IoT research firm announces new reports examining technology needs of SMB markets

Parks Associates announced new primary and industry research today examining the technology needs of SMBs (small-to-medium businesses) in the U.S. market. The international research firm finds that 91% of U.S. SMBs use antivirus/malware protection software and 77% use cloud storage/backup services, although 80% of SMBs have concerns about using cloud-based services.

“Certain benefits of cloud-based services, such as the ability to access services from multiple devices, are driving small business interest in these services,” said Patrice Samuels, Senior Analyst, Parks Associates. “However, adoption has been lower than expected, due in part to SMB concerns with the security of the cloud solution. Providers must assure SMBs regarding the security of their solution and educate them on the benefits of having offsite backups, which help combat significant risks such as ransomware and hardware failure.”

Connected Technology for SMBs: IT Services, Security & IoT shows that of the 80% of SMBs with concerns about using cloud-based services, nearly 40% cited security risks as a top concern. The loss of control over the solution was a distant second, cited by one-quarter of SMBs. This report examines the demand for IT services, premises and data security, and IoT systems among SMBs. The research measures the awareness, interest, perception, and adoption of connected technologies, cloud-based solutions, and IT/managed services among SMB decision makers, to reveal opportunities for service providers, manufacturers, and IoT solution providers.

Another Parks Associates report, Service and Technology Needs of SMBs, also examines the SMB market, revealing approximately 60% of small businesses acquire onsite support services from local IT service companies and independent contractors. The research shows more than one-half acquire remote IT support from similar providers.

“Small business IT budgets vary significantly,” Samuels said. “Those with fewer than 10 employees budget less than $2,500 per year, while those with 10-19 employees spend more than twice that amount. Service packages that allow businesses to select from different service tiers and payment models will gain the broadest appeal in the small business market.”

Service and Technology Needs of SMBs examines use of technical products and services among U.S. small and medium businesses within a variety of industries. It studies the primary technical challenges facing SMBs, examines the market for various technical services among this group, and includes a five-year forecast for various IT and support services in the SMB market.

For more information about Parks Associates research, contact sales@parksassociates.com. To schedule an interview with an analyst or to request specific research data, please contact Holly Sprague at hsprague@gmail.com.

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