3 Signs The Cloud Security Market Is Growing

The services that security companies offer depend on how people and businesses choose to use the latest technology. Recently, it has become obvious that cloud security will play an increasingly important role in the future of protecting individuals and businesses. If you aren’t certain that the cloud security market is growing, these three signs will change your mind.

Gartner Projects Double-Digit Growth in the Cloud Security Market

Gartner, Inc., has been researching information technology markets since 1979. Over the last few decades, it has earned a stellar reputation for forecasting trends. It has only been wrong a few times, which makes it one of the most successful forecasters in the United States.

Since Gartner has such a solid reputation, it makes sense to pay attention to its research. According to the company, the public cloud services market grew by about 17 percent in 2016. In 2015, the industry had a value of about $178 billion. By the end of 2016, the value was closer to $208 billion.

It’s too early to know precisely how much the cloud security market grew in 2016, but Gartner’s forecast shows that experts believe the overall public cloud market experienced robust growth.

More People and Companies Than Ever Rely on Cloud Technology

Cloud technology adoption has been picking up speed over the last several years. One survey from 2015 shows that 88 percent of businesses use public cloud technology. About 63 percent of businesses use private cloud technology.

As more people and companies start using the cloud, the security industry will have to follow their lead. It’s a great opportunity for security companies to earn money. Plus, keeping up with cloud security threats identifies companies as experts in the most important fields of technology.

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Security Risks Encourage More Growth Within the Industry

Cloud technology offers numerous advantages, but security remains a problem for many companies that don’t know the best ways to protect private information. A hacker who manages to break into your cloud account may gain access to your client payment details, research, account numbers, and software.

Since your business faces such high risks, you need a security option that can protect you from a wide range of threats. Many companies use cloud access security brokers (CASB) to make sure unauthorized people don’t have access to their cloud accounts. CASB works well because it identifies threats by:

  • Evaluating behaviors for signs of inappropriate activities
  • Identifying Shadow IT that can make your cloud services vulnerable to outside attacks
  • Restricting users who don’t have registered devices
  • Encrypting data so hackers can’t read it without the right token

You have a lot of options when choosing cloud security techniques. Not all your options, however, will prevent the latest cloud security threats. Overall, the cloud is more secure than many people believe, but you have to make sure that you protect yourself and your organization. As the cloud continues to evolve, security companies will try to keep up with the changes. It’s up to you to choose an option that satisfies your concerns.