Gartner expects worldwide cloud-based security services to keep growing. They expect the market to hit US$5.9B this year, up 21% from 2016. Cloud-based security services market are, unsurprisingly, out-pacing traditional security products.
Gartner estimates the cloud-based security services market will reach close to US$9 billion by 2020 with SIEM, IAM and emerging technologies the fastest growing cloud-based security services segments.
Emerging technologies include threat intelligence enablement, cloud-based malware sandboxes, cloud-based data encryption, endpoint protection management, threat intelligence and web application firewalls.
Much of that market growth is coming from SMBs who are becoming more aware of the risks and threats they face - something the Australian federal government is aware of. This was flagged as an area that needs more work in a recent review of progress against the Australian Cyber Security Policy.
"Email security, web security and identity and access management remain organisations' top-three cloud priorities," said Ruggero Contu, research director at Gartner.
Having attended a lot of security events over the last few years, the only thing I find surprising is that the forecast growth is less aggressive than I expected. AI is starting to take a major foothold in threat identification, analysis and for orchestrating automated responses to inbound attacks. That needs a lot of computing power and the cloud is the perfect vehicle for doing that.