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Cloud-based security services:Growing market due to the increasing adoption of cloud computing.
Presently, the demand for cloud-based security services is rapidly increasing because of the increasing deployment of cloud computing among organizations. It has experienced an exponential growth over the past few years, and new trends of security as a service and software as a service have been seen in the cloud.The benefitof the cloud based security services includes easy implementation and cost effectiveness. It enables the organization to become more flexible, agile, scalable and reliable.It also helps the companies inenhancing itsperformance, and generates better Return on Investment (ROI). Moreover, security vendors are focusing on new growth areas such as cloud based tokenization, encryption, security information and event management and vulnerability assessment. Security vendors are also taking efforts to make clouda more secure place, so that the customers can rely on these services. Thus, these factors have made organizations more focused and interested towards adopting cloud computing.
As more and more processes shifts to the cloud, it becomes complex to handle various processes such as intrusion detection and prevention, endpoint security, and identity management. To solve all these issues, companies now prefer cloud-based security services. Both enterprises and Small and Medium size Business (SMBs) are rapidly adopting these services. The prime reason for this acceptance is the lower administration overhead and improved data security services. As the companies are growing the number of employees, data, investment and their global presence is also expanding, which has accelerated the security threats. To secure these private networks companies require advanced managed security services and IAM/IDaaS services, and need to fulfill the advanced regulatory compliances. Cloud-based security services not only manage the identity and access issues but also help the companies meet the regulatory compliances.
All these factors are driving the cloud-based security services market.The total cloud security market is expected to grow from $4.2 billion in 2014 to $8.71 billion in 2019,at an estimated Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period 2014-2019.It is anticipated that the IAM/IDaaS will be the largest market segment followed by the email security and web security (WAF) services.
Cloud Security Market (Cloud IAM/IDAAS, DLP, Web Security, Email Security, Cloud IDS/IPS, SIEM, Encryption Services, BCDR, Network Security, Cloud Database Security, Virtualization Security) - Global Advancements, Forecasts & Analysis (2014-2019)
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