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70% of Orgs Will Use Security-as-a-Service by 2021

More than 70% of organizations will be using Security-as-a-Service by 2021, according to new research from Thycotic.

The privileged access management provider surveyed IT managers and technology decision makers at the KuppingerCole European Identity & Cloud conference in Munich in May, compiling its findings in the Security as a Service on the Rise report.

Two out of three respondents said their organization is already adopting Security-as-a-Service, or will be in the next 12 months, with 70% planning to do so by 2021. Those polled cited reduced costs, faster IT services delivery and greater flexibility as reasons for opting for Security-as-a-Service solutions.

“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.

Respondents also indicated they are turning to cloud-based security services to help keep up with rapidly escalating threats, costs and a lack of staff resources with cybersecurity expertise.

“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,” added Carson.

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