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Cloud Security Market Global Development, Demand, Growth Analysis, Key Findings and Forecast to 2022

Market Synopsis of Global Cloud Security Market:

The Global Cloud Security Market is expected to grow from USD 5 Billion in 2016 to USD ~ 13 billion by 2022, at an estimated CAGR of 17%. The lack of awareness about cloud security among the small and medium organizations and fear in the organizations of losing their data confidentiality are among some factors restraining the market growth.

Cloud Security Market is the security of organizational data which is saved on cloud from cyber threats. The cloud security helps in maintaining the confidential data and also facilitates prevention of unauthorized access to employees and other external stakeholders. The companies are having their millions and trillions of data which needs to be saved for the analysis of their customers and the market. The protection of this data which is saved on the cloud can be effectively done by using the cloud security.

The major driver for the growth of this market is growing cyber-attacks on the cloud. The growth in usage of cloud services for data storage of the confidential and private data of an organization and the rise in employee mobility are also expected to drive the Global Cloud Security Market.  The other factor contributing to the growth of this market are the emerging trend of bring your own device to the office premises.  The growth of online market will also drive the growth of the Global Cloud Security Market. The IT & telecom sector is contributing the highest to the growth of cloud security market.  The IT businesses are adopting the cloud services for transferring huge amount of data. There is rapid adoption of internet on smartphones which access data on cloud. To secure this data which is transferred by the IT and telecom sector, there is increased need of cloud security. This contributes to the growth of cloud security market.

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Key Players:

Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Symantec Corporation (U.S.), Trend Micro Inc. (Japan), CA Technologies, Inc. (U.S.), Microsoft Corporation (U.S.), Okta, Inc. (U.S.), Cloud Passage Company (U.S.), Intel Corporation(U.S.) and Fortinet, Inc. (U.S.) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global Cloud Security market.

Cloud Security Global Market   – Segmentation

Segmentation by Deployment: Public, private and hybrid

Segmentation by Types: Virtualization security, network security, cloud database security, e-mail & web security and data loss prevention among others

Segmentation by Industry: Small and medium enterprises and large enterprises

Segmentation by End Users: Retail, healthcare, IT & telecom, BFSI and government utility among others

Cloud Security Global Market   – Regional Analysis

Cloud Security Market is growing with the positive growth in all the regions. North America is dominating the market due to rich presence of manufacturing companies in U.S and Canada.  The region is also one of the prominent leaders in IT industry and one of the largest suppliers of technology around the world. Europe stands as second largest market for cloud security. Growing industrialization and high adoption of cloud computing in BFIS and manufacturing industry in European countries are some of the major driving factor. Also, many companies are also setting up their data centers in Europe due to the favourable regulations in the countries. Asia Pacific region stands as third largest market due to rich presence of manufacturing companies in China, India, Japan, Taiwan and South Korea. Also, developing economy of China and India is also supporting the market of cloud security in Asia Pacific region.

Industry News

December 2017, Symantec Selects Amazon Web Services for Cloud Security. Amazon Web Services, Inc., an Amazon.com company, has been chosen by Symantec as its strategic infrastructure provider for the vast majority of its cloud workloads. This new partnership will leverage AWS’s infrastructure scale and maturity to deliver cloud security to its global customers. With AWS’s breadth and depth of cloud capabilities, Symantec has transformed legacy applications into cloud-based solutions, and built innovative, cloud-native. Symantec also brings hybrid offerings to AWS. Symantec’s relationship with AWS will be long-term and bi-directional. The security company not only is making a major operational move to AWS, but also tapping the global footprint of the AWS Marketplace to deliver its security services. The company built a data lake on AWS that collects tens of terabytes of data every day from 175 million endpoints and more than 57 million attack sensors.

December 2017, The Armor Guardian Partner Program announced today six additional partners, increasing its international presence and channel partners that hold a number of Amazon Web Services (AWS) and Microsoft partner competencies. Armor, a cloud security service provider, offers a community-powered approach to security with the industry’s first threat prevention and response platform, Spartan, designed for private, hybrid and public cloud environments including AWS and Azure.

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November 2017, Aporeto launches security solution for hybrid and multi-cloud applications. Aporeto announced the launch of the first Zero Trust Security solution for the enterprise based on finely-tuned application identity, context and intent. The solution continuously monitors and protects applications, by replacing network security based approaches with a radically simple identity and authorization system. Aporeto’s security is decoupled from the infrastructure and network; the solution transparently binds to applications to provide them with identity and protect them according to their context and operations intent using end-to-end cryptographic techniques. This approach is underpinned by the “zero trust” principle that assumes that any part of the infrastructure can be compromised at any given time. In contrast, the common approaches of security products are to provide static, infrastructure-dependent protection that must constantly be reconfigured to address application needs.

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