Cloud-Based Security Market Growing

“The specialized threat analysis and protection market is forecast by TechNavio to increase at a healthy 41.3% CAGR through 2018.”
“This growth will be fueled by demand for cloud-based security solutions because of budget constraints and lack of in-house expertise.”
“Firms are finding it hard to manage standalone or integrated network components with in-house resources.”
Summary article by Fred Donovan in FierceITSecurity, original announcement by TechNavio.
Emphasis in red added by me.
Brian Wood, VP Marketing
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Cloud-based security to spur growth in specialized threat analysis and protection market

The specialized threat analysis and protection market is forecast by TechNavio to increase at a healthy 41.3 percent compound annual growth rate through 2018.
This growth will be fueled by demand for cloud-based security solutions because of budget constraints and lack of in-house expertise. Firms are finding it hard to manage standalone or integrated network components with in-house resources.
“Hence, companies are increasingly opting for cloud-based specialized threat analysis and protection solutions, which are cost-effective, compliant with PCI DSS, and offer round-the-clock monitoring of the system,” explains TechNavio.
Leading vendors in the specialized threat analysis and protection market include Check Point Software Technologies, Cisco Systems, EMC, Fortinet, McAfee, Palo Alto Networks, Symantec and Trend Micro.
Another major market driver is the need to improve the quality of protection. “As the frequency of attacks is increasing, organizations are increasingly implementing specialized threat analysis and protection products that efficiently monitor and provide enhanced protection. Hence, more end-users are adopting specialized threat analysis and protection products,” relates TechNavio.
A major obstacle faced by specialized threat analysis and protection vendors is the high implementation cost. “Certain organizations refrain from investing in such solutions, owing to the high costs associated with them. In addition, there are certain hidden costs involved in the maintenance of such solutions. Factors like these discourage end-users from adopting these products, thereby affecting the growth of the Global Specialized Threat Analysis and Protection market,” the market research firm adds.
http://www.fierceitsecurity.com/story/cloud-based-security-spur-growth-specialized-threat-analysis-and-protection/2013-12-04
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TechNavio Announces the Publication of its Research Report -Global Specialized Threat Analysis and Protection Market 2014-2018

TechNavio recognizes the following companies as the key players in the Global Specialized Threat Analysis and Protection Market: Check Point Software Technologies Ltd., Cisco Systems Inc., EMC Corp., Fortinet Inc., McAfee Inc., Palo Alto Networks Inc., Symantec Corp., and Trend Micro Ltd.
Commenting on the report, an analyst from TechNavio’s team said: “One of the major trends witnessed in the market is the increasing demand for cloud-based security solutions. The demand for cloud-based security solutions is increasing in the Global Specialized Threat Analysis and Protection market, primarily because of the significant advantages attributed to such solutions. Moreover, companies are finding it difficult to manage standalone or integrated network components because of issues such as budget constraints, and lack of resources and expertise to address security issues. Hence, companies are increasingly opting for cloud-based specialized threat analysis and protection solutions, which are cost-effective, compliant with PCI DSS, and offer round-the-clock monitoring of the system. Therefore, the increasing demand for cloud-based solutions is expected to contribute to the growth of the Global Specialized Threat Analysis and Protection market during the forecast period.”
According to the report, one of the major drivers is the need to improve the quality of protection. As the frequency of attacks is increasing, organizations are increasingly implementing specialized threat analysis and protection products that efficiently monitor and provide enhanced protection. Hence, more end-users are adopting specialized threat analysis and protection products, a trend that is supporting the growth of the Global Specialized Threat Analysis and Protection market.
Further, the report states that one of the major challenges faced by the vendors in the market is the high cost of implementation. Certain organizations refrain from investing in such solutions, owing to the high costs associated with them. In addition, there are certain hidden costs involved in the maintenance of such solutions. Factors like these discourage end-users from adopting these products, thereby affecting the growth of the Global Specialized Threat Analysis and Protection market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://www.technavio.com/report/global-specialized-threat-analysis-and-p…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit http://www.technavio.com/it-hardware-software-services