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Cloud Security: Market for Specialized Cloud Security Tools Grows Rapidly
The popularity of cloud computing drove $114 billion in revenues in 2016, and the cloud’s popularity is only increasing, and at a very rapid pace. Â But as applications and data migrate to the cloud, so too does the need to secure cloud data. Â In 2016, $1 billion was spent on cloud security, and a report by Forrester Research, forecasts that spending is increasing by 28 percent annually and will reach $3.5 billion by 2021.
About 45 percent of the spending on cloud security is for cloud security gateways. Â Other large areas of spending include security for Infrastructure as a Service (IaaS) and Platform as a Service (PaaS).
The tools needed for security in the cloud are different than for what is needed on-premise.  The Forrester report found that “traditional security tools can’t effectively monitor data moving to and from the cloud and between cloud platforms. This can lead to a failure to identify fraudulent use of data in the cloud, unauthorized downloads, and malware in the cloud.”
Ruggero Contu, research director at Gartner, said that “cloud-based delivery models will remain a popular choice for security practices, with deployment expanding further to controls, such as cloud-based sandboxing and WAFs (web application firewalls). The ability to leverage security controls that are delivered, updated and managed through the cloud – and therefore require less time-consuming and costly implementations and maintenance activities – is of significant value to enterprises.”
