Data Protection Drives Cloud Security Market

The cloud security services market grew 14% in 2014 to $7.2 billion worldwide, up from $6.3 billion the previous year, according to a new report from Infonetics Research.
The report, Cloud and CPE Managed Security Services analyzes and forecasts the market for cloud- and customer premises equipment (CPE)-based security services offered by service providers to small, medium and large businesses.
Among other report highlights: Managed security service revenue totaled $15.8 billion worldwide in 2014, rising% from 2013; cloud-based offerings made up 46% of security service revenue in 2014, with CPE-based services contributing 54%; and by 2018, cloud security services will surpass CPE-based security services.
The largest contributor to cloud-based security service revenue is content security, the report says, followed by managed firewall services, other security services, distributed denial of service (DDoS) mitigation and intrusion detection/prevention systems.
"Our long-term outlook for the already very large cloud and CPE managed security services market, especially for cloud services, is quite strong as providers begin to leverage their software-defined networking (SDN) and network functions virtualization (NFV) rollouts to really scale the delivery of managed security services," Jeff Wilson, research director for cybersecurity technology at Infonetics, said in a statement.
"Providers are leaning heavily on SDN and the promise of NFV, and this will help them deliver a wide range of new security services that leverage virtual appliances for protecting applications, data and infrastructure in their own clouds, and delivering new services to customers," Wilson said.
Info-mangement: http://bit.ly/1Etaz0i