Global Cloud Application Security and Vulnerability Management Market Set to Surge to USD 9.8 Billion by 2032, Driven by Rising Cyber Attacks and IoT Integration

Global Cloud Application Security and Vulnerability Management market, which was worth USD 3 Billion in 2023, is anticipated to balloon up to USD 9.8 Billion by 2032, soaring at a CAGR of 14.2% during the period of 2024-2032. The rising prevalence of cyber attacks and burdensome regulatory requirements for data security are the key driving forces for this market's growth.

An upswing in the incorporation of Internet of Things (IoT) devices into cloud platforms is expected to fuel the growth of the market within the forecast period. The increasing tendency to integrate IoT devices with cloud infrastructures necessitates the deployment of state-of-the-art security solutions to administer the colossal amount of data produced and stored, thereby enhancing vulnerability management frameworks.

There is a growing demand in the market for inventive product offerings from manufacturers that ensure stringent security for IoT and cloud systems, demonstrating a further push in the market's growth trajectory. Government initiatives encourage smart city concepts and industrial automation, which require strict data security measures in place. These governmental attempts to digitize and secure urban and industrial spaces accentuate the need for robust cloud application security systems and advanced vulnerability management mechanisms.

Emerging trends and dynamics in the global cloud application security and vulnerability management market depict a promising future for manufacturers and service providers working in the domain. Gearing up to the rising threats of cyber attacks and data protection needs, the global market is set to evolve and expand profusely in the coming years

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𝐓𝐡𝐢𝐬 𝐢𝐬 𝐨𝐧𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐜𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐬:

The 𝐂𝐥𝐨𝐮𝐝 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐚𝐧𝐝 𝐕𝐮𝐥𝐧𝐞𝐫𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 has been segmented on the basis of𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭
● Software/Platform
● Services

𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧
● Cloud Application Security ○ Identity & Access Management
○ Secure Web Gateways
○ Cloud Access Security Brokers
○ Data Loss Prevention

● Vulnerability Management ○ Vulnerability Assessments
○ Threat Intelligence
○ Penetration Testing
○ Patch Management

𝐒𝐞𝐫𝐯𝐢𝐜𝐞
● Professional Services
● Managed Services

𝐎𝐫𝐠𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐒𝐢𝐳𝐞
● SMEs
● Large Enterprises

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥
● BFSI
● IT & Telecom
● Healthcare
● Retail & e-Commerce
● Government
● Manufacturing
● Media & Entertainment
● Energy & Utility
● Others

𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭 𝐌𝐨𝐝𝐞𝐥
● Public Cloud
● Private Cloud
● Hybrid Cloud

𝐑𝐞𝐠𝐢𝐨𝐧
● Asia Pacific
● North America
● Latin America
● Europe
● Middle East & Africa

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
● Broadcom, Inc.
● Check Point Software Technologies Ltd.
● Cisco System Inc.
● Dell Inc.
● 𝐅-𝐒𝐞𝐜𝐮𝐫𝐞
● Hewlett Packard Enterprise Development LP
● IBM Corporation
● Kenna Security
● 𝐌𝐜𝐀𝐟𝐞𝐞, 𝐋𝐋𝐂
● Micro Focus
● Microsoft
● NopSec.com, Inc.
● Qualys, Inc.
● Rapid7
● RiskIQ, Inc.
● RiskSense, Inc.
● Skybox Security, Inc.
● Tenable, Inc.
● Trend Micro Inc.
● ZeroNorth A/S

The Cloud Application Security and Vulnerability Management Market is divided based on various aspects. When it comes to the component, the market is bifurcated into software/platform and services. Under the solution critique, cloud application security takes into account identity & access management, secure web gateways, cloud access security brokers, and data loss prevention. On the other hand, vulnerability management comprises vulnerability assessments, threat intelligence, penetration testing, and patch management. The market is also segmented based on service into professional and managed services. By organization size, small and medium enterprises (SMEs) or large enterprises adopt these tools according to their business needs. The market is further segregated based on industry verticals like BFSI, IT & Telecom, Healthcare, Retail & e-Commerce, Government, Manufacturing, Media & Entertainment, Energy & Utility among others. The types of deployment models used for these applications are also categorized into public cloud, private cloud, and hybrid cloud.

Taking a look from the regional perspective, the market is analyzed in various geographies such as Asia Pacific, North America, Latin America, Europe, Middle East & Africa based on their market share and growth rate. North America is anticipated to hold a significant market share due to the presence of a large number of cloud application security solution providers and early adoption of technology in multiple sectors. However, the Asia Pacific is expected to grow at a rapid rate as businesses in this region are increasingly adopting cloud solutions and services to manage and secure their business operations. The key players influencing the cloud application security and vulnerability management market include Broadcom, Inc., Check Point Software Technologies Ltd., Cisco System Inc., Dell Inc., F-Secure, Hewlett Packard Enterprise Development LP, IBM Corporation, Kenna Security, McAfee, LLC, Micro Focus, Microsoft, NopSec.com, Inc., Qualys, Inc., Rapid7, RiskIQ, Inc., RiskSense, Inc., Skybox Security, Inc., Tenable, Inc., Trend Micro Inc., and ZeroNorth A/S, amongst others

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://dataintelo.com/request-sample/482960

Market Drivers for Cloud Application Security and Vulnerability Management Market:

1. Increasing Cloud Adoption: Organizations are increasingly leveraging cloud solutions for storage and application services, driving the need for improved cloud application security and vulnerability management.

2. Regulatory Compliance: Various government regulations and compliance standards such as GDPR, ISO 27001, and HIPAA necessitate businesses to enhance their security frame, leading to higher demand for vulnerability management solutions and services.

3. Rise in Cyber Threats: The continuous rise in cyber-attacks, data breaches, and hacking activities is expected to be a major market driver.

4. Digital Transformation: As more companies undergo digital transformation, they require secure and efficient cloud solutions - thus increasing demand for cloud application security and vulnerability management.

5. Remote Work Culture: The shift towards remote working arrangements due to the COVID-19 pandemic has created a greater need for secure and scalable cloud applications.

Market Opportunities for Cloud Application Security and Vulnerability Management Market:

1. Growing SMEs: Small and medium enterprises (SMEs) are expecting high growth and they are moving towards cloud adoption. Providing cost-effective cloud application security services can be a huge opportunity.

2. Integration of AI and Machine Learning: The integration of AI and machine learning algorithms can greatly enhance threat detection and response capabilities. Companies that offer these advanced technologies can gain a significant edge in the market.

3. IoT-enabled Devices: With the proliferation of IoT-enabled devices, the sheer volume of data being generated necessitates effective management and security solutions, opening up new opportunities.

4. Demand in Emerging Markets: Emerging markets like Asia-Pacific (APAC) region provides significant opportunities due to their increasing internet penetration and awareness about cyber threats.

5. Managed Security Services: There's growing preference for third-party managed security services. This presents a significant opportunity for cloud application and vulnerability management vendors to offer managed services

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