Security Spending Among Small Businesses Tops $19 Billion: AMI
The increase in cloud-based security spending is being driven by the proliferation of mobile devices and BYOD initiatives.Small and midsize business spending on-cloud based security solutions is driving the worldwide market for SMB security, which is expected to experience an overall compound annual growth rate of more than 10 percent from 2011 through 2016, according to IT research firm Access Markets International Partners 2012 "Global SMB Security Market Assessment." Security spending among SMBs topped $19 billion in 2011, according to AMI Partners. Cloud security services currently accounts for nearly 17 percent of the worldwide security spending and is projected to increase to 24 percent by 2016, according to the report. Among the key drivers of cloud-based security are weak economic conditions and capital expenditure restraints, making the cloud payment model a more attractive way of procuring information and communications technology (ICT) solutions.
Security is a complex issue with rapidly changing permutations. Widespread lack of technical resources and expertise is leading to an increasing desire to outsource the problem among small and medium businesses, comments Hugh Gibbs, AMI Partners vice president of research for EMEA (Europe, the Middle East and Africa) and report author. This is presenting major opportunities for managed service solutionsparticularly for skilled, local channel partners and managed security service providers.