Cloud security spending to hit $3.5bn by 2021, says Forrester
Cloud security spending is set to hit $3.5 billion (£2.74bn) by 2021 at a 28% annual growth rate, according to a new report from Forrester Research.
The report, authored by analysts Jennifer Adams and Andras Cser, discusses a variety of trends, from cloud security risk, to traditional security tools.
According to the figures, cloud security gateways will continue to be the primary route of global spending, contributing to $1.6bn – or 45% – of the overall figure by 2021. Native infrastructure as a service (IaaS) and platform as a service (PaaS) will come in to the tune of $1.1bn, while hypervisor security and centralised cloud workload security management are at $0.5bn and $0.3bn respectively.
Monetary administrations speak to the bigger market for cloud benefits today and will keep on doing so until no less than 2021, the report includes. This denotes an intriguing point – the report appropriately brings up that cloud-based administrations in budgetary would be “questionable” and “radical” only a couple of years back – yet the business is grasping it today to decrease expenses and remain aggressive. The report likewise reserved retail, government, and expert administrations –, for example, specialists, law offices, and promoting offices – as enterprises to pay special mind to.
Writing in a blog entry, Adams noticed the upward patterns, albeit cautioning about the early stages of the market. “While spending on cloud security arrangements is generally little today contrasted and add up to spending on security programming, its fast development is pulling in the consideration of more conventional security tech merchants,” Adams composed. “Bigger tech sellers are rapidly entering and combining the space through acquisitions.”