Cloud Security Market - Global Demand, Sales,COVID-19 Impact Analysis, Consumption and Forecasts to 2022
Security Market – OverviewThe global Cloud Security Market is demonstrating an exponential growth rate currently. Market Research Future, a firm which specializes in market reports related to the semiconductor & electronics technology sector among others, published in its recent report on Global Cloud Security Market Research Report- Forecast to 2022 that market is expected to grow from USD 5 Billion in 2016 to USD 13 billion by 2022, at an estimated CAGR of 17%. Cloud security broadly encompasses the technologies and policies deployed to provide protection to apps, data and cloud computing related infrastructure that are important contributors to demand of this sector.
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Since many businesses and personal users have moved to cloud computing to harness the benefits of remote working and other related features the market size has grown significantly. Positive shift in attitude towards implementation of cloud computing also has been a positive indicator for the growth of the global cloud security market. Cloud security is more effective than those employed for local storage and this is one of the main factors for the increased demand levels for the global cloud security market. Upsurge in internet of things concept which has spread in popularity in various segments has been one of the pivotal factors that is advancing the global cloud security market. Increase in demand for cloud computing has also favorably contributed to the growth of the sector.
Security breaches in cloud computing have prompted increased development in R&D and growth of diverse products to suit several requirements. Demand for this sector is heavily derived from government agencies, ecommerce, healthcare industries etc. as their functions gradually move on to cloud computing. BYOD devices are also steadily providing the required push to the growth of the market.
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Latest Industry News:
Dec 2017 Astellas Pharma Inc. have selected Verizon Enterprise Solutions’ Secure Cloud Interconnect solution to securely connect to and manage its Amazon Web Services (AWS) deployments. Secure Cloud Interconnect will enhance the centralised governance of Astellas’ IT systems, providing secure, reliable access to its various cloud-hosted global applications, while also giving Astellas the flexibility to quickly expand its overall cloud deployment to support future growth.
Nov 2017 Amazon Web Services, Inc. (AWS), an Amazon.com company announced that Symantec has chosen AWS as its strategic infrastructure provider for the vast majority of its cloud workloads, leveraging AWS’s infrastructure scale and maturity to deliver cloud security to its global customers.
Nov 2017 McAfee has acquired Skyhigh Networks, a specialist in cloud security. The deal is a sign of the ongoing trend for consolidation in the security industry, where smaller players are coming together under larger businesses to provide more security services under one roof. McAfee will provide global scale to further accelerate Skyhigh’s growth, with the combined company providing leading technologies and solutions across cloud and endpoint security.
Dec 2017 Intertek, a leading Total Quality Assurance provider to industries worldwide, has acquired Acumen Security, LLC (Acumen) a US-based provider of security certification and assurance services. As a trusted partner to many of the world’s leading IT solutions providers, Acumen will complement and enhance Intertek’s current offering of cyber security and Internet of Things (IoT) services for a variety of products.
Nov 2017 As a part of an all-cash exchange, cloud-security and firewall company Barracuda, announced recently that it had agreed to be acquired by private-equity firm Thoma Bravo, LLC for a total of $1.6 billion. The deal is expected to be finalized by Feb. 28, 2018.
Global Cloud Security Market - Competitive Analysis
With the entry of new industry players in the global cloud security segment, a trend of solid, volume-driven growth has been observed in the market with the addition of new and advanced products. Companies are aiming to capture & solidify their share of the market segment, by competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
The prominent players in the market of Cloud security market are Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Symantec Corporation (U.S.), Trend Micro Inc. (Japan), CA Technologies, Inc. (U.S.). Some of the other prominent players are Microsoft Corporation (U.S.), Okta, Inc. (U.S.), Cloud Passage Company (U.S.), Intel Corporation (U.S.) and Fortinet, Inc. (U.S.) among others.
Global Cloud Security Market – Segments
The Global Cloud Security Market has been segmented on the basis of deployment, types, end users and application.
On The Basis Of Deployment: Public, Private and Hybrid among others.
On The Basis Of Types: Virtualization Security, Network Security, Cloud Database Security, E-Mail & Web Security and Data Loss Prevention among others.
On The Basis Of Industry: Small and Medium Enterprises and Large Enterprises among others.
On The Basis Of End Users: Retail, Healthcare, IT & Telecom, BFSI and Government Utility among others.
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
Global Cloud Security Market - Regional Analysis
The global cloud security market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Regionally, North America is expected to dominate the cloud security market with the existence of large organizations that possess very huge database. The need of safety & security solutions to secure the huge existing database of the organizations is contributing to the growth of cloud security market in the region. The European region has highly developed network infrastructure. The growing healthcare industry in the region is demanding for security over cloud technology thereby driving the cloud security market. The Asia pacific region is promoting the concept of bring your own device to the company premises which is increasing the threat of cyber-attacks for data on-cloud., To save the corporate data from unauthorized access and treats of cyber-attacks more and more companies are establishing the cloud security systems.
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