Cloud security to grow 83 percent by 2016, report says
As cloud services mature and evolve, the technology will become a more central aspect of the private sector, driving innovation and fueling competition within the business landscape. As more organizations adopt bring your own device and other mobile initiatives, however, the complexities associated with keeping sensitive information protected becomes even more challenging, requiring decision-makers to invest in more robust security solutions.
This finding was highlighted in a new study by Infonetics Research, which forecast the market for cloud-based security solutions to grow 83 percent from 2011 through 2016.
"As the variety of devices, platforms and apps grows and properly securing them becomes more complex, so grows demand for managed security services, even in the midst of some lingering economic malaise," said Jeff Wilson, principal analyst for security at Infonetics Research.
Drivers behind the growing security market
Cloud computing is gaining momentum in the business world, especially as companies look to implement technologies that could possibly reduce IT expenses in the long run. Infonetics Research said the volume of network attacks has increased in 2012 compared to 2011, with more threats expect to emerge in the coming years. This persistence of next-generation threats has fueled the need for advanced security tools.
Furthermore, small and medium-sized businesses, which often deploy the cloud more frequently in an attempt to gain a competitive advantage, are increasing cloud security investments in an effort to keep mission-critical resources safe. Research suggests that medium-sized organizations, in particular, will spend about the same amount on cloud-based security in 2016 as enterprises.
"Cloud-based security services in particular are gaining momentum, fueled by North America and greenfield opportunities in developing markets in Asia and Latin America," Wilson said. "We're forecasting global revenue from cloud-based security services to grow 83 percent from 2011 to 2016, an eyebrow-raising figure, especially in the enormous security market."
As the cloud becomes more commonly accepted in the private sector, cloud infrastructure security will eventually transform into one of the biggest drivers of the cloud rather than acting as the No. 1 inhibitor, Jonathan Penn, analyst for Forrester Research, wrote in a blog. This transition is estimated to happen sometime around 2015, when cloud services and managed security solutions have taken off and approach mainstream adoption.
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