Let’s identify those hot opportunities! According to McKinsey 85% of small and midsize enterprises intend to increase IT security spending until 2023. The Global Cloud Security Market size was estimated at $41.81b in 2021, $48.32b in 2022, and is projected to grow at a CAGR of 15.73% to reach $100.50b.
The available Cisco security promotions help drive deals and profitability in these main opportunity areas:
The IDC Hybrid Work Maturity Study shows that 45% of business and technology leaders say secure remote and hybrid work models will be an embedded part of accepted work practices moving forward and 93% are planning to maintain or increase spending in this area for 2022. End to end security is what keeps in-office and at-home workers safe and protected.
Hybrid work for smaller businesses
Small businesses have smaller office networks, less in-house IT expertise and often smaller budgets. But they're going through the same hybrid working trends as the largest enterprises. They too need to support more traffic securely across their networks to support constant video meetings between on-site and remote employees.
The number one priority of small businesses is to improve their security and privacy capabilities. 72% of SMBs say they have experienced a cyber-attack in the past year. It’s a growing global market ($4.6 TAM) with high-margin service opportunities and predictable, long-term recurring revenue. Read the Why Cisco Security for Small Business tip sheet for more details.
Hybrid work for larger businesses
Covid accelerated trends in working practices, first to ubiquitous home working, and now to a new world of hybrid working, where employees and teams move fluidly from home to office. A strong wired and wireless network is what keeps in-office and at-home workers connected with voice, video and application access. It's also core to new 'smart building' use cases, where network data is used to monitor occupancy and connect cameras and IoT sensors.
The transition to cloud and SaaS security is continuing to accelerate due to the following trends:
Customers of all sizes are turning to the cloud and SaaS to drive their digitization, to do things they could not do before and because of the significant savings and improved productivity they can achieve.
Security is a large and highly fragmented market with more than 3,500 vendors and many customers use more than 50 different security products. Successful security requires a shift from point solutions to integrated and open architectures and Cisco’s breadth of integrated solutions platform approach can help customers to reduce complexity and manage risk more efficiently and can help us to differentiate from point product security vendors.
Organizations of all sizes now turn to Secure Access Service Edge (SASE) to reduce complexity, bring security and connectivity closer together and optimize experiences for users everywhere.
With over 30 years of experience in networking and security and recognition as the leader in WAN edge and zero-trust security, Cisco are the trusted partner for customers wherever they are on their SASE journey. Cisco offers ALL of the core capabilities of a SASE architecture today, and is bringing them together in a single, integrated subscription service in the future.
Gartner, who coined the SASE term, recommends customers to look for a partner based on their long-term vision, someone who can help to accelerate the journey to SASE like Cisco, instead of buying point solutions or looking for a vendor who has only what they need today.
Only 5% of enterprises receive these SASE services consolidated from one vendor today, but by 2023, Gartner predicts that 20% of enterprises will work through a single vendor for their SASE needs. This shift from “best of breed” to “best of platform” will drive efficiency for customers networking and security teams and we need to leverage this Cisco key competitive advantage.
By deploying Umbrella across Meraki MX devices, customers will get simple and scalable security that will help them to get a fast start to their SASE journey. It makes the whole solution easy to consume, fast to deploy and simple to manage. With the The Meraki Umbrella SD-WAN Connector customers can deploy cloud security across SDWAN fabric with only few clicks.
Read the Cisco Meraki MX and Cisco Umbrella overview for more details.
