LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global next-generation security solutions market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global next-generation security solutions market is expected to grow at a CAGR of more than 12%. One of the key factors resulting in the growth of the global next-generation security solutions market is the increase in IT consolidation and modernization. IT consolidations in organizations are taking place to improve operational efficiency and to achieve economies of scale.
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The three emerging market trends driving the global next-generation security solutions market according to Technavio research analysts are:
- Increasing demand for integrated security suites
- Adoption of SaaS-based security solutions
- Adoption of IoT
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Increasing demand for integrated security suites
One of the key trends observed in the global next-generation security solutions market is the increasing demand for next-generation security solutions. End-users prefer vendors that provide integrated and converged security suites as opting for different security suites may lead to integration issues. Integrated products from the same security vendor have better integration ability and support other functions.
According to a senior analyst at Technavio for IT security, “The increased complexity of the network infrastructure has made integration an essential buying criterion, solutions that offer better integration are finding more takers. Due to this demand for integrated security suites, all the major vendors are providing security suites with features such as data backup, encryption, firewall, intrusion prevention systems, and intrusion detection systems.”
Adoption of SaaS-based security solutions
Another important trend witnessed in the market is the increased adoption of security-as-a-service (SaaS) based next-generation security solutions. SaaS-based security solutions are cheaper when compared with traditional full license security solutions. This is because these security solutions follow the pay-per-use model.
The SaaS-based next-generation security solutions provide several advantages such as ease of installation and upgrading. With the adoption of SaaS-based security solutions experiencing significant growth, all the major vendors such as McAfee and Symantec are providing these. Furthermore, industries of various sizes, including small businesses are expected to witness the adoption of these solutions.
Adoption of IoT
Internet of Things (IoT) is an interconnection between devices, and it permits the exchange of volumes of data stored on the cloud. However, this data needs to be organized to simplify data analysis and presentation. IoT enables better connectivity and resolves all critical situations. The technology is anticipated to be integrated with advanced features, enabling improved functionalities.
The devices installed in homes can be controlled using mobile applications such as controlling power and temperature with thermostats. Certain wearable devices are anticipated to help count the calories burnt, distance traveled, and the number of stairs climbed. IoT has allowed proper communication between devices, systems, and services.
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