The population's and businesses' critical need for cloud computing will probably accelerate cloud security market growth. The focus has shifted to security maintenance due to the rise in technological and online attacks. Therefore, businesses must take certain precautions before a cyber-risk arises. Ninety percent of businesses are using cloud-based services. Cloud services may be impacted by the General Data Protection Regulation (GDPR), but only twelve-tone music of the world's IT sectors are aware of this. Sixty-six percent of IT engineers say that after adopting the cloud computing platform, security was their top concern.
According to Data Bridge Market Research, the Cloud Security Market is expected to reach a value of USD 32.76 billion in 2021 and is expected to reach a value of USD 75.77 billion by 2029, at a CAGR of 11.05% during the forecast period 2022-2029.
“Increasing adoption of cloud services surge market demand"
The increasing adoption of cloud services across industries has created a greater need for robust cloud security solutions. As organizations migrate their operations to the cloud, they entrust their sensitive data and critical applications to third-party cloud providers. This reliance on cloud computing necessitates effective security measures to safeguard against data breaches, unauthorized access, and other cyber threats. The demand for cloud security solutions is driven by the imperative to protect valuable assets and ensure the integrity, confidentiality, and availability of data in the cloud environment.
What restraints the growth of the cloud security market?
“Complexity of cloud environments can impede the market growth”
The complexity of cloud environments, particularly in hybrid or multi-cloud setups, presents challenges for managing security effectively. With multiple cloud platforms and diverse infrastructure, ensuring consistent security measures and seamless integration with existing security systems becomes complex. Specialized expertise and resources are required to navigate the intricacies of different cloud environments, establish unified security policies, and implement robust security controls to protect data and applications across the entire cloud ecosystem.
Segmentation: Global Cloud Security Market
The cloud security market is segmented on the basis of service type, security type, service model, development type, security model, vertical type
- On the basis of service type, the cloud security market is segmented into Identity and Access Management (IAM), data loss prevention (DLP), intrusion detection system (IDS)/intrusion prevention system (ips), security information and event management (SIEM), encryption, others.
- On the basis of security type, the cloud security market is segmented into Application Security, database security, endpoint security, network security, and web and email security
- On the basis of service model, the cloud security market is segmented into infrastructure-as-a-service (IAAS), platform-as–a-service (PAAS), and software-as-a-service (SAAS)
- On the basis of development type, the cloud security market is segmented into public cloud, private cloud, and hybrid cloud.
- On the basis of security model, the cloud security market is segmented into small and medium enterprises (SMES), and large enterprises.
- On the basis of vertical type, the cloud security market is segmented into banking, financial services, and insurance (BFSI), aerospace and defence, automotive, energy and utilities, government and public utilities, healthcare, and life sciences, IT and telecom, manufacturing, retail, and others.
Regional Insights: North America Dominates the Global Cloud Security Market
North America is expected to dominate the market and covers a large market share. Government organizations and private businesses in nations like the United States and Canada are increasing their investment in security solutions by launching various initiatives and integrating research and development into already-existing solutions.
Asia-Pacific is projected to be the fastest-growing region in the cloud security market during the forecast period. North America dominates the market with 42.4% of the share globally. Through the high entry of rising cybercrime, connected devices, the presence of leading cloud security players, and growing awareness of cloud security among SMBs, the market is anticipated to grow during the forecast period.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-cloud-security-market
Recent Developments in Global Cloud Security Market
- In 2021, In just a few clicks, businesses can connect their on-premises branch services, data centers, and Amazon Virtual Private Clouds (Amazon VPCs) across the AWS global network with the help of the newly launched AWS Cloud WAN service.
- In 2021, Together, Verizon and Google Cloud are bringing the cloud's power to mobile and connected users at the Verizon network's edge. In order to provide the bandwidth and low quiescence required to support real-time enterprise operations like independent mobile robots, intelligent logistics, and plant robotization, Verizon plans to bring Google's computing and storehouse services to the edge of the original network using Verizon 5G Edge and Google Distributed Cloud Edge.
The Prominent Key Players Operating in the Global Cloud Security Market Include:
- Amazon Web Services,Inc. (U.S.)
- Microsoft (U.S.)
- Check Point Software Technologies Ltd.(U.S.)
- Google (U.S.)
- Palo Alto Networks. (U.S.)
- McAfee, LLC. (U.S.)
- IBM (U.S.)
- Zscaler, Inc. (U.S.)
- Cisco Systems, Inc. (U.S.)
- Fortinet, Inc. (U.S.)
- Sophos Ltd. (U.K.)
- Foreseeti (Sweden)
- Broadcom. (U.S.)
- Trend Micro Incorporated. (Japan)
- Tenable,Inc. (U.S.)
- Forcepoint (U.S.)
- Imperva. (U.S.)
- Proofpoint. (U.S.)
- Cloudflare,Inc ( US)
- Aqua Security Software Ltd. (Israel)
- Qualys,Inc. (U.S.)
- Konverge (U.S.)
- Bitglass,Inc. (U.S.)
- SiteLock (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of cloud security market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Cloud Security Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
