The September Business Leadership Series Webinar titled Opportunities for SMEs in Cybersecurity featured presentations from Dan Woolley, Managing Director at Ponderosa Management Group and Matt Whitmarsh, EVP of a successful cybersecurity SME.
According to CSO Magazine, what’s in store for the future of the cybersecurity industry can be summarized by the following points:
Today, the large companies that provide cybersecurity technology cannot keep up with the threat, technology, and innovation. Because of this, companies like Microsoft, are investing into early-stage companies. The landscape where technology is coming from is rapidly changing and the cybersecurity sector is gaining momentum. For example, in 2017, cybersecurity startups raised a record $7.7B across 552 deals, including a record of 10 $100M+ mega-deals.
Matt Whitmarsh agrees that there is immense opportunity with high risk when it comes to SMEs entering the cybersecurity market. In fact, cybersecurity unemployment is at 0% and there are 1 million unfilled cybersecurity jobs globally today and by 2021, there will be 3.5 million unfilled jobs globally. In 2018, cybersecurity spending reached $96 billion in 2018.
Both speakers agree because of the high demand, now is a great time for SMEs to enter the cybersecurity market. According to Ginni Rometty, IBM’s CEO, “Cybercrime is the greatest threat to every company in the world.”