New Hosted Security Landscape Report by Morphean Reveals Essential Market Insights for 2020
Pan EU Study of Physical Security Solutions Shows Strong Market Growth as Cloud Proven to Deliver Better Security, Cost Benefits and Improved Functionality
A new whitepaper published today details market analysis of attitudes towards cloud adoption and purchasing behaviours behind hosted physical security from 1000 IT decision makers across Europe. The survey, undertaken by Morphean, a leading provider of hosted security solutions, illustrates a market that has overcome concerns about cyber-security, has understood the benefits and will be seeking to adopt such solutions at pace in 2020.
The independent survey of decision makers in UK, France and Germany shows better security, cost benefit and better functionality to be the most influential factors and the most commonly realised benefits of hosted security including video surveillance as-a-service (VSaaS) and access control as-a-service (ACaaS). These solutions are part of a cloud security market that is expected to grow by 2022, at a CAGR of 25.5%.
The ‘2019 Landscape Report: Hosted Security adoption in Europe‘ revealed that 84% of IT managers are currently using (48%) or considering using (36%) a hosted security solution. It also shows that better security ranked #3 among the main benefits realised by the cloud (44%) compared to 27% in 2018; representing a 63% increase in the year and shift in perception around cyber security concerns.
Key 2019 findings:
- Half of respondents cited better security as the #1 benefit of using VSaaS / ACaaS;
- 84% of IT managers are / considering using cloud-based video surveillance or access control;
- 79% anticipate introducing VSaaS and ACaaS to their business within 12 months;
- 77% of IT managers report that physical security is not optimized; 20% have identified physical security as a priority for improvement in the next 12 months.
Rodrigue Zbinden, CEO, Morphean SA reflected: “The increased appetite for hosted security presents an opportunity for us to work with businesses to help them improve their physical security, while educating them on the business intelligence benefits offered by surveillance and access control solutions when integrated in the cloud.”
The growing confidence in cloud seems to translate into positive purchasing intentions around hosted security solutions with 77% of IT managers reporting that physical security is not currently optimized and one in five identifying it as a priority for 2020, representing an opportunity for the IT reseller community to enhance its service offering.