Growth cloud-based security services will remain strong, with the market reaching $5.9bn in 2017, up 21 per cent from 2016, analyst house Gartner predicts.
Growth in the cloud-based security services market will outpace the overall information security market. Email security, web security and identity and access management (IAM) will be priorities for firm looking to implement cloud-based security services, according to Gartner.
"Security information and event management (SIEM) and IAM, and emerging services offer the most significant growth potential," said Ruggero Contu, research director at Gartner. "Emerging offerings are among the fastest-growing segments and include threat intelligence enablement, cloud-based malware sandboxes, cloud-based data encryption, endpoint protection management, threat intelligence and web application firewalls (WAFs)," he added.
IAM, IDaaS, user authentication will pick up the biggest slice of the growing pie, with sales this year estimated to grow to $2.1bn compared to $1.65bn last year. Secure web and email gateways are also big business, bringing in $707m and $703m respectively this year, Gartner predicts.
Small and midsize businesses (SMBs) are driving growth as they are becoming increasingly aware of security threats. They are also seeing that cloud deployments provide opportunities to reduce costs. Bigger businesses are not out of the picture, gaining operational advantages by deploying security through cloud based technologies. ®