Cloud Security market
Cloud security can be defined as a broad array of technologies and policies that are deployed to offer security to the organizational information and manage it proficiently. Cloud security assists in preventing different types of cyber-attacks and safeguards the data in case of any breach arising. Cloud security also assists in the preservation of the data. The data is kept private and any unauthorized entree to the employees and other stakeholders is prevented. Rapid transformation in technology and the increasing amount of digital content generated by industrial sectors needs to be safeguarded. As the disposition of manual security is getting streamlined, organizations are increasingly opting for cloud solutions which aids in managing great amount of data without any restraint. The data uploaded by the organizations are confidential in nature and a theft and breach may lead to forfeiture of billions of dollars. To eliminate such mishaps, cloud computing security or cloud security comes into picture. The cloud security, with the help of new technologies and policies, helps the organization to define and facilitate access to the authorized users only. A key driving force behind the development of cloud security market is the growing instances of cyber security threats. Moreover, several other forces such as surging dependency of the businesses on cloud computing and expansion in employee mobility is also estimated to fuel the market growth in the upcoming years. Arrangements such as BYOD, also affect the cloud security market positively. The rise of online market is also held responsible for driving the progress of the global cloud security market. The telecom & IT sector is contributing extensively to the development of cloud security market. IT businesses are rapidly adopting the cloud services for transmitting data. The easy availability of internet on smartphones also encourages the growth of the cloud security market substantially. The global cloud security market is likely to develop from USD 5 bn in 2016 to USD 13 bn by the conclusion of 2022. The market is expected to grow at an approximate CAGR of 17%. However, several small and medium enterprises lack awareness about cloud security and they fear losing data privacy. These factors are likely to limit the growth of the cloud security market.
Market Segmentation
The global cloud security market is segmented based on types, deployment, application, and end users. By types, the global cloud security market is segmented into network security, virtualization security, e-mail, cloud database security, data loss prevention, and web security. By deployment the market is segmented into private, hybrid, and public. By application, the market is segmented into medium enterprises, large enterprises, and small enterprises. By end user, the market is segmented into healthcare, retail, government utility, BFSI, and IT & telecom.
Regional Analysis
According to geography, North America is likely to lead the cloud security market on account of the presence of renowned businesses that represent large database. The requirement for security & safety solutions to protect the huge database of the organizations is anticipated to drive the growth of cloud security within the North America market. The Europe market reflects highly progressive network infrastructure. Expanding healthcare sector in this market has significant demand for security over cloud technology. By this means, the Europe cloud security market is estimated to witness exponential growth over the assessment period. The Asia pacific market is encouraging the idea of BYOD to the organization’s premises which is surging the threat of cyber-attacks for on-cloud data. To protect the corporate data from threats and to prevent the hackers from accessing sensitive information, majority of the organizations are incorporating cloud security systems within their operations.
Key Players
Global cloud security market is dominated by key players such as IBM Corporation (U.S.), Cisco Systems, Inc. (U.S.), Trend Micro Inc. (Japan), Symantec Corporation (U.S.), Microsoft Corporation (U.S.), CA Technologies, Inc. (U.S.), Cloud Passage Company (U.S.), Okta, Inc. (U.S.), Fortinet, Inc. (U.S.), and Intel Corporation (U.S.).
