Massive Business Cost Savings With Effective Cyber Security

The UK Cyber Security market is estimated to be worth over £8.3bn and and £6.3bn (76%) of this is controlled by only 10% of firms in the market. Businesses have historically opted for the safe option of the big cyber security suppliers, however with over 1,200 firms in the market and a new start-up entering the market every week, there is a trend of savvy businesses seeking better choice and value for money.

Analysis carried out by Cynapse indicates that, in some instances, companies can save up to 40% for similar products and services and this equates to a potential opportunity to save £1.3bn for UK businesses that shift a proportion of their work away from the established players to innovative firms.

Cynapse is a London-based cyber security startup that offers companies free access to cyber-experts to better understand what their requirements are. It therefore believes it has a key role in unlocking the market, enabling businesses to find better value for money for their cybersecurity services.

 In a new study, Cynapse has found that smaller companies offer similar products and services at lower costs, in some instances saving businesses up to 40%. If firms utilise smaller cyber security suppliers in this way, it could potentially save them up to £1.3bn, according to Cynapse.

Cynapse launched in March 2020 with the goal of providing a wider view of the cybersecurity market, tailored to individual customers’ needs. In its breakdown of the UK cyber security market, Cynapse showed that there are 122 large firms compared to 1099 medium, small and micro companies.

The 122 large companies generate an estimated annual revenue of £6.3bn compared to £2bn among the rest. There is a total of 42,855 people employed in the UK cyber security sector, of which 27,746 work for the larger companies.

GovUK:     We Are Cynapse:      Infosecurity Magazine:       Counter Terror Business:      Image: Maklay62

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