Gartner is predicting that by 2017, the Cloud-based security services market will have reached $US4.13 billion.
As more small to mid-sized businesses take on services such as secure email or web gateways, and identity and access management (IAM), Gartner is predicting significant growth in the sector.
Gartner’s Market Trends report suggested that this year, secure email gateway as a service alone will see $US800 million spent. By 2015, the figure could jump to $US942 million.
Seeing even bigger growth, however, is IAM, which stands to see $500 million spent this year before increasing to $860 million by 2015 and $1.24 billion in 2017. That’s a combined annual growth rate of 28.3%.
The report stated that within the IAM space, interest in cloud-based security has mostly been driven by SMBs. This is as many SMBs have needed to improve their basic IAM functions to serve employees accessing security as a service and internal Web-designed applications.
Gartner also predicted that identity as a service will see rapid growth in the coming years.