The European security market is set to see spending swell by 16 per cent to $11.5bn in 2018, according to Canalys, as SMBs will turn to the channel amid mounting pressure to comply with GDPR.
Set to be implemented in less than a years' time on 25 May 2018, Canalys claims that SMBs - which are less likely to employ dedicated IT managers, or have stringent privacy policies in place - are likely to turn to their channel partners for advice in GDPR compliance.
"Our research shows that large businesses are well informed on information security regulations, with resources in place to ensure compliance. With ransomware threats such as WannaCry causing havoc, shareholders will be more willing to accept increased data security and compliance budgets to protect their long-term investment," said senior analyst for Canalys Nushin Vaiani.
"SMBs naturally have fewer resources, putting constraints on implementation. But there are potentially massive fines for non-compliance with GDPR, putting SMBs under threat of bankruptcy. Businesses must take action now to safeguard from this danger."
Previous Canalys research suggests that many SMBs will not be willing to significantly increase security budgets leading up to GDPR, and advised channel partners to open up cost-effective and easily-implemented offerings to accommodate modest budgets.
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