IT security market in Europe to grow 16% in 2018, as GDPR legislation kicks-in

Businesses large and small are scrambling to assess their General Data Protection Regulation (GDPR) readiness, with less than a year to go until its implementation on 25 May 2018. The new framework demands a reassessment of the everyday operational structure for businesses that handle personal data in the EU. Canalys forecasts that this will spur the IT security market in Western and Central Eastern Europe to grow 16% to US$11.5 billion in 2018.

However, there are significant differences in preparedness between companies of varied sizes. “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 Canalys Senior Analyst 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”, added Vaiani.

Overall, the net effect on SMBs will be significant and many are turning to their existing relationships with channel partners for help. Canalys expects this trend to accelerate, as SMBs realize they have little time left to implement changes if they are to meet the deadline. For more details on the business opportunity for channel partners, in various forms, please refer to the latest free report from Canalys here: http://bit.ly/2rMblu2 

For more information, please contact:

Canalys EMEA: +44 118 984 0520
Nushin Vaiani: nushin_vaiani@canalys.com +254727856345
Claudio Stahnke: claudio_stahnke@canalys.com +447881934784

Canalys APAC (Shanghai): +86 21 2225 2888
Daniel Liu: daniel_liu@canalys.com +8615800756471

Canalys APAC (Singapore): +65 6671 9399
Jordan De Leon: jordan_mari_deleon@canalys.com +6597127835
Sharon Hiu: sharon_hiu@canalys.com            +6597779015

Canalys Americas: +1 650 681 4488
Alex Smith: alex_smith@canalys.com +16507994483

About Canalys

Canalys is an independent analyst company that strives to guide clients on the future of the technology industry and to think beyond the business models of the past. We deliver smart market insights to IT, channel and service provider professionals around the world. We stake our reputation on the quality of our data, our innovative use of technology and our high level of customer service.

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