Tapping in to the $1.5 Billion Cloud Security Market!

Informationweek  last week reported that Cloud security will grow to become a $1.5 billion market by 2015 and that  cloud security will also account for nearly 5% of IT security technology spending. These predictions come from a new Forrester report, “Security and the Cloud, It says if $1.5 billion seems like an enormous sum, that’s because it accounts for much more than just the software-as-a-service (SaaS) security market.

Jonathan Penn ,Forrester’s Analyst suggests not to look at cloud security just for cloud security’s sake, but rather its function vis-a-vis corporate IT. This means a lot in terms of how one secures these systems, applications, and data on the cloud and that in this emerging trend, many more businesses are now demanding that security be built-in to cloud services.(Interestingly, according to a 2009 Forrester survey of North American and European businesses, 50% said their chief reason for avoiding cloud computing was security concerns. Within five years, however, Forrester expects cloud security to be one of the primary drivers for adopting cloud computing.)

Further based on  what this article carries , this poses significant opportunities for both Security Product vendors/ISVs and Services vendors. Traditional security models may have to change and vendors have to embrace this change and innovate.

For instance , I had posted about CloudFlare, a new and innovative security service that can be applied to certain types of Cloud based services and I had also posted some information about possibly assessing larger security risks at the application and/or data level which may involve  significant security assessment services using specialised tools (e.g. Veracode)

Essentially the key take of  Forrester report is all about “how one secures these systems, applications, and data on the cloud” , In my view-point it basically points to creating specific security solutions catering to various cloud deployment needs and  scenarios of different organisations.

There seems to be a huge potential to tap in to this opportunity both by Innovative security product vendors (ISVs) and Equally by IT( Security) service providers. In fact, IT service providers stand to benefit a lot if they can create and offer different “Solutions” that can address Cloud security concerns effectively across the System,Application and data layers.

The name of the game to tap in to this $1.5 billion market therefore could well be in providing Comprehensive and Effective Cloud Security Solutions!

For instance, A Solution offering could involve one or more of the following

  • Assessment of  the Security Vulnerablities at the System/Network and Application Level through sophisticated testing and analysis
  • Providing remediation for the security gaps assessed through appropriate IT techniques and tools (e.g. Security Architectures,System or Network hardening, Code optimization for security, VPN security pipes etc)
  • Providing realtime security monitoring ,reporting and support services (e.g. IDS or DDos monitoring , Spam monitoring etc)
  • Integrating one or more of the above

To summarize, Cloud Security market seems to be huge and $1.5 billion might even be an underestimated number in my own opinion in the next five years. Delivering Security solutions for the Cloud deployments will be very niche .Especially,It is a great opportunity for those in the IT services market if they realize this opportunity and quickly build capabilities and services to capitalize on this upcoming trend. ISVs (like CloudFlare or CloudSwitch)  who provide niche security tools and services also stand to gain significantly…


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