Cloud Workload Protection Market is Expected to Showcase Rampant Growth Over 2032

Market Research Future has Published a Half-Cooked Research Report on the Global Cloud Workload Protection Market.

Market Overview

According to Market Research Future, the global cloud workload protection market has been segmented based on component, organization size, deployment, vertical, and region/country.

The Cloud Workload Protection market industry is projected to grow from USD 6.7045 Billion in 2023 to USD 32.68857887 Billion by 2032

Cloud workload protection offers visibility and security control management across multiple cloud environments from a single console. The cloud workload protection platform offers various services such as risk reduction, threat and vulnerability management, integrity monitoring, unique security for public and hybrid cloud environments, and cost savings for the organization. The major factor boosting the growth of the cloud workload protection market is the rapidly increasing need for security for public cloud workloads. The cloud workload protection platform and services are beneficial as they secure the enterprise’s cloud platforms against cyber attacks or threats, reduce risk, and save costs. Along with this, the increasing adoption of multi-cloud strategy among enterprises is another reason accelerating the market growth. The increasing adoption of cloud-based services and rapid digital transformation among enterprises in major economies, along with high demand especially from the BFSI vertical can pose lucrative opportunities for cloud workload protection providers in the market. The multiple regulatory compliance issues are a matter of concern and act as a restraint to this market.

By component, the global cloud workload protection market has been divided into solutions and services. The solutions segment has been categorized into vulnerability assessment, monitoring and logging, policy and compliance management, threat detection and incident response, and others. Encryption, key management, and tokenization are a part of the other segment. The services segment has been categorized into support and maintenance, training, consulting, integration, and managed services. The monitoring and logging segment is expected to have the largest market share among all the solutions in 2018. This is because the monitoring and logging solutions have centralized visibility and control over high-volume cloud workloads, and the demand for it is high.

On the basis of organization size, the market has been segmented into large enterprises and small- and medium-sized enterprises (SMEs). The large enterprises segment is expected to have a larger market size during the review period whereas, SMEs are expected to grow with higher CAGR.

By deployment model, the global cloud workload protection market has been divided into public cloud, private cloud, and hybrid cloud. The hybrid cloud segment is expected to grow with higher CAGR during the forecast period and the public cloud segment had the largest share in 2018.

On the basis of vertical, the global cloud workload protection market has been divided into IT and telecommunication, banking, financial services, and insurance (BFSI), government and public sector, healthcare and life sciences, energy and utilities, media and entertainment, retail and consumer goods, manufacturing and others. The IT and telecom and BFSI verticals are expected to grow with the higher CAGRs as compared to the other verticals during the forecast period.

By region, the global cloud workload protection market has been segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.

Key Players

The key players in the global cloud workload protection market are CLOUDPASSAGE (US), DOME9 SECURITY INC. (Israel), HYTRUST, INC. (US), LogRhythm, Inc. (US), Tripwire (US), Trend Micro Incorporated (Japan), McAfee, Inc. (US), Symantec Corporation (US), Sophos Ltd. (UK), Guardicore (Israel), Kaspersky (Russia), Google (US), Qualys, Inc. (US), Nutanix (US) and Akamai Technologies (US).

Regional Analysis

The global cloud workload protection market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to be the largest market due to the growing number of cyber-attacks and the high financial losses associated with it.