Cloud-based security set to boom as new tech pushes spend

According to analyst firm, Gartner, cloud-based security services will hit US$5.9 billion in 2017, up 21 per cent from 2016 and will reach US$9 billion by the 2020.
Specifically, technologies such as security incident event and incident management (SIEM), identity access management (IAM) are the fastest growing in the segment.
“Email security, web security and identity and IAM remain organisations’ top-three cloud priorities,” Gartner research director Ruggero Contu said.
The firm added that emerging offerings are among the fastest-growing segments and include threat intelligence enablement, cloud-based malware sandboxes, cloud-based data encryption, endpoint protection management, threat intelligence and web application firewalls (WAFs).
Small and midsize businesses (SMBs) are driving growth as they are becoming increasingly aware of security threats, according to Gartner.

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