The cloud-based security services market will be worth $2.1 billion in 2013, rising to $3.1 billion in 2015, according to Gartner, Inc. Gartner said that growth in cloud-based security will remain strong, but revenue opportunities will vary.
Gartner expects acceptance of, and reliance on, cloud-based security-as-a-service offerings to increase, based on organizations gaining more experience with SaaS and more consumer-grade technology being made available to corporate systems as a result of trends, such as bring your own device (BYOD).
“The cloud-based security market remains a viable one, offering managed hosting providers many opportunities for expansion,” said Ruggero Contu, research director at Gartner. “Encryption will be a new area of growth, but it remains a complex activity. The strongest interest will be in encryption products from cloud security brokers, which are relatively easy to deploy and have options for on-premises encryption management.”
Gartner predicts that the top three most sought-after cloud hosting services moving forward will remain email security, web hosting security services and identity and access management (IAM). However, in 2013 and 2014, the highest growth is forecast to occur in cloud-based tokenisation and encryption, security information and event management (SIEM), vulnerability assessment and web application firewalls.
Overall adoption of Software-as-a-Service (SaaS) applications and other cloud-based hosting services encourages organizations to adopt cloud-based security controls. These are delivered either as stand-alone features or as part of an integrated SaaS package. Managed security services (MSS) are also driving adoption of cloud-based security services among enterprises.
Additional information is available in the report “Market Trends: Cloud-Based Security Services Market, Worldwide, 2014.” The report can be found on Gartner’s website.