Majority of Managed Security Tools Will Be Cloud-Based By 2020

Tuesday February 28 2017

Research firm IHS has predicted that the majority of managed security tools will be based in the cloud by 2020, in another example of the security world migrating towards cloud-based options.

Security still remains an issue for cloud users – many firms still hold their own reservations about how secure remote cloud servers and storage can really be. But HIS have affirmed that most managed security services will be delivered via the cloud in just four years.

The firm has released information showing that on-premises based managed security products were still reigning – but their grip on the market is waning. 46% of security services delivered by third-party vendors are now cloud-based, and this market share is set to grow enormously over the next four years.

Why use cloud-based tools?

IHS claim that the growth of virtual networking technologies have allowed many security vendors to pledge greater security in their managed services. These exciting new developments in the realm will help security providers off scalable, flexible and profitable solutions which still offer optimum security.

An improvement on past predictions

The information released from HIS follows a series of predictions made about the managed security market back in 2013. Gartner Inc predicted that the cloud-based security market would be worth $2.1bn by 2013, rising to $3.1bn by 2015.

New reports have taken these predictions even further. MarketsandMarkets released a report named ‘Cloud Security Market – Global Advancements, Forecasts and Analysis’ (2014-2019) which showed that the market would be worth $8.71bn by 2019, and Transparency Market Research said the industry would be worth $11.8bn by 2022.

The pros of cloud-based security

Despite the fact that there are still security concerns about the cloud, there are still important benefits and advantages that businesses are taking note of. The ease of deployment and management is a real draw for businesses that need an efficient option. There’s no need for on-site equipment or maintenance, which is a real weight off many business’ minds. The equipment used doesn’t require any particular expertise, either – updating features like software and firewalls is straightforward and can be carried out by regular staff members, rather than experts. This all contributes towards lower operating costs for the firm, which still benefits from enterprise-class security.