the cloud security market size is rated at $34.5 billion in 2020 and is expected to register a CAGR of 14.3% over the forecast period (2021-2027). Cloud security is one of the important aspects taken into consideration by every company that has moved its business to the cloud. Most of the organizations are using multiple cloud servers and looking for a unified way to secure them, which will drive the growth of the cloud security market. Many companies use CASB software that integrates cloud service users and cloud applications to monitor activity and enforce security policies.
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Factors affecting the cloud security industry during the forecast period
Growing sophistication in cyber espionage, cyber crimes and new cyber attacks are the key factors driving the growth of the cloud security market. Additionally, increasing data leaks and data breaches in enterprises is creating demand for cloud security and is expected to accelerate the growth of cloud security market.
Due to trust issues, businesses big and small are hesitant to move all their data to the cloud. This factor is estimated to hinder the growth of the cloud security market. Additionally, increasing number of government initiatives to support smart city projects is investing in cloud computing technology, which is increasing the demand for cloud security and fueling the growth of the global market.
covid–19 Global Cloud Security Market Impact
The impact of the COVID-19 pandemic on the cloud security market has been relatively mild compared to other sectors. Since all government and regulatory authorities have mentioned to public and private organizations to work remotely and maintain social distancing, digital commerce has increased. On the other hand, internet penetration in every corner of the world has also increased exponentially. This translates to growing cloud security in the later stages of lockdown to provide security against malicious attackers and hackers.
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Scope of the cloud security market
The report outlines the Global Cloud Security Market study based on service, security type, application, and region..
By Service Outlook (Sales/Revenue, USD millions, 2017–2027)
By Outlook security type (Sales/Revenue, USD million, 2017–2027)
- Perimeter security
- internet security
- Endpoint security
- Application Security
By Outlook app (Sales/Revenue, USD million, 2017–2027)
- Visibility and risk assessment
- User and data governance
- Activity monitoring and analysis
- Threat Protection and Remediation
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Outlook by region (Sales/Revenue, USD millions, 2017–2027)
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
Cloud Security Market Regional Outlook
The global cloud security market has been segmented into five geographical regions: North America, Asia-Pacific, South America, Europe, and Middle East and Africa (MEA). North America, followed by Europe and Asia-Pacific holds the largest share in the global cloud security market, owing to the high adoption of IT security services. Additionally, Asia-Pacific is the fastest growing global cloud security market.
Main market players
The global cloud security market is quite fragmented, with the presence of a large number of smaller players across the globe. Leading Cloud Security Manufacturers operating in the global market are–
- Trend Micro
- Amazon Web Services
- point of strength
- Palo Alto Networks
The Cloud Security Market report provides an in-depth analysis of macroeconomic factors and market attractiveness of each segment. The report will include an in-depth qualitative and quantitative assessment of the industry/regional outlook with the presence of market players in the respective segment and region/country. The information concluded in the report includes inputs from the primary interviews.
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Cloud Security Market Target Audience
- Cloud encryption providers
- Network Solution Providers
- Advocacy organizations
- Government agencies
- Cybersecurity providers
- Cloud Security Providers
- System integrators