SaaS Security Market Grows to $2.1 Billion

Posted by skyhighnetworks on June 24th, 2014

According to a recent report from Gartner, the market for cloud-based security will spike up to 2.1 billion in total value worldwide this year, and estimated to hit 3.1 billion in 2015.Between the cloud security services that are most prevalent in market, Gartner has identified that email security, web security services, identity, and access management to be the major growth areas. Furthermore, it’s estimated that the largest growth area would be based on encryption and security token, security information and event management tools, systems vulnerability calculations, and firewalls for web apps.

According to a Oaktree analyst, Rohan Bhusri “while security information and event management and identity and access management services are likely to experience the most growth, encryption is seen as the most likely to become an industry standard and a benchmark of enterprise security in the coming years.” Furthermore, suppliers will have to carefully consider every opportunity to market before deciding on one to target.

The overall migration to software as a service based apps, and other cloud based apps and service provides a push to enterprises to adopt cloud based security management. These tools can be applied as a sole function, or within the SaaS security integrated package. Managed security services also boost the adoption of cloud-based security services to organizations. Managed security services delivery models, are then affected by the demand for cloud services security, enabling security providers become the default managed security systems players in industry.

Gartner expects that the adoption of security-as-a-cloud-based services, and the extent of its use will continue to grow as the organization gain more experience with SaaS security and technology, initially focused on the consumer market that is gradually penetrating the corporate environment as a result of BYOD trends. In addition, Gartner predicts that the adoption of security as cloud-based services, and the degree of its utilization will continue to increase as enterprises become more experienced with software as a service technology.

According to Oaktree analyst, Rohan Bhusri, one particular area of significant noticeable interest in SaaS security, is the utilization of encryption with intermediaries of cloud security. This is important because of their ease of deployment & management of encryption capabilities built in customer facing features. Gartner Inc., also expects cloud hosting providers and suppliers of IaaS show a greater interest in the potential of cloud encryption.

It’s important to note that Gartner additionally warns that, when considering the disparate levels of maturity, traditional agreement and a native variation of the information technology infrastructure, there are noteworthy contrasts by region, in metrics such as, rates of adoption of cloud-based protection systems. The development of a particular community, regional regulatory policy, and also traditional aspects – are all highly involved in the magnitude of spending allocated to this transport ideal as contrasted alongside the regionally embedded solutions. Privacy subjects are a important factor that deter the implementation of cloud-based services of all formats. This hindrance proves to be particularly evident in regions with stiff regulatory requirements, such as Europe, especially with its data protection laws and policies.

Author :
Skyhigh Networks, the Cloud Security Services company, enables companies to embrace Cloud Security Services with appropriate levels of security, compliance, and governance while lowering overall risk and cost. With customers in financial services, healthcare, high technology, media, manufacturing, and legal verticals, the company was a finalist for the RSA Conference 2013 Most Innovative Company award and was recently named a "Cool Vendor" by Gartner, Inc. Headquartered in Cupertino, Calif., Skyhigh Networks is led by an experienced team and is venture-backed by Greylock Partners and Sequoia Capital. For more information, visit us at http://www.skyhighnetworks.com/saas-security/ or follow us on Twitter@skyhighnetworks.