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Infonetics forecasts cloud security services to top $9 bn by 2017

Sharath Kumar

18 Oct 2013 05:15 IST

New Update

CAMPBELL, USA: Market research firm Infonetics Research released excerpts from its latest Cloud and CPE Managed Security Services report, which analyzes and forecasts the market for cloud- and customer premises equipment (CPE)-based security services delivered by service providers to small, medium, and large businesses.

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ANALYST NOTE
"The long-term outlook for managed security services, and especially cloud services, is quite strong, but there are some potential stumbling blocks," cautions Jeff Wilson, principal analyst for security at Infonetics Research. "Improvements in the efficacy and ease of management of security products could decrease the urgency to move to the cloud, and regulatory drivers are forcing some customers to keep all data on premise."

MANAGED SECURITY SERVICES MARKET HIGHLIGHTS
. Projected to grow 45pc over the next 5 years, the managed security market is being driven by factors including:
o An increase in the volume, variety, and complexity of threats of all types
o Security product sprawl
o A distributed workforce and the proliferation of BYOD erasing network perimeters
. As IT infrastructure continues its march into the cloud, security will follow: cloud-based security service revenue is forecast by Infonetics to grow at a 10.8pc compound annual growth rate (CAGR) from 2012 to 2017, to $9.2 billion
. Though prominent SaaS providers like Google and Microsoft are transforming the standalone security business and bundling security functionality with business apps (Google Docs/Drive and Office 365), they remain serious competition for traditional managed security vendors

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MANAGED SECURITY REPORT SYNOPSIS
Infonetics' biannual cloud and CPE security report provides market size, forecasts through 2017, trends, and analysis for cloud and CPE managed security services by organization size and technology: managed firewalls, content security, intrusion prevention and detection system, and other services. To buy the report, contact Infonetics: http://www.infonetics.com/contact.asp.

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