Cloud Security Spending Set to Grow, Forrester Forecasts

As demand and adoption of the cloud continues to grow, there is a corresponding growth in organizations spending more on technologies to help secure cloud workloads, according to analyst firm Forrester. Forrester's Cloud Security Solutions Forecast 2018 to 2023 report estimates that by 2023 the global market for cloud security technologies will reach $12.7 billion, up from $5.6 billion in 2018. All that money isn't going to flow into a single vendor, but rather multiple technologies as organizations increasingly rely on having several different types of options for cloud security. In this eWEEK Data Points article, we look at some of the key insights from the Forrester cloud security forecast. Data Point No. 1: Public cloud use for mission critical workloads is growing. Driving the overall market for cloud security is demand for the public cloud itself. 54% of IT decision makers surveyed by Forrester noted that their organization are expanding their use of public cloud, which is an a more than two-fold increase from the 25% reported in 2015.