Luton, Bedfordshire, United Kingdom, June 13, 2025 (GLOBE NEWSWIRE) — Market Overview
The global cybersecurity solutions market catering to Small and Medium-sized Businesses (SMBs) is undergoing rapid transformation. In 2024, the market is expected to reach an estimated value of USD 25 billion. Fueled by the intensifying threat landscape, regulatory pressures, and growing digital dependency, the market is forecasted to expand to approximately USD 70 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 11% during the 2025–2034 period.
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SMBs, historically underserved in the cybersecurity space, are now increasingly acknowledging the need for robust digital protection. The growing frequency of cyberattacks—ranging from ransomware and phishing to sophisticated malware—has made cybersecurity a strategic imperative. At the same time, evolving customer expectations and regulatory frameworks are compelling organizations to fortify their cyber defense mechanisms.
Key Market Drivers
Several key trends are propelling the cybersecurity market for SMBs forward. A significant catalyst is the adoption of cloud-based security solutions, which offer flexibility and scalability. The advancement of artificial intelligence (AI) and machine learning (ML) is enabling more effective and automated threat detection systems, minimizing human error and response time. Additionally, the widespread shift to remote and hybrid work environments has accelerated demand for endpoint and network security solutions.
Another noteworthy trend is the emergence of zero-trust architecture, which eliminates implicit trust and continuously verifies access at every stage of a digital interaction. This paradigm shift is gaining momentum among SMBs as it offers layered protection against unauthorized access and data breaches.
Market Challenges
Despite a promising outlook, the market faces certain challenges. A major roadblock is the limited cybersecurity budget typically available to SMBs. Many smaller enterprises struggle to invest in advanced security tools or hire in-house experts due to financial constraints. Compounding this issue is the global shortage of skilled cybersecurity professionals, which hampers the effective implementation of security measures.
Moreover, the rapidly evolving nature of cyber threats poses a constant challenge. Attack vectors are becoming more complex, requiring continuous innovation and adaptability from solution providers. As a result, cybersecurity strategies that are effective today may become obsolete in the near future without timely updates and proactive risk management.
Market Segmentation and Insights
By Solution Type
- Endpoint Security: This segment commands a significant portion of the market, estimated at around 25%. The shift to remote work has made endpoint protection vital as cyberattacks increasingly target individual devices. Endpoint security ensures that laptops, smartphones, and other connected devices are shielded against unauthorized access and malware.
- Network Security: Holding approximately 20% of the market, network security remains foundational. SMBs are focusing on securing their internal systems using advanced tools like firewalls, Intrusion Detection Systems (IDS), and Intrusion Prevention Systems (IPS).
- Cloud Security: As cloud adoption grows, so does the need for cloud-centric security. With around 18% market share, this segment is pivotal in protecting data stored and processed on cloud platforms. Compliance requirements and trust in SaaS platforms are key growth enablers.
By Deployment Type
- On-premises: Despite the shift to the cloud, many SMBs—especially in highly regulated industries—prefer to keep security infrastructure on-site. This segment represents roughly 23% of the market due to its perceived control and privacy benefits.
- Cloud-based: Cloud-based deployments are growing swiftly, constituting about 30% of the market. These solutions are preferred for their cost-effectiveness, ease of deployment, and automatic updates.
By Service Type
- Managed Security Services (MSS): Managed services account for approximately 22% of the market. Many SMBs rely on third-party providers to manage their security operations, as it allows access to expert services without needing an in-house team.
- Professional Services: Including consultation, implementation, and training, this segment holds 12% market share. It enables SMBs to better understand threats and implement customized security measures effectively.
By End User
- BFSI: Financial institutions represent 20% of the market. With stringent data protection regulations and a large volume of sensitive customer data, the BFSI sector remains one of the top adopters of cybersecurity solutions.
- Healthcare: Contributing 15%, the healthcare sector is heavily regulated and prone to cyberattacks targeting patient data. Compliance with standards like HIPAA drives demand for comprehensive security frameworks.
- IT & Telecommunications: Together, these sectors account for approximately 25% of the market, given the continuous exposure to cyber threats and the need for operational integrity.
By Organization Size
- Small Businesses: This segment often struggles with constrained resources but is becoming increasingly aware of the need for cybersecurity. Vendors offering affordable, tailored solutions are gaining traction here.
- Medium Enterprises: With more resources and complex operations, medium-sized firms are actively investing in advanced security tools, contributing significantly to market expansion.
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Market Segmentation
By Solution Type:
- Endpoint Security
- Network Security
- Cloud Security
- Application Security
- Identity and Access Management
- Data Security
- Security Information and Event Management (SIEM)
By Deployment Type:
- On-premises
- Cloud-based
- Hybrid
By Service …