in overall SMB IT spending, the report said.

As businesses adopt cloud computing and the prevalence of connected mobile devices?not to mention IT?s struggled with fast-growing bring your own device (BYOD) programs?security spending has risen as SMBs adapt these technologies to boost their resources. Charles Kolodgy, vice president of security products, highlighted the expansion in key capabilities, particularly Web-based ones, as a driving force behind small business investment in security. ?Small and medium-sized businesses have as much need for information technology as much larger companies,? Kolodgy said in prepared remarks. ?They also require security because they are a target of cybercriminals. But there are unique issues that prevent SMBs from just buying what large enterprises purchase.?

The report determined endpoint, messaging, network, Web, identity and access management (IAM), and security and vulnerability management (SVM) as the six most important security product areas and predicted all would exhibit strong growth through 2015, while SMB spending on software-as-a-service and security appliances are both forecast to grow at double digit rates in the coming years, offering new opportunities for technology suppliers.

IDC also noted in the report that an effective Web site, education, dedicated products, appliances, SaaS, and channel support were six critical areas for supplier success in the SMB space, but also pointed out it was unlikely for a supplier to dominate all six areas of the market, though some may have the expertise to stand out in three or four specific areas. SMBs in general have a keen eye toward IT security investment, with just under a fifth of survey respondents with less than 100 employees citing security management and improvement as a top priority. Among medium-size firms (100-999 employees), 36 percent of respondents felt the same way, according to the report.

?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,? Ray Boggs, vice president for small and medium business markets research at IDC said in a prepared statement. ?To meet the needs of SMB customers, vendors need to understand three components,? Boggs continued. ?These are: understanding the big picture SMB opportunity, understanding the product needs of SMB prospects and understanding the SMB purchase process.?

Article source: http://www.eweek.com/c/a/Security/Small-Business-Security-Spending-to-Top-56-Billion-in-2015-IDC-875794/

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