TechSci Research predicts that the global market for cybersecurity will grow at an 8.3 percent compound annual growth rate until 2021, with wireless and cloud security at the forefront. Network security may have dominated previous growth, but the future will witness an eruption in cloud security.
1. Offer Something New
When entering a market in which entrenched MSSPs are selling a well-established product set, you better offer differentiation. The best approach: Don’t try to make a name as a new service provider by offering a mature product (say, vulnerability scanning).
2. Increase Your Lineup of Skilled Workers
One of the greatest benefits you can offer is to meet the need for skilled workers. A recent study by ISC2 predicts a shortage of 1.5 million security professionals with the necessary qualifications by 2019. Enterprises globally are challenged with finding and retaining enough quality people and need to outsource in order to maintain their security programs.
3. Align with Existing Technologies
Integrating disparate technologies is another giant issue. There’s a pretty high level of fatigue with customers that are buying point solutions — lots of individual products that don’t talk with one another can actually hinder security teams.
4. Understand Buying Behavior in Target Markets
It’s very important to understand how customers buy in the markets where you’re looking to sell. A general rule: It’s much easier to introduce a disruptive technology than it is to introduce a disruptive way of doing business.
5. Understand Data Privacy and Labor
Some countries have very specific requirements that limit data crossing borders. For example, if you’re thinking about expanding into Germany, it’s important to understand as a service provider whether or not you need dedicated data centers just for Germany, or the EU.