Security-as-a-service soars, says Canalys

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Security-as-a-service soars, says Canalys

Security solutions for public cloud or delivered as-a-service grew 46 per cent year on year, says channel-centric analyst firm Canalys.

The firm has issued new research asserting that such products now account for 17.6 percent of total cybersecurity market value, up from 13.8 percent a year ago.

Virtual security appliances and agent solutions also grew strongly, up 18.2 percent.

Don’t bet your business on this stuff just yet because Canalys also noted that traditional security hardware and software tools still have 75 percent of the market and are growing at “just over eight percent.”

But the firm has called a break with old models, writing that the far faster growth in cloudy products “highlights the ongoing transition in cybersecurity solutions as organisations look to protect more data assets and workloads based in the public cloud.”

Cloudy products also get customers on the subscription treadmill and into new modes of operation they’ll appreciate.

“Vendors have introduced new ways of doing business with channels and enterprise customers in terms of purchasing, consumption and servicing, as well as helping simplify operations in increasingly complex IT environments,” wrote principal analyst Matthew Ball.

And that’s helpful, said research analyst Claudio Stahnke, because “The challenge for organizations in both the public and private sectors is to maintain pace with the evolving and diverse range of threats.”

“Many will think they are too small or not high-profile enough to be targets, but hackers will seek to exploit any vulnerabilities,” Stahnke added. “This is creating opportunities for channel partners to expand their capabilities to provide more holistic cybersecurity offerings to assess, recommend, deploy, integrate and manage multi-vendor solutions and services incorporating multiple deployment models.”

Canalys identified Cisco, Palo Alto Networks, Symantec, Check Point and Fortinet as the top five security vendors, saying they share 34 percent of the market.

Palo Alto Networks and Fortinet are growing faster than the others, the analysts said.

In the endpoint market, the firm said Crowdstrike, Carbon Black and Cylance are growing fast but are yet to top leaders McAfee, Symantec and Trend Micro. But the firm singled out Trend Micro “for simplifying its licensing to enable customers to buy across different types.”

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