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Gartner: Cloud-Based Security to Grow 21% in 2017

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The global cloud-based security service market will continue seeing strong growth in 2017, Gartner reports-- the market reaches $5.9 billion this year, a 21% increase over 2016.

Cloud securityOverall cloud-based security growth is above the total information security market, and as such the analyst forecasts it will reach "close" to $9bn by 2020. Driving such growth are mainstream services addressing security information and event management (SIEM) and access management (IAM), while emerging offerings such as threat intelligence enablement, cloud-based malware sandboxes, cloud-based data encryption, endpoint protection management, threat intelligence and web application firewalls (WAFs) are among the fastest-growing.

Also driving growth are SMBs-- such companies are increasingly aware of security threats. They also see the cloud as a means to reduce costs, especially for powering and cooling hardware-based security equipment and datacentre floor space.

"The cloud medium is a natural fit for the needs of SMBs," the analyst remarks. "Its ease of deployment and management, pay-as-you-consume pricing and simplified features make this delivery model attractive for organisations that lack staffing resources."

That said, the enterprise segment also approves of cloud-based security, with deployments expanding to controls such as sandboxing and WAFs. The ability to leverage controls delivered, updated and managed through the cloud-- making for less time-consuming and costly implementations and maintenance-- is of "significant value" to enterprises.

"On the one hand, new greenfield demand arising from emerging requirements from SMBs is driving growth. On the other hand, new competitive dynamics and alternative pricing practices threaten traditional business models," Gartner concludes. "Overall, one of the main focus areas for providers relates to the shift from owning and selling a product, to selling and supporting ongoing service delivery."

Go Gartner Forecasts Worldwide Cloud-Based Security Services to Grow 21 Percent in 2017