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CAPITALIZING ON THREATS & OPPORTUNITIES – NOW IS THE TIME TO VENTURE INTO
CYBERSECURITY

--------------------------------------------------------------------------------

By NordLayer, 17 Aug 2023
6 min read



In our rapidly digitizing world, the role of cybersecurity cannot be overstated.
The increase in online platforms and the adoption of digital solutions by
businesses of all sizes have led to a surge in cyber threats. While the scope of
online risks is expanding, the need for cybersecurity grows exponentially.

A challenge for some is a golden opportunity for others. Thus, this growing need
for cybersecurity solutions presents a lucrative business prospect for Managed
Service Providers (MSPs) and resellers to partner with cybersecurity firms and
offer their clients robust protection.


CYBERSECURITY MARKET: THREATS AND OPPORTUNITIES

Despite the escalating cyber threats, virtual work setup offers immense
potential for businesses and enterprises. To better understand the risks and,
paradoxically, their advantages, let’s review the current cybersecurity setting.


LURING RISK OF CYBER ATTACKS

According to Statista, projected from 2023 to 2028, the total global cost of
cybercrime is anticipated to surge by 5.7 trillion U.S. dollars, showcasing a
notable rise of 69.94%. The latest estimates indicate that by 2028, global
expenses related to cybercrime will soar to 13.82 trillion U.S. dollars.

Year after year, data breaches and ransomware attacks have wreaked havoc on the
digital landscape. Recent cybersecurity threats research revealed that phishing
attacks and malware are top risks businesses of all sizes are exposed to the
most. Yet due to the dynamic cyber climate, leading threats constantly evolve,
shifting their positions.

For instance, small- and medium-sized businesses (SMBs) are the most vulnerable,
as companies with fewer than 1,000 employees bear the brunt of 46% of all cyber
breaches. These statistics emphasize that no business is too small to ignore the
importance of cybersecurity.

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Moreover, analysis shows that ransomware attacks will reach an astounding 620.5
million cases in 2023, eventually costing approximately $265 billion U.S.
dollars by 2031. Although it’s only a glimpse into the future digital ecosystem
perceptions, the need for fortified cybersecurity solutions is more pressing
than ever.


POSSIBILITIES DICTATED BY THE DIGITAL LANDSCAPE

The silver lining in this situation lies in a boom in the cybersecurity market.
This creates an opportune moment for MSPs and resellers to venture into
cybersecurity. The global cybersecurity market size is predicted to grow
exponentially in the coming years, and those prepared to seize the opportunity
now stand to gain immensely.

This opportunity emerges as a prediction for MSP industry revenue to reach
€21.18bn in 2023. The anticipated annual growth rate (CAGR 2023-2028) is 2.84%,
culminating in a market volume of €24.36bn by 2028.

According to cybersecurity investments research, 59% of companies plan to
purchase cybersecurity solutions, services, or applications. 52% of those who
plan to invest in cybersecurity solutions and services are small– and
medium–sized enterprises.

In addition, research gives an overview of major markets like the U.S., Canada,
and the United Kingdom, revealing that approximately 22% of enterprises
outsource their cybersecurity expertise. On average, almost 12% of companies
don’t have in-house or outsourced cybersecurity professionals.

Regarding company size, a majority (52%) of small businesses don’t have and
don’t outsource skilled cybersecurity staff, while 29% of medium-sized companies
tend to outsource these functions.


CHALLENGES FACED BY MOST MSPS & RESELLERS

Like every sector has its own challenges, managed service providers and
resellers encounter various obstacles in outsourcing business. According to
Statista, in 2022, the most prominent impediments were coping with advanced and
sophisticated security threats and acquiring more customers.

In 2022, 30–40% of respondents in EMEA (Europe and Middle East Africa),
Americas, and APAC (Asia-Pacific) regions saw gaining new customers as a
challenge. By 2023, 29% of service providers still cited the acquisition of new
clients as their biggest challenge, followed by revenue growth and
profitability.

Besides the struggle to find more clients, handling cybersecurity threats is an
issue for a significant number (approximately 20%) of MSP and reseller companies
in 2022. Service providers are directly exposed to digital threats like their
customers and any other modern company. 


NORDLAYER: YOUR TRUSTED CYBERSECURITY PARTNER

Navigating the cybersecurity landscape might seem daunting for many MSPs and
resellers. That’s where NordLayer comes into play.

NordLayer offers a comprehensive partner program to help you tap into this
booming cybersecurity market, enhancing your business performance and increasing
your profits.


BOOST YOUR BUSINESS PERFORMANCE 

With NordLayer, your business can gain a competitive edge through an accessible
software-defined solution. Our remote security solution ensures your clients
stay safe online, allowing you to stay ahead of the game.


GROW YOUR PROFITS 

NordLayer’s easy-to-adapt software eliminates the need for expensive hardware,
saving your clients significant costs. By opting for a subscription-based SaaS
model, you can enjoy a steady stream of recurring revenue, greatly amplifying
your financial gains.


NO TECH EXPERTISE IS NEEDED

NordLayer simplifies the process of selling cybersecurity solutions. This means
you don't need a deep understanding of tech and network knowledge or invest in
human resources education or competencies to start selling.


24/7 SUPPORT

We believe that partnership goes beyond selling solutions. With NordLayer, you
gain access to a committed, caring, and proficient technical support team
available round the clock, helping you identify and close deals and propelling
you toward success.


EFFICIENCY IS OUR PRIORITY

At NordLayer, we prioritize efficiency. With our solutions, you can onboard
clients in under 10 minutes and scale rapidly. No minimum order requirement
makes NordLayer ideal for SMBs. Network deployment and administration are
simplified, without the need for complex hardware or tedious configurations,
saving time and resources while boosting productivity.


AFTERWORD 

The time is ripe for MSPs and resellers to seize the opportunities in the
cybersecurity market. With NordLayer as your partner, you will be well-equipped
to navigate this booming sector and take your business to new heights. The cyber
threats are real, but so are the opportunities. Now is the perfect time to start
selling cybersecurity solutions.

Future partner, become an enabler securing all ways of working by joining forces
with NordLayer.

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Contents

Cybersecurity market: threats and opportunitiesChallenges faced by most MSPs &
resellersNordLayer: your trusted cybersecurity partnerAfterword 


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NordLayer

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GatewaysNordlynxNetwork SegmentationSmart Remote AccessCustom DNS

Partnerships

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--------------------------------------------------------------------------------

For media inquiries, please contact - press@nordlayer.com

Have a question? Ask our experts at - support@nordlayer.com



--------------------------------------------------------------------------------

© 2023 Nord Security. All Rights Reserved

NordLayer

PricingDownloadsFeaturesLog inCareersPrivacy policyTerms of servicesData
processing agreementPress AreaRelease NotesStatus
Resources

Decision Maker’s KitCybersecurity Learning CenterBlogGlobal Remote Work
IndexHelp Center
Downloads

iOSAndroidmacOSWindowsLinux
Solutions

SASEZero TrustHybrid Work SecurityRegulatory ComplianceNetwork SecurityNetwork
Access ControlRemote Access VPNBusiness VPNCloud VPNIdentity and Access
ManagementThreat PreventionSecure Remote AccessSSESaaS SecuritySecure Web
Gateway
Features

Site-to-Site VPNDedicated IPDNS FilteringVirtual Private GatewaysShared
GatewaysNordlynxNetwork SegmentationSmart Remote AccessCustom DNS
Partnerships

AffiliatesBecome a partner
Nord Family of Products

Nord SecurityNordVPNNordLockerNordPass

--------------------------------------------------------------------------------

For media inquiries, please contact - press@nordlayer.com

Have a question? Ask our experts at - support@nordlayer.com



--------------------------------------------------------------------------------

© 2023 Nord Security. All Rights Reserved

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