Cloud Security Market - Flexibility and Less Time Consumption to Boost Demand for Hybrid Cloud Security Service

The competitive landscape of the global cloud security market is likely to become more intense over the coming years, owing to the increasing demand for cloud computing solutions and the entrance of new players due to surmountable entry barriers. According to a research report released by Transparency Market Research, the leading players in the global cloud security market – including Symantec Corporation, Intel Security Group, and CA Technologies, Inc. – are consolidating their position by expanding their roles and offerings.

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According to the TMR report, the leading players in the global cloud security market are also focusing on inorganic growth through mergers and acquisitions. The larger players in the market take up assets and roles of the smaller ones in order to expand their own offerings and business scope across a wider geographic presence. Trustwave Holding, Inc., for example, offers a host of cloud security services such as network access, web, SIEM, email, and encryption software. Trustwave Inc. acquired Cenzic, Inc., in 2014 in an attempt to solidify its cloud security business. In April 2015, the company acquired Singapore Telecommunications Limited (Singtel) to boost its business and expand market share of the company in the cloud security market over the coming years.

The cloud security market is expected to reach US$11.8 bn by the end of 2022. It is expanding at a brilliant CAGR of 12.80% within a forecast period from 2015 to 2022, after being calculated at US$4.5 bn in 2014.

North America Dominates Global Cloud Security Demand and Revenue Pools

North America was the leading region in the global cloud security market for 2014, a factor attributed to the large scale and early adoption of cloud services by industries in this region. It is likely for North America to remain a fruitful location for players of all sizes in the global cloud security market, while Asia Pacific shows a significant spike in demand for these services. The gain in demand for cloud security services in APAC is extremely likely to continue surging over the coming years.

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The IT and telecom industries have been the key industries making use of cloud security services in a large scale, and will continue doing so over the coming years. Data loss prevention was found to be the leading segment in the global cloud security market on the basis of service type, in 2014.

“The IT and telecom industries and their associated enterprises are swiftly adopting cloud platforms for all sorts of functions and processes. The advantages of using cloud computing far outweigh the negatives and risks of it as far as small and medium sized businesses are concerned, but that does not allow cloud service providers to be lax on security measures. To counter the growth issues of loss of data integrity and data theft, data security providers are stepping up to the plate. The need for cloud security today is being compounded by the growing demand for flexible operations as well as the massively popular bring-your-own-device culture,” states a TMR analyst.
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Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

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This release was published on openPR.