Cloud Computing Growth Creating Growth Momentum in Ancillary Industries

Cloud security requirements are different from what traditional security models can provide

As the global cloud computing industry continues its double-digit growth march, other fields that are closely aligned with cloud computing, such as cloud security and cloud communications services, are surging as well.

Data from Synergy Research Group shows that the cloud business communications market grew by 23% during the first quarter of 2017 as companies around the world rapidly adopt UCaaS, or Unified Communications as a Service. Synergy says that the total cloud communications market now generates in excess of $2 billion a year.

RingCentral is the market leader based on quarterly revenues and has been consistently growing its market share, thanks to leadership of retail UCaaS and a strong position in wholesale UCaaS. It is followed by 8×8, Mitel and ShoreTel. – Synergy Research

Cloud security is the other area that is growing rapidly as more and more companies keep migrating to cloud. Whether they chose a public cloud or try to take a hybrid approach, the need for security is constant. The evolving nature of cloud technologies only makes the job of securing your data and applications even harder, pushing companies to prefer experts or third parties to provide security.

The cloud-based security services market is expected to grow faster than the total information security market, and is projected to reach $5.9 billion in size, a growth of 21% from 2016. The global public cloud industry is forecast to grow at 18% in 2017, and it is interesting to see the cloud security services segment grow a few percentage points faster than the public cloud industry itself.

“Email security, web security and identity and access management (IAM) remain organizations’ top-three cloud priorities,” said Ruggero Contu, research director at Gartner.

According to a global survey conducted by Gartner at the beginning of 2016, public cloud will be the prime delivery model for more than 60 percent of security applications by the end of 2017.

Gartner expects that market to nearly double its size over the next four years, and the growth of cyber security issues might even accelerate the adoption of cloud-based security services over that period.

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Sources: Gartner, Synergy