30.06.2017

Exponential rise in cloud security spending over next 5 years.

The amount spent on cloud security is set to grow by almost a third every year over the next 5 years.  According to a report by Forrester Research, spending is likely to reach almost £3bn

 

The biggest spend, equating to almost 50% of the entire budget is allocated to cloud security gateways.  A third of the spend is likely to be on IaaS (infrastructure as a service) and PaaS (platform as a service). 

 

Of all the sectors, it is unsurprisingly the financial services industry who spend the most money on cloud services.  This trend is likely to continue.

However this is still interesting in and amongst itself.  Just 5 years ago, the very notion that cloud-based services would be part of everyday financial operations would have been contentious and revolutionary.  But the swift development of cloud based services, and their cost effectiveness, means that it has been fully embraced.

 

It is certainly true that spending on cloud security solutions is comparatively minor when put alongside the amount of money spent on security software.  But the precipitous growth of cloud is drawing the interest of the more traditional security tech vendors, who are looking to access the market quickly through mergers and acquisitions.

 

These figures suggest that we are entering a new phase.  Traditional security is not able to manage the tasks set for it in the way that it used to and their protection capabilities for the cloud are not always reliable.  The advantages of off the shelf solutions means that the financial and technological benefits point to a growing spend on cloud security.

 

Posted by: CloudScope Recruitment