After working in this industry for over a decade, you very quickly get used to “the next big thing”. Sometimes it is no more than a storm in a teacup which peaks the attention of marketers but nobody else; other times it goes on to define the next few years (sometimes longer) of IT strategy and discussion.
SECaaS seems to be in the latter category - and there are two reasons why I think that is the case.
1. SECaaS is Growing by 16.9% Yearly
Firstly, Gartner analysts have commented on a number of occasions to industry media that “IT security on company networks are 100% worse than they were 10 years ago”, simply because threats have outpaced the capabilities of IT teams in terms of sophistication.
Secondly, cloud computing is booming, with some surveys revealing that some companies are dedicating up to 80% of IT budgets to cloud services, hosting and infrastructure.
Put these two factors together and it is clear to see that cybersecurity threats and their risks will follow into the theatre of the cloud. This is further proven by market data which shows that the SECaaS market is predicted grow from an already impressive total global market size of $7.6bn USD in 2018, to $16.5bn USD in 2023 – a compound annual growth rate of 16.9%.
[You may also be interested to read "The Top 5 Cloud Security Challenges Haunting Every IT Manager"]
2. The Benefits of SECaaS to IT Teams
Aside from the one-to-one benefits of applying security solutions to the cloud, simply because you use more cloud services, there are numerous benefits to SECaaS solutions which are fueling their momentum.
- SECaaS solutions are usually subscription based with smaller monthly or quarterly billing periods. A model which is much more budget-friendly for smaller businesses.
- Some management of the solution can be held by the MSP, vendor or cloud provider, freeing up resources.
- SECaaS solutions are implemented and maintained by solution experts, which means there is the benefit of using best practices, high-availability and better up-time.
While the benefits are numerous, one must always keep in mind that there are widely discussed concerns with rapid cloud adoption, especially with regard to security. In previous VSEC conferences, debate topics on the subject of responsibility versus accountability have been some of the most well attended.
Companies are happy to delegate their security to MSPs, vendors and cloud-providers, but who is accountable when there is a breach, and how is that further complicated by regulatory compliance?
VSEC Conference 2019: Building Leaders in the Emerging SECaaS Market
At this year’s VSEC Conference in London, SECaaS will be taking centre stage with three simultaneous presentation and discussion streams, comprising of over twenty sessions and involving some of the industry’s most recognisable names.
Fast becoming recognised as the most important event of the year for reseller partners, IT security consultancy providers and managed service providers. This year’s VSEC aims to provide attendees with all the information they need to start providing SECaaS solutions to their customers – including solution selling, technical capabilities, how to align portfolios with the cloud, and marketing.
If you are interested in attending this year’s VSEC Conference in London on the 19th of November, you can register your interest by following the link below.