SMB cyber security market set to swell

The UK’s cyber security market is expected to grow by as much as 10 per cent in the next five years, with a particular focus on the SMB market.

Speaking at Giacom’s new MSP Cyber Secure Live event, held at the London Science Museum on November 22nd, COO Nathan Marke emphasised the opportunity this presents for MSPs to make the transition from selling one type of product to a portfolio of secure IT solutions.

He said: “What we are seeing in the cyber security market is positive, with SMBs recognising the threat and investing to protect themselves. However, very few SMBs employ IT and security skilled staff and hence there are growth opportunities for local expert technology providers to deliver this expertise.”

The event was headline sponsored by Microsoft, MSP Cyber Secure Live spotlighted the latest advancements which are shaping the market, including the rise of artificial intelligence in both cyber-attacks and defence.

John Mitchell, EMEA SMB Sales Director – Modern Work and Business Applications at Headline Sponsor Microsoft, added: “The need for cyber security is not going away. More than three quarters of SMBs think cyber threats are becoming more of a business risk, and companies are looking for ways to protect themselves from new forms of attack.

“There is a huge opportunity for MSPs to help meet the needs of small businesses and keep them safe from hackers.”

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