The report reveals that start-ups are eager to fill the demand for cost-effective and specialised security services.
Start-ups are driving the security market for public cloud services, by filling the gap between public cloud offerings and security, as SMBs struggle to find the right balance between these two entities, new research has revealed.
The latest ABI Research report found that startups are eager to fill the demand for cost-effective and specialised security services for organisations paying out for public cloud services.
Identity and access management (IAM), which is driving the trend, has topped the list, while its market for public CSPs is expected to generate over $2bn in revenue by 2019.
Other responses are around cloud API management, host and network security, and encryption and key management.
ABI Research senior cybersecurity analyst Michela Menting said that despite the flurry of activity in plugging the public cloud security gap, the current offerings are still largely playing in a nascent market.
"There is great scope for continued innovation and growth in this sector, particularly around IaaS and PaaS offerings such as those from Amazon, Microsoft, and Google," Menting said.
According to report, security is on pace to figure significantly among composite and value-added services as organisations make out they need to boost control over cloud-based processes.