Global Cloud Security Market, By Service Type (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), Security Type (Application Security, Database Security, Endpoint Security, Network Security and Web and Email Security), Service model (Infrastructure-as-a-Service (IaaS), Platform-as–a-Service (PaaS) and Software-as-a-Service (SaaS)), Development Type (Public Cloud, Private Cloud and Hybrid Cloud), Security Model (Small and Medium Enterprises (SMEs), Large Enterprises), Vertical Type (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), – Industry Trends and Forecast to 2029
Cloud Security Market Analysis and Size
The important necessity of cloud computing by enterprises and also the population is probably going to accelerate market growth. With on-line breaches and technological attacks on the increase, security maintenance has become the purpose of focus. Thus corporations ought to take bound precautions before the onset of cyber risk. The recent statistics justify that there exist some organizations that have used cloud-based security solutions. Around ninetieth of corporations area unit deploying cloud-based services. solely twelve-tone music of world IT sectors perceive however General knowledge Protection Regulation (GDPR) can have an effect on cloud services. sixty six of IT engineers say that security was the largest concern after they adopted the cloud computing platform.
Data Bridge Market Research analyses that the cloud security market value, which was USD 32.76 billion in 2021, is expected to reach the value of USD 75.77 billion by 2029, at a CAGR of 11.05% during the forecast period 2022-2029. “BFSI" accounts for the largest end user industry segment in the cloud security market owing to the increasing adoption of cloud security solutions as banks and financial institutions as part of their efforts to reduce paperwork and improve the efficiency of their processes. The cloud security market report also covers pricing analysis, patent analysis, and technological advancements in depth.
Cloud Security Market Definition
Cloud security is a broad range of technologies and procedures that help to protect various applications of data and computers from cloud-attacks and unethical access by providing secure networks and information. Suitable security and privacy challenges for cloud computing are also presented through cloud security services and solutions. The structure of cloud security is effective for giving prevention, goon skin and correction control. This improves the security capabilities of cloud providers and their personal risk assessment.
Cloud Security Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Service Type (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), Security Type (Application Security, Database Security, Endpoint Security, Network Security and Web and Email Security), Service model (Infrastructure-as-a-Service (IaaS), Platform-as–a-Service (PaaS) and Software-as-a-Service (SaaS)), Development Type (Public Cloud, Private Cloud and Hybrid Cloud), Security Model (Small and Medium Enterprises (SMEs), Large Enterprises), Vertical Type (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)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Amazon Web Services,Inc. (US) ,Microsoft (US),Check Point Software Technologies Ltd.(US), Google (US,),Palo Alto Networks. (US), McAfee, LLC. (US) ,IBM (US) ,Zscaler, Inc. (US) ,Cisco Systems, Inc. (US) ,Fortinet, Inc. (US) ,Sophos Ltd. (UK) ,Foreseeti (Sweden) ,Broadcom. (US)Trend Micro Incorporated. (Japan),Tenable,Inc. (US),Forcepoint (US),Imperva. (US),Proofpoint. (US),Cloudflare,Inc ( US),Aqua Security Software Ltd. (Israel),Qualys,Inc. (US),Konverge (US),Bitglass,Inc. (US),SiteLock (US)
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Market Opportunities
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Global Cloud Security Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers:
- Upthrust in the use of cloud-based solutions and MSS
Forbes estimated that 83 of enterprise workload would be stored on the cloud by 2020. Major cloud companies, similar as Amazon and Google, heavily invest in enhancing their cloud security immolations to combat the ever- evolving cyberattack script. The demand for cloud- grounded services has soared due to the outbreak of COVID-19. The outbreak of COVID-19 forced enterprises to borrow cloud services to a large extent due to work-from- home scripts worldwide. Microsoft reported a 775 increase in the demand for its cloud service platform during the epidemic. Also,- managed services are gaining traction among SMEs as they warrant the in- house capabilities to manage cloud services efficiently. According to OTAVA, in 2021, 87 of enterprises have formerly espoused cold-blooded cloud strategies for the benefits it brings by combining the public cloud with the security of a private on- demesne cloud terrain. According to Flexera’s 2020 State of the Cloud Report, enterprises embrace cloud relinquishment, with 93 of them using amulti-cloud strategy, while 87 use a cold-blooded cloud strategy. Major cybersecurity merchandisers, similar as Google, Microsoft, and Amazon, largely demand cloud security immolations. Due to implicit benefits, similar as ease of access, quick deployment, low IT structure demand, and low installation cost, SMEs are rushing to borrow cloud computing in their processes and operations.
- Growing complexities associated with procurement to present numerous opportunities for small scale businesses
Owing to the global economic rise, there is a huge scope of growth for the information and communication technology industry. Surging adoption of cloud computing, growing adoption of new and advanced technology and strong emphasis businesses across the globe are putting on eliminating the conventional approaches and paperwork indicates a good scope of growth.
Opportunities:
- Increasing government initiatives to support smart infrastructure projects
Governments across countries are investing in cloud- calculating delivery models. They work with private sector companies through Public-Private Partnership (PPP), promoting smart megacity enterprise and smart transportation systems. Cloud- grounded technology offers dependable, cost-effective, and scalable results. Critical structure diligence, similar as dispatches, IT, energy, and fiscal services, have espoused cloud results to store particular and non-public data. Governments in the Middle East countries are espousing various enterprise, similar as the Dubai Internet City (DIC) and the Kingdom of Saudi Arabia (KSA) Vision 2030, with the motive of transubstantiating their metropolises to make them digitally connected and concentrate on the development of smart structures, smart transportation services, and smart metropolises. In 2020, the Japanese government inked a contract with AWS worth USD 273 million to host mortal resource systems and document operation tools in the cloud. These enterprise are largely contributing to digital dislocation using cloud technologies. Hence, government enterprise with heavy investments in cloud technology are anticipated to drive the growth of the cloud security request.
Restrictions/ challenges:
- Distrust and weak collaboration among enterprises and cloud security service providers
Large and small associations are reluctant to move their businesses over the cloud as they don't trust cloud services providers (CSPs) fully. A cloud service provider’s structure holds critical data of associations and is therefore largely susceptible to repeated and complex cyberattacks; this can discourage companies from handing over their nonpublic data to these service providers. Following a transparent information security approach by cloud security service merchandisers could enable companies to gain the trust of their guests. Similar cases of mistrust in cloud computing technology for data storehouse are inhibiting the growth of the cloud security request.
- Lack of awareness among enterprises and consumers due to the complexities of cloud computing models
Enterprises depend on cloud services for on- demand storehouse power and computing coffers. Cloud security results come in various service models, similar as Software as a Service (SaaS), PaaS, and Structure-as-a-Service (IaaS). Organizations face a pivotal challenge when opting the right structure to emplace cloud security results as per their requirements. The IaaS service model of cloud security uses virtualization technologies and provides on- demand structure service to end druggies, adding the overall complexity of the cloud structure. Druggies in the MEA and Latin American regions aren't extremely familiar and apprehensive of the benefits and eventuality of cloud security. Factors similar as data security and logistics of integrating cloud computing on being systems further hamper the growth of cloud security. Due to the adding complexity of cloud computing results, it has come delicate to descry zero- day ( unknown) pitfalls in the cloud structure. Counting on CSPs to manage the entire portfolio of an association’s cloud structure, similar as installation, specialized support, client relationship management (CRM), and training and support services, could help overcome complications in cloud security deployment in the future.
This cloud security market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cloud security market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Cloud Security Market
Adopting rapid-fire digital metamorphosis strategies due to COVID-19 has incontinently increased the need of cloud computing, thereby fueling the need of cloud security. With the emergence of remote work and collaboration, cloud computing has surfaced as an supporter for enterprises. The COVID-19 situation has acted as a catalyst for a swell in demand for cloud results. Before this epidemic, numerous associations believed that moving sensitive data stored on the cloud could be parlous. Still, post the epidemic, there has been a swell in the deployment of cloud results, therefore paving the path for the need for cloud security results. Dispatch phishing crimes have spiked up due to the COVID-19. Scammers are using COVID-19 as a lure to gain gains. The shift in remote conditioning, similar as teleworking, has propelled the reliance on dispatch for communication, therefore creating the perfect space for dispatch fraud schemes. According to a report by McAfee, with increased operation of cloud services and collaboration tools, similar as Cisco WebEx, Zoom, Microsoft Brigades, and Slack, cyberattacks targeting the cloud have gone up. The report further revealed a 600 increase in collaboration tools, with the loftiest growth shown by the education sector and a 630 increase in cyber trouble events. As a result, elderly directors of associations consider using cloud security as a precedence to manage the liability of cyber pitfalls, especially for data protection purposes. With cloud pitfalls adding fleetly, all diligence need to estimate their security postures. Enterprises are securing themselves with a cloud-centric security mind-set to cover against trouble actors trying to exploit the sins in cloud deployments.
Recent Developments
- In December 2021, AWS launched new service-AWS Cloud WAN provides a central dashboard that enterprises can use to connect their on- demesne branch services, data centers, and Amazon Virtual Private Shadows (Amazon VPCs) across the AWS global network in just a many clicks.
- December 2021-Verizon and Google Cloud are working together to bring the power of the cloud closer to mobile and connected bias at the edge of Verizon's network. With Verizon 5G Edge and Google Distributed Cloud Edge, Verizon plans to bring Google’s computing and storehouse services to the edge of the original network enabling the bandwidth and low quiescence demanded to support real- time enterprise operations like independent mobile robots and intelligent logistics and plant robotization.
Global Cloud Security Market Scope
The cloud security market is segmented on the basis of service type, security type, service model, development type, security model, vertical type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Service type
- Identity and Access Management
- Data Loss Prevention
- Intrusion Detection System and Intrusion Prevention System
- Security Information and Event Management
- Encryption
- Others
Security type
- Application Security
- Database Security
- Endpoint Security
- Network Security
- Web and Email Security
Service model
- Infrastructure-as-a-Service
- Platform-as–a-Service
- Software-as-a-Service
Development Type
- Public Cloud
- Private Cloud
- Hybrid Cloud
Security Model
- Small and Medium Enterprises
- Large Enterprises
Vertical Type
- Banking
- Financial Services
- Insurance
- Aerospace and Defence
- Automotive
- Energy and Utilities
- Government and Public Utilities
- Healthcare and Life Sciences
- IT and Telecom
- Manufacturing
- Retail
- Others
Cloud Security Market Regional Analysis/Insights
The cloud security market is analysed and market size insights and trends are provided by country, service type, security type, service model, development type, security model, vertical type, as referenced above.
The countries covered in the cloud security market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The report analyses the continued market trends across 5 major regions, as well as North America, geographic region, Europe, Asia Pacific, and therefore the geographic region and Africa. Among all regions, the market in North America is projected to emerge dominant within the coming back years. The high capital expenditures within the regional IT sector have created a large platform for the businesses in operation during this region. The increasing investments in R&D of software-based product have resulted in augmented adoption of cloud-based platforms. in addition, the presence of many IT corporations, particularly within the us, also will contribute to the expansion of the regional market. As of 2019, the Cloud Security market in North America was value USD 188.3 million, and this price is projected to rise at a substantial pace within the coming back years.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Cloud Security Market Share Analysis
The cloud security market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cloud security market.
Some of the major players operating in the cloud security market are:
- Amazon Web Services,Inc. (US)
- Microsoft (US)
- Check Point Software Technologies Ltd.(US)
- Google (US)
- Palo Alto Networks. (US)
- McAfee, LLC. (US)
- IBM (US)
- Zscaler, Inc. (US)
- Cisco Systems, Inc. (US)
- Fortinet, Inc. (US)
- Sophos Ltd. (UK)
- Foreseeti (Sweden)
- Broadcom. (US)
- Trend Micro Incorporated. (Japan)
- Tenable,Inc. (US)
- Forcepoint (US)
- Imperva. (US)
- Proofpoint. (US)
- Cloudflare,Inc ( US)
- Aqua Security Software Ltd. (Israel)
- Qualys,Inc. (US)
- Konverge (US)
- Bitglass,Inc. (US)
- SiteLock (US)
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