Monday Morning Impact – November 13

Cloud Security to See Nearly 14% Growth Through 2022

The global cloud security and vulnerability technologies market is expected to grow at a compound annual growth rate (CAGR) of 13.9% through 2022 and reach an estimated market value of $10.1 billion, according to a new industry report by BCC Research. According to the Wellesley, Massachusetts-based company, market growth is being led by the identity/access management, vulnerability assessment and security information and event management sectors. Network security will continue to be the largest sector of the market, with an estimated 2022 value of $3.1 billion.

According to the report entitled, “Cloud Security and Vulnerability Technologies: Global Markets,” public cloud services will lead growth in the identity and access management cloud security market through 2022, with a CAGR of 28.9%. Private cloud services remain the largest sector of the market.

The global market for network security is led by growth in the Asia-Pacific region, which could see an average annual expansion of 14.2% through 2022, while the largest segment is North America.

“Enterprises of all sizes over the forecast period will increasingly invest in cloud security solutions for security and the ROI benefits of cloud adoption,” said Kevin Fitzgerald, BCC Research editorial director. “Within this, we expect the private cloud to be the top revenue generator but the public and hybrid cloud segments to have higher compound annual growth rates of 28.9% and 26.5%, respectively, from 2017-2022.”

Key industries driving growth of cloud security include banking and financial services, IT and telecom, intelligence, retail, healthcare and government agencies.

Channel Impact^®
The security market is being strengthened by prominent headlines pertaining to data breaches and network attacks. Many channel partners report that customers are more willing to invest money in security than ever before.

New Tenable Partner Program Targets MSPs, Sis and Resellers

Tenable, Inc., a Columbia, Maryland-based security vendor, has unveiled “Tenable Assure,” a new partner program that emphasizes long-term, consultative relationships between channel partners and customers by parlaying raw security data into metrics that can drive the purchase decision.

In recognition of the continuing global shortage of trained security professionals, the initiative also includes the company’s first managed security service provider (MSSP) program, supporting partners’ custom services.

“Partners are critical to our mission of empowering organizations to accurately understand, represent and reduce their cyber risk across the rapidly changing modern attack surface,” said John Negron, chief revenue officer at Tenable. “We’re investing in our partners to help them remain competitive in a market that is rapidly evolving and together we’re building a world-class revenue-generating machine that will not only accelerate Tenable into the next stage of growth, but benefit our partners directly as well.”

Program components include training/certification and deal registration.

Tenable claims more than 23,000 customers in more than 150 countries, including over 50 percent of the Fortune 500, 10 of the top 10 largest U.S. technology companies and eight of the top 10 largest U.S. financial institutions.

Channel Impact^®
As different customers procure technology through different business models, it has become increasingly important for partner programs to include managed services, as well as integration and resale.

Pitney Bowes and Arrow Electronics Forge IoT Partnership

Pitney Bowes and Arrow Electronics have established an alliance designed to help public sector authorities securely gather, process and analyze data collected through IoT devices in order to improve physical infrastructure efficiencies.

Through this collaboration, the two companies intend to develop a solution that leverages the Confirm Intelligent Infrastructure Management and the Arrow Connect platform to quickly, efficiently and securely process and analyze IoT-generated data captured through Arrow’s array of infrastructure sensors.

“This collaboration with Arrow allows Pitney Bowes to offer a more robust, IoT-ready infrastructure management solution on a global scale,” said Mark Taylor, SVP of Software Channels at Pitney Bowes. “This is a strategic move for both organizations, as our clients continue to demand innovation that collects real-time data and drives efficiency and responsiveness to their organizations.”

“Pitney Bowes has a proven track record in Infrastructure Management and our partnership will bring scale to their ability to collect and process IoT data and turn it into real insight,” said Aiden Mitchell, VP of Global IoT Solutions, Arrow Electronics. “Our alliance will create a pathway for our clients to create a truly smarter world to live in.”

Channel Impact^®
With the increase of connected devices, the Internet of Things is generating data that can be used to produce valuable insights about cities, how they operate, where they can improve, and what’s the best process to facilitate enhancements. All this can translate to substantial opportunities for channel partners who build practices in this sector.