Prediction #2 - By 2015, 10 percent of overall IT security enterprise product capabilities will be delivered in the cloud:

Growth rates for cloud-based security services are set to overtake those of traditional on-premises security equipment over the next three years with operational cost reduction, flexibility of deployment across multiple IT environments, and fast implementation and product updates among major factors driving demand.

A number of factors will inhibit higher adoption of cloud-based security services as not all businesses will be able to benefit from this delivery model in equal measure. Those organizations located in geographies where Internet connectivity is unreliable or that require high levels of product customization will be at a disadvantage in utilizing this form factor.

Growth opportunities are present across different regions and countries, but Gartner expects North America to provide the majority of spending.

"The biggest opportunities currently center on areas such as messaging and Web security as well as remote vulnerability assessment," said Contu. "However, as maturity evolves a wide variety of security offerings will emerge, such as data loss prevention (DLP), encryption and authentication, to be increasingly available in the cloud. As new startup players establish themselves with innovative offerings, established players will look to acquire them to expand their portfolios with new capabilities and remain competitive."

Also Read: India's Top 10 CRM Software Systems

Also Read: SAP Just Gave a Major Blow to IBM, Oracle and Microsoft