Summary Bullets:
• With a market value of $20.32 billion in 2027, the SMB cybersecurity market in Western, Central, and Eastern Europe is worth pursuing, and businesses are underserved.
• Leading Western MSSPs will require investment to redefine their propositions for the SMB segment, utilizing a high-touch, asset-lite, automated proposition.
The Western, Central, and Eastern European SMB Segment is Worth Pursuing
According to GlobalData, total cybersecurity revenues for Western, Central, and Eastern Europe for the small and medium-sized business (SMB) segment (0-249 employees) will reach $20.32 billion in 2027 with a CAGR of 13.3%, whereas the large business segment (250+ employees) will generate $38.37 billion with a CAGR of 11.24%. At a high level, these revenue forecast projections are indicative of SMBs being an important segment for cybersecurity. Consequently, cybersecurity providers, including large tier one and two players as well as local smaller players, are all attempting to pursue opportunities in the SMB segment. However, the downside is that the SMB segment, like the corporate segment, has been suffering as a result of the global economic slowdown, resulting in tighter spending on enterprise ICT and IT. But there is some hope with incremental falling inflation in countries like the UK, influencing business confidence in 2024.
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