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Security-as-a-service set to take off

(Image credit: Image Credit: Maksim Kabakou / Shutterstock)

Organisations are turning towards cloud-based security services to stay safe in a world of “rapidly escalating threats”, new research has predicted.

A new report from privileged access management solutions firm Thycotic claims that cloud-based security services also helps organisations cut costs and better tackle the lack of staff resources.

Two thirds of the report's respondents have either already adopted Security-as-a-Service, or are planning to do so within the next 12 months. As time goes by, this number is just going to grow. Thycotic believes that by the time we hit 2021, more than 70 per cent of companies will be using security as a service.

The respondents consider security as a service to be more secure, fail proof and cheaper than on-premises solutions. Another key takeaway from the report is that organisations no longer need to be “expert for everything cyber security” in order to stay secure.

“Organizations typically use Security-as-a-Service solutions to limit or eliminate the need for on-premise hardware, software or specialized skilled resources.” said Joseph Carson, Chief Security Scientist at Thycotic.

“In another interesting result, the survey showed the security functions most frequently moved to Cloud-as-a-Service were led by Privileged Account Management and Identity Access Management (IAM).  This reflects the growing interest we see from our prospects and customers in Thycotic’s Secret Server Cloud PAM solution and our Privilege Manager Cloud endpoint protection solution."