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Cloud-Based Security: Growth of Cloud Security Surges
The cloud-based security market is expected to reach $4.13 billion by 2017, according to a report by Gartner. The cloud-based security market includes secure email or web gateways, identity and access management (IAM), remote vulnerability assessment, security information and event management.
In particular, Identity and Access Management is growing quickly. Currently that market is valued at about $500 million, but it is expected to grow to $860 million by 2015 and to reach $1.24 billion by 2017, an annual growth rate of 28 percent.
Kelly Kavanagh, principal research analyst at Gartner, said that “the benefits of deploying cloud-based security services are clear. Aside from the broad area of IAM, specific controls, such as encryption, are becoming vital to the adoption of cloud computing. They are further helping to generate interest in this particular form of security service delivery. The benefits cloud security offers — particularly encryption — are making it an increasingly popular choice. However, trust concerns and regional variations mean that providers will have to assess each market opportunity carefully before deciding which to focus on.”
But Jeff Wilson, principal security analyst at Infonetics Research, cautions that “the long-term outlook for managed security services, and especially cloud services, is quite strong, but there are some potential stumbling blocks. Improvements in the efficacy and ease of management of security products could decrease the urgency to move to the cloud, and regulatory drivers are forcing some customers to keep all data on premise.”
