Disruptive Technologies has been the buzzword in the market, especially in the Information Technology sector. These new age technologies are affecting so intensely that leading companies are falling in line to adopt them and are forced to abandon those they earlier relied heavily on. Among them is the cloud computing technology which many see as a game changer in the IT services industry. With growth in SaaS, PaaS, and IaaS , the businesses are transforming themselves to become cloud centric and moving most of their operations and data to the cloud.
As the cloud brings lot of cost advantage to businesses, it has also given rise to security breaches and increased attacks on cloud infrastructure and cloud based applications. To contain these security challenges, companies are adopting cloud security solutions and the cloud security market is fast growing.
The main reasons for the growth of these solutions have been attributed to 1. Increase in the incidents related to security breaches and threats to cloud where miscreants carry out targeted attacks for financial or intellectual gains 2. Need for increased protection as the attacks are growing more advanced and cloud alone has been incapable of warding off these attacks.
3. Improved awareness and trust among businesses about the cloud and as a result more and more businesses moving their resources to cloud thereby creating a need for cloud security.
Information or Data explosion is prompting businesses to adopt cloud and companies are becoming extra cautious about their data and this is driving the adoption of cloud security solutions. Companies are finding cloud security solutions as a suitable addition to cloud as this give them more confidence about cloud and its credibility. Market for cloud security services has been analyzed in terms of geography, type of service providers and kind of service provided, end-users, major verticals using these services and the type of cloud environment preferred.
Geographically, cloud security is seen to be more mature and yet growing in the North American and European markets. Enterprises are the top contributors to the revenue and in terms of type of security services, cloud IAM, email and web security and encryption are expected to grow as both enterprise level companies and the small and medium businesses will see more adoption of these solutions. The service provider market is a mixture of pure security providers, IT and telecommunication providers as well as the cloud service providers. Going forward, as the confidence in public cloud grows among organizations, cloud security solutions protecting public clouds will gain more demand than the private cloud security. Among the verticals, IT, Banking and Finance and E-commerce will see increased adoption.
Of late, this industry is witnessing a lot of partnerships where cloud providers are joining hands with cloud security providers to offer a cloud with integrated security. Also in the future, one can expect various mergers and acquisitions in this industry which would boost the market of cloud security.
The biggest challenge that lies ahead for service providers in this industry has been educating and convincing the customers that cloud in itself is not safe and would require additional cloud security to secure the data present on the cloud. Along with this, improper rules and regulations,increased employee mobility and enhanced attacks will be the reasons affecting this industry.