Cloud Security Market is Estimated to Grow at a CAGR of 17% from 2016 to 2022

Pune, India, February 20, 2017 /MRFR Press Release/- Market Research Future published a half cooked research report on Cloud Security Market.

Market Highlights

Cloud Security Market is expected to grow at CAGR of ~17% during the forecast period and expected to reach market size of USD ~13 billion by the end of forecast period.  The Cloud Security Market is growing with its capability of costs saving for businesses, incurred for purchase of software and its license for individual employees. The Cloud Security Market is gaining importance with the increasing use of the internet of things devices which enables connectivity in vehicles and buildings for collection and exchange of data. The increasing cyber-attacks at the business place, government institutes and educational institutes are also driving the Cloud Security Market.

With the increasing number of mobile devices at the workplace¸ there is a need to provide private access to information to a large number of employees. This connectivity of personal mobile phones at workplace for accessing the confidential data requires higher security of data on cloud. So, the concept of bring your own device at the workplace is contributing to the growth of Cloud Security Market. Cloud security is also helpful in minimizing the business risks caused by use of e-mails and web at the workplace such as hacking of devices at workplace and availing the confidential data of any business.  The companies are concerned to prevent their business data and personal data of employees from loss or from threat of cyber-attack and therefore in need to adopt security solutions for the company.  The increasing need of cyber security among various industries such as healthcare, retail, IT & telecom and others to prevent their data from losses and securing their e-mail is driving the Cloud Security Market.

Cloud Security Market

The Global Cloud Security Market has been segmented on the basis of deployment, types, end users and application. The deployment can be segmented as public, private and hybrid among others. Types include virtualization security, network security, cloud database security, e-mail & web security and data loss prevention among others. Industry includes small and medium enterprises and large enterprises among others. End-users comprises of retail, healthcare, IT & telecom, BFSI and government utility among others.

Key Players: The prominent players in the market of Cloud Security Market  are – Cisco Systems, Inc. (U.S.), International Business Machines Corporation (U.S.), Symantec Corporation (U.S.), Trend Micro Inc. (Japan), CA Technologies (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.

Market Research Analysis:

Market Research Future Analysis shows that the virtualization security is the most useful type of cloud security. Virtualization security is a characteristic of cloud which helps to hide the technological complexities from the user and enables flexibility of cloud according to the need of end user enterprises. The virtualization security in not a compulsory component of the cloud security system, however, if it is implemented by organizations it supports effective and efficient utilization of cloud security system. Virtualization permits the cloud user to run multiple operating systems on the same hardware platform. This makes it cost effective as it provides dedicated operating system to services.  

Geographically, North America is expected to dominate the Cloud Security Market as it has highly trained professionals with strong technical knowledge to work on cloud computing and dealing with the security issues concerned with the employment of on-cloud database. The cloud security is gaining importance in Europe region with the deployment of unsafe cloud communication technologies in the region. An unsafe cloud communication technology generate more risk for the database of the company, and generates need for company to adopt the cloud security services. In Asia pacific region, the organizations are deploying private cloud solutions for the storage of their confidential data. This increased use of private cloud solutions is driving the need for cloud security in the region.