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Explosive Growth Projected for the Cloud Network Security Market Driven by Evolving Cyber Threats

12-07-2023 08:11 AM CET | IT, New Media & Software

Press release from: Allied Market Research

Explosive Growth Projected for the Cloud Network Security

Cloud network security offers centralized applications and data, which consists of numerous devices and endpoints that can be difficult to manage when dealing with standalone systems. Managing these entities enhances traffic analysis and web filtering. Disaster recovery plans can also implemented easily when they are managed in one place and thus the demand for centralized security is on the rise among organizations.

Cloud network security consists of a set of policies, controls, procedures and technologies that work together to protect cloud-based systems, data, and infrastructure. These security measures are configured to protect cloud data, support regulatory compliance, and protect customer privacy as well as setting authentication rules for individual users and devices. In other words, it is the protection of data stored online via cloud computing platforms from theft, leakage, and deletion. Methods of providing cloud security include firewalls, penetration testing, obfuscation, tokenization, virtual private networks (VPN), and avoiding public internet connections.

Cloud security offers many benefits including centralized security, reduced costs, reduced administration, reliability, and secured data in cloud. In addition, cloud security also provides protection of organization from threats, guarding them against internal threats, and also data loss.

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COVID-19 scenario Analysis:

► The pandemic has created an enormous challenge for businesses worldwide to continue operating despite massive shutdowns of offices and other facilities. Information technology on which businesses are dependent such as data centers, cloud systems, departmental servers, and digital devices are used remotely by employees so the data becomes more vital.

► Officials are depending on digital channels to reassure public and maintain order. They are communicating rapidly evolving rules, sharing critical physiological and psychological health information, and debunking onslaught of rumors, fraud, and misinformation about bogus remedies. They are using these digital channels to urge employers to pay salaries and consumers to avoid hoarding food, medical supplies and personal protective equipment. The growing use of digital channels lead to increase in cyber-attacks, which is expected to boost adoption of cloud network security solutions.

► Surge in communications and wholesale shift to operate businesses online have at the same time increased risk of cyber-attacks by an order of magnitude. They have also introduced a wide range of new risks. Perimeter security of organizations is at risk of being breached. The need for surveillance and real-time risk analysis for breaches at both physical and digital entry points is increasing, which is expected to impact positively on the cloud network security market growth.

► Threat detection and response capabilities must include advanced capabilities supported by next-generation technologies like big data, artificial intelligence and machine learning. These are needed to detect and respond to adverse behavior at machine speed, without human interventions. Rise in use of these advanced technologies is expected to lead to adoption of cloud network security solutions.

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Small and medium scale enterprises are not easily getting ready to transfer their business on cloud platform. As they have trust issues related to terms and conditions of cloud service provider companies. Moreover, they are also less confident about transparency in cloud service and its security. This factor hinders growth of the cloud network security market globally.

Key benefits of the report:

► This study presents the analytical depiction of the global cloud network security market along with the current trends and future estimations to determine the imminent investment pockets.

► The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global cloud network security market share.

► The current cloud network security market is quantitatively analyzed to highlight the global cloud network security market growth scenario.

► Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.

► The report provides detailed cloud network security market analysis based on competitive intensity and how the competition will take shape in coming years.

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Factors such as easy stage implementation, application-based segmentation, product availability, and protection of businesses from threats drive growth of the cloud network security market. Moreover, reduced cost, reduced administration, centralized security, and reliability also boost growth of the market. However lack of bonding and alliance between small scale enterprises and cloud service providers restrain growth of the market. Furthermore internal firewalls for individual applications and databases, strong physical security, and end to end encryption are some of the opportunities expected from this cloud network security market.

Key Market Players:

► Trend Micro Inc.

► Cisco Systems Inc.

► IBM Corp.

► Intel Corp.

► Fortinet Inc.

► Juniper Networks.

► Huawei Technologies Co. Ltd.

► Check point software technologies Ltd.

► Pulse Secure LLC.

► Palo Alto Networks Inc.

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