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The cloud security market is expected to shine throughout the forecast period of 2014-2022 in terms of growth. Cloud security protects online stored data from malicious activities. Cloud security includes penetration testing, virtual private networks (VPN), tokenization, and obfuscation among others. Based on applications, the cloud security market can be classified into hospitality, IT and telecommunication, pharmaceuticals, retail, BFSI, government and public utilities, and others.

  • The COVID-19 outbreak brings tremendous growth opportunity for the cloud security market in the forecast period. As the novel coronavirus spreads through contact, a lockdown is being observed across many parts of the globe to prevent spread. This has led to many employees, especially from the IT sector to work from home. Work from home involves cloud computing usage to a large extent. This brings cybersecurity threats on the front page due to limited critical IT infrastructure access by privileged users, collaboration tools usage by employees and others. This situation is a breeding ground for a hacker to launch cyber attacks.
  • This unprecedented situation makes cloud security essential not only for commercial organizations, but also for governments, municipalities, schools, and small businesses. This is because of the possibility of cyber attacks by some anti-social elements to access confidential data. Hence, growth generation is also expected from these sectors rather than just the commercial organizations.
  • To tackle these cyberattacks, technological innovations with enhanced security features are on the rise. Microsoft recently launched an ATT&CK-inspired matrix. This move will help in tackling the increasing security attacks on Kubernetes, a popular open-source system for automating containerized application management.
  • Investments in the cloud security market are also gaining considerable momentum. For instance, Chinese tech giant Alibaba has decided to invest $28b in cloud services as cloud security demand increases amidst COVID-19 pandemic. This investment will be used to upgrade its data center infrastructure.

Global Cloud Security Market: Snapshot

The global cloud security market is gaining traction due to the increasing need to protect online data against misuse, theft, and breach.  Companies usually store sensitive data including employee’s information, financial information, intellectual property information, nondisclosure agreements, and various other information in cloud that need to be protected. Thus, growing adoption of cloud-based services has created a high demand for cloud security services across the globe.

Cloud-based security services are much better than traditional premises-based models. The cloud security services are easy to manage and provide high level of security. In addition, security applications delivered as cloud-based services provide a promising platform to manage security and threat concerns. Cloud-based services are highly used as it provides benefits such as agility, scalability, flexibility, and business continuity at work and reduces cost of security services used to protect information.

The global cloud security market is likely to reach a valuation of US$11.8 bn by the end 2022 progressing from US$4.5 bn in 2014. The market is expected to expand at a healthy CAGR of 12.8% during the forecast period from 2015 to 2022.

Flexibility and Less Time Consumption to Boost Demand for Hybrid Cloud Security Service

The global market for cloud security is categorized on the basis of deployment, end-use, and service type. Based on end-use, the market is segmented into government and public utilities, BFSI, IT and telecommunication, healthcare and pharmaceuticals, hospitality and retail, and others. Out of these, IT and telecommunication industry held the largest share in 2014. The regular use of cloud computing in day-to-day operations for transferring large amount of encrypted data across various departments has led to rise in demand in the market. Adding to this, the increasing use of android-based phones among end-users are equipped with cloud storage services, thus, boosting demand for cloud security in telecom carriers.

In terms of deployment, the global cloud security market is segmented into private cloud, public cloud, and hybrid cloud. Of these, hybrid cloud security market held the largest share in the market in 2014. People using hybrid cloud service can manage their workload in public, private, and on premise cloud. Deployment of hybrid cloud services helped users to move data in less time and in a flexible manner. The demand for hybrid cloud security services is expected to increase in coming years due to flexibility in storing data. Moreover, the application of cloud IAM, SIEM, and data loss protection is likely to boost the demand for hybrid cloud security.

Based on service type, the market is segmented into the email and web security, data loss prevention (DLP), cloud IAM, network security, cloud database security, virtualization security, and others. Among these, data loss prevention held the largest share in 2014. This service type helps in tracking and protecting data that is being used on network or is kept in storage through security analysis and deep content inspection. The use of DLP also helps in keeping the data within the cloud services of an organization and restrict it from moving out in any way or through any removable device.

North America to Lead Market with Growing Use of Cloud Security across Organization

On the regional front, North America held the largest share in the global cloud security market in 2014. High adoption of cloud security services across organizations catapulted North America to the global market’s fore. It is expected that North America will remain a favorable location for the players in the coming years, where Asia Pacific is also offering lucrative opportunities for these services.

Some of the prominent players in the global cloud service market include Symantec Corporation, Trend Micro, Inc., CA Technologies, Inc., Intel Security Group (McAfee, Inc.), and IBM Corporation

This report aims to provide a comprehensive strategic analysis of the global cloud security market along with the market size and growth forecast for the period from 2012 to 2022. The key factors driving the growth of cloud security market include superior advantages of cloud security services, increasing demand for cloud computing by small and medium businesses (SMBs), and proliferation of handheld devices along with the rising trend of bring your own device (BYOD) and choose your own device (CYOD) policies. However, lack of awareness and skeptical nature of enterprises towards cloud services are restraining the cloud security market growth. Security software comprises a suite of security products. A security software solution provides several features such as endpoint monitoring, encryption, intrusion detection, messaging security, identity and access management, and vulnerability scanning. Security software is widely adopted by large enterprises to protect critical information related to businesses from data theft and unauthorized access. Growing demand for integrated security suites is one of the key trends in the cloud security market.
This research study on the global cloud security market provides a detailed analysis of how organizations from various industries use cloud security solutions and services in order to prevent the theft and loss of crucial data. The report offers an in-depth analysis of the various factors affecting market dynamics such as market drivers, restraints, and growth opportunities. Using these factors, the report identifies various trends expected to impact the market during the forecast period from 2015 to 2022. The report includes a comprehensive coverage of underlying economical, environmental, and technological factors influencing the cloud security market. It also provides the competitive landscape of the key players in the cloud security market in order to highlight the prevalent competition in this market.
Based on end-use industry, the cloud security market is segmented into BFSI (Banking, Financial Services, and Insurance), healthcare and pharmaceuticals, IT and telecommunications, government and public utilities, hospitality and retail, manufacturing, and others segments. The others segment includes media and entertainment, and education industries. On the basis of service type, the cloud security market is segmented into data loss prevention, web and email security, network security, cloud database security, virtualization security, and others. The others segment includes security information and event management (SIEM), business continuity and disaster recovery (BCDR), and encryption. Moreover, based on deployment type, the market for cloud security is segmented into public cloud, private cloud, and hybrid cloud. Depending on their specific requirements, organizations can choose between these three deployment models to efficiently protect their data from loss and theft.
The report aims to provide a comprehensive, cross-sectional analysis of the cloud security market across geographical segments such as North America (the U.S. and rest of North America), Europe (EU7, CIS, and rest of Europe), Asia Pacific (Japan, China, Australasia, rest of APAC), the Middle East and Africa (North Africa, Southern Africa, rest of MEA), and Latin America (Brazil and rest of Latin America).
The report provides a detailed competitive analysis of the key players in cloud security market and identifies various business strategies adopted by these leading players. The study explains the penetration of each market segment within various geographies and how they have accelerated the growth of cloud security market. 
The report includes an overview of the market strategies, annual revenues, and recent developments of the key companies operating in the market. The key market participants profiled in the study include IBM Corporation, Fortinet, Inc., Intel Security Group, Panda Security SL, Symantec Corporation, CA Technologies, Panda Security SL, Sophos Ltd., Cisco Systems, Inc., Fortinet Inc., and Trend Micro, Inc.

Market Segmentation:

Cloud Security Market by Deployment Type

  • Public Cloud
  • Private Cloud
  • Hybrid Cloud 

Cloud Security Market by End-use Industry

  • BFSI
  • Government and Public Utilities
  • IT and Telecommunication
  • Hospitality and Retail
  • Healthcare and Pharmaceuticals
  • Others

Cloud Security Market by Service Type

  • Data Loss Prevention
  • Email and Web Security
  • Cloud IAM
  • Cloud Database Security
  • Network Security
  • Virtualization Security
  • Others 

Cloud Security Market by Geography

  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa (MEA)
  • Latin America

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Cloud Security Market

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