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Dynamic nature of cyber threats warrants increased spending on innovative technologies, growing use of Cloud Storage systems and heightening reliance on IT increasing vulnerability to cyber-attacks are the major demand drivers of cloud security.The global cloud based security market has almost doubled from 2013, from USD 2.13 billion to touch 4.1 billion in 2017. The Global industry analysts Inc report- CLOUD-BASED SECURITY SERVICES – A GLOBAL STRATEGIC BUSINESS REPORT, the global market for Cloud Based Security Services is projected to reach USD 5.6 billion by 2020. The drivers for this will be costs, efficiencies and the dire need for scalability. There is, not surprisingly, a huge demand for cloud based security services on SaaS, PaaS, and IaaS. In addition, as the cloud takes over physical IT infrastructure, security will also need to confirm to cloud efficiencies.
Aravindan Anandan, Consulting Systems Engineer, Asia Pacific, Barracuda Networks says, “The adoption of Cloud based infrastructure is being seen in each of the data, application and network security domains. While the advantages are too many to give Cloud technologies a pass, the security of these platforms may not be up to the acceptable levels of government and big enterprises.”
According a report by Mordor Intelligence, the Global Cloud Security Software market stood at $2.15 billion in 2014 and is expected to reach $16.11 billion by 2020. The main driving factors will be of course everybody’s insecurity about parking enterprise data in the cloud, lack of awareness of protocols and even the fact that virtualization of data and use of OS applications for enterprise is not a fully trusted activity, even today. Cloud software vendors have it really cut out, since it’s a burgeoning market- and most security organisations offer security solutions that are as easy connected on the cloud as they are on ground. Says Anandan of Barracuda,” Barracuda Networks offers solutions across Network Security, Content Security, Application Security/ Delivery and Data Protection. These solutions are also cloud connected and are designed to be easy to manage and administer.”
In addition, the bigger vendors are also going all out to service this market- CA Technologies, McAfee, IBM and Cipher Cloud are the market leaders n the space. Dell SecureWorks also recently announced the availability of its new on-demand Emergency Cyber Incident Response (ECIR) capability for clients deploying assets on Amazon Web Services (AWS) cloud. This is a direct response to the growing enterprise adoption of the cloud and the rising need for on-demand incident response solutions optimized for the cloud environment.
