According to a new market research report "Cloud Security Market by ServiceType (IAM, DLP, IDS/IPS, SIEM, and Encryption), Security Type, Service Model(IaaS, PaaS, and SaaS), Deployment Type (Public, Private, and Hybrid),Organization Size, Vertical, and Region - Global Forecast to 2022", publishedby MarketsandMarkets™,
Major Key Players
The major vendors in the cloud security market include TrendMicro, Inc. (Tokyo, Japan), Intel Security (California, U.S.), SymantecCorporation (California, U.S.), IBM Corporation (New York, U.S.), Cisco systems(California, U.S.), CA Technologies, Inc. (New York, U.S.), CSC (Virginia,U.S.), and Fortinet, Inc. (California, U.S.).
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Cloud security refers to a broad set of policies, technologies,and services deployed to protect applications, data, & associatedinfrastructure through cloud. It comprises various security services, such ascloud Identity and Access Management (IAM), Data Loss Prevention (DLP), cloudIntrusion Detection System (IDS)/ Intrusion Prevention System (IPS), SecurityInformation and Event Management (SIEM), & encryption. MarketsandMarketsforecasts that the cloud security market size is expected to grow from USD 4.09Billion in 2017 to USD 12.73 Billion by 2022, at a Compound Annual Growth Rate(CAGR) of 25.5%. The sophistication level in the cyberattacks is increasing andcreating demands for more comprehensive cloud security services that would enablethe protection of complex network infrastructures.
As more and more processes shifts to the cloud, it becomes complexto handle various processes such as intrusion detection and prevention,endpoint security, and identity management. To solve all these issues,companies now prefer cloud-based security services. Both enterprises and Smalland Medium size Business (SMBs) are rapidly adopting these services. The primereason for this acceptance is the lower administration overhead and improveddata security services. As the companies are growing the number of employees,data, investment and their global presence is also expanding, which hasaccelerated the security threats. To secure these private networks companiesrequire advanced managed security services and IAM/IDaaS services, and need tofulfill the advanced regulatory compliances. Cloud-based security services notonly manage the identity and access issues but also help the companies meet theregulatory compliances.
All these factors are driving the cloud-based security servicesmarket. The total cloud security market is expected to grow from $4.2 billionin 2014 to $8.71 billion in 2019,at an estimated Compound Annual Growth Rate(CAGR) of 15.7% during the forecast period 2014-2019.It is anticipated that theIAM/IDaaS will be the largest market segment followed by the email security andweb security (WAF) services.
