Startups Driving Security Market for Public Cloud Services
London, United Kingdom - 10 Mar 2014
The public cloud services market is slowly maturing, giving rise to a varied ecosystem of composite and value-added services. Security is starting to figure more prominently among these services as organizations realize they need better control over cloud-based processes. While compliance concerns still remain high, cloud service providers have worked hard to address the issue, but at premium-level costs. SMBs have struggled to find the right balance between public cloud offerings and security. This gap is quickly being filled by innovative startups, eager to fill the demand for cost-effective and specialized security services for organizations subscribed to public cloud services.
The most dynamic market responses are around cloud API management, identity and access management (IAM), host and network security, and encryption and key management. Of the four markets, IAM is driving the trend, with federated SSO highly popular for managing complex and various cloud service subscriptions. ABI Research expects the IAM market for public CSPs to hit over $2 billion in revenue by 2019.
"Despite the flurry of activity in plugging the public cloud security gap, the current offerings are still largely playing in a nascent market. There is great scope for continued innovation and growth in this sector, particularly around IaaS and PaaS offerings such as those from Amazon, Microsoft, and Google," says Michela Menting, senior cybersecurity analyst.
ABI Research's report on "Securing the Cloud for Enterprise" looks at the security challenges faced by organizations and the rising tide of dynamic startups eager to provide agile and in-depth security solutions for enterprise including Adallom, Alert Logic, FireBlade, FortyCloud, HyTrust, Imperva, JumpCloud, and Porticor.
These findings are part of ABI Research's Cybersecurity Technologies, Cloud Content and Services, and Enterprise Mobility Applications, Services, and Devices Research Services.
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research's worldwide team of experts advises thousands of decision makers through 70+ research and advisory services. Est. 1990. For more information visit www.abiresearch.com, or call +1.516.624.2500.