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™, The cloud security market size is expected to grow fromUSD 4.09 Billion in 2017 to USD 12.73 Billion by 2022, at a Compound AnnualGrowth Rate (CAGR) of 25.5%.
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.
Browse 68 market data tables and 71 figures spread through 170pages and in-depth TOC on "Cloud Security Market byService Type (IAM, DLP, IDS/IPS, SIEM, and Encryption), Security Type, ServiceModel (IaaS, PaaS, and SaaS), Deployment Type (Public, Private, and Hybrid),Organization Size, Vertical, and Region - Global Forecast to 2022"
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.).
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. As most of theorganizations are moving their businesses over the cloud, the risk of databreaches and cyberattacks is very high. Cloud-based security services helporganizations to strengthen their entire business infrastructure by providingvarious security services. Cloud security vendors are developing advanced cloudsecurity services to provide proactive and holistic security to criticalbusiness applications.
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Software-as-a-Service (SaaS) service model in the cloud securitymarket is expected to have the largest market size during the forecast period.The major reason for the high adoption of SaaS among the service models is theincreased usage of the cloud-based applications by cloud service providers.However, these SaaS applications might contain malicious activities, which maycause significant data loss. The cloud-based security services help minimizethe loss of data through control and regular monitoring of cloud-basedapplications and cloud services.
The cloud security market by security type includes applicationsecurity, database security, endpoint security, network security, and web &email security. The application security segment is expected to grow at thehighest CAGR during the forecast period. As the organizations are moving theircritical business infrastructures over the cloud, it is becoming essential forthem to protect their sensitive data from the increased number of securitybreaches. Hence, the demand for cloud security services for data applicationsecurity is expected to increase.
The retail vertical is expected to grow at the highest CAGR duringthe forecast period as retailers are continuously transforming their businessesfor better eCommerce shopping experience and to improve their businessoperations. To protect the customer’s sensitive data that is stored on thecloud, various security vendors are developing advanced cloud security servicesthat deliver highly secure and flexible security services for the retailers.
The cloud security market is expecting a rapid growth in variousregions across the globe. Asia-Pacific (APAC) is projected to grow at thehighest CAGR during the forecast period, as the organizations in this regionare deploying cloud-based security services to defend against advancedcyberattacks and security breaches. North America is expected to contribute tothe largest market share in the overall cloud security market.
Globally, the adoption of cloud security services is rising due tothe increasing demand of cloud computing and the high adoption of Bring YourOwn Device (BYOD) and Internet of Things (IoT) trends. As the sophisticationlevel in cyberattacks is increasing, cloud security vendors are trying todevelop better platforms to provide a proactive and holistic security tobusiness-critical applications.
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