New research shows that businesses are investing more and more in protecting themselves from cyberattacks. The report highlights that cyberthreats keep changing and that organisations need to evolve their security.

A new global study by Canalys shows that cybersecurity solutions for the public cloud sold ‘as a service’ is growing in popularity. In the first quarter of 2019, for example, there was a 46 per cent growth in the market year-on-year. Now, cybersecurity solutions as a service account for 17.6 per cent of the value of the cybersecurity market as a whole, up from just 13.8 per cent at the beginning of 2018.

The report shows that businesses and public organisations are increasingly keen to protect their assets held in the public cloud, which also reflects a change in how organisations work these days. Despite the market still being dominated by traditional security software and hardware solutions, cloud security solutions as a service are very quickly gaining pace. The report states that its results “highlight the ongoing transition in cybersecurity solutions, as organisations look to protect more data assets and workloads located in the public cloud.”

In fact, Canalys’s report suggests that regardless of the economic and political future we have ahead of us, this type of cybersecurity solution will continue to be needed and large investments will continue to be made. Matthew Bell, the Principle Analysts behind the report, stated:  "The security industry will be immune to the increasingly challenging macro-economic and political environment."

What’s driving the growth in cloud security as a service?

High profile ransomware attacks are still among the most alarming trends to hit cloud users in recent years, with some organisations being forced to shell out large sums into order to regain control of their data and networks. Cybercriminals are, of course, aware of the financial and reputational damage a data breach can have on a business and are willing to hold them to ransom for millions of pounds in response.

Businesses who think they are either too large or too small to be a target need to think again and realise that no-one is immune to the hackers in the current cybersecurity climate. In fact, failing to invest in cybersecurity is a red flag to a bull, as hackers will be aware of IT vulnerabilities and will exploit them.

The solution? In order to protect your business from the ever-evolving threat of a cybersecurity breach, especially if you use the public cloud, you need to focus on taking a holistic view of your security. Our Unified Threat Management solution protects your data and your users whether they are in the office or in the cloud  - or even at home. We also offer managed firewall, VPNs and denial of service protection to give your business the most robust protection possible.