Small firms invest big in content security to protect data
Faced with increasing threats to their data, small businesses are investing heavily in content security products.
Market research firm Canalys forecasts that the content security market for small businesses will increase at a compound annual growth rate, or CAGR, of 7.8 percent between 2014 and 2017, reaching $3.3 billion by then.
The market grew 5.0 percent in 2013, reaching $2.4 billion, which represents 28 percent of all content security market spending during the year.
"Small businesses are beginning to understand the need to demonstrate to customers that their information is being handled securely, especially in light of numerous data breaches and the NSA scandal," says Nushin Vaiani, a senior analyst at Canalys.
In response, vendors are providing tailored content security products for small businesses. "These solutions focus on simple deployment, a combination of data protection features and ease of management," says Canalys research analyst Karissa Chua.
The top content security vendors are Trend Micro with a 17.2 percent market share, Symantec with 15.3 percent, McAfee with 14.6 percent and Kaspersky Lab with 5 percent, according to Canalys stats.
In response to increased competition, vendors have reduced their prices while increasing the number of features available in their products. This has provided small businesses greater choice and better value for their investment, judges Canalys.
Cloud-based content security products are particularly attractive to small businesses, given the low capital expenditure and remote management by a third party. Canalys forecasts small business investment in cloud-based security services will grow at a CAGR of 36 percent to 2017.
- see the Canalys release
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