Cloud Security Market Expected to Grow at CAGR 17% and Forecast to 2022 | Cisco Systems, IBM, Trend Micro, CA Technologies, Microsoft, Okta, Fortinet

Global Cloud Security Market – Overview

The global cloud security market is demonstrating an exponential growth rate currently. Market Research Future, a firm which specializes in market reports related to the semiconductor & electronics technology sector among others, published in its recent report on Global Cloud Security Market Research Report- Forecast to 2022 that market is expected to grow from USD 5 Billion in 2016 to USD 13 billion by 2022, at an estimated CAGR of 17%. Cloud security broadly encompasses the technologies and policies deployed to provide protection to apps, data and cloud computing related infrastructure that are important contributors to demand of this sector.

Since many businesses and personal users have moved to cloud computing to harness the benefits of remote working and other related features the market size has grown significantly. Positive shift in attitude towards implementation of cloud computing also has been a positive indicator for the growth of the global Cloud Security Market. Cloud security is more effective than those employed for local storage and this is one of the main factors for the increased demand levels for the global cloud security market. Upsurge in internet of things concept which has spread in popularity in various segments has been one of the pivotal factors that is advancing the global cloud security market. Increase in demand for cloud computing has also favorably contributed to the growth of the sector.

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Security breaches in cloud computing have prompted increased development in R&D and growth of diverse products to suit several requirements. Demand for this sector is heavily derived from government agencies, ecommerce, healthcare industries etc. as their functions gradually move on to cloud computing. BYOD devices are also steadily providing the required push to the growth of the market.

Regional Analysis:

Regionally, North America is expected to dominate the cloud security market with the existence of large organizations that possess very huge database. The need of safety & security solutions to secure the huge existing database of the organizations is contributing to the growth of cloud security market in the region. The European region has highly developed network infrastructure. The growing healthcare industry in the region is demanding for security over cloud technology thereby driving the cloud security market. The Asia pacific region is promoting the concept of bring your own device to the company premises which is increasing the threat of cyber-attacks for data on-cloud., To save the corporate data from unauthorized access and treats of cyber-attacks more and more companies are establishing the cloud security systems.

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.)
• Fortinet, Inc. (U.S.)

Segments:

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.

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Intended Audience

• Government agencies
• Cloud service providers
• Third party vendors
• System integrators
• Cloud facilitators
• End users

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This release was published on openPR.