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Cloud Data Security Market Share, Latest Trends, Growth Status, Top Major Players And Forecast To 2033
Cloud Data Security Market Share
According to The Business Research Company's, The cloud based language learning market size has grown rapidly in recent years. It will grow from $5.41 billion in 2023 to $6.02 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to data breaches, regulatory compliance, increased cloud adoption, security incidents, digital transformation initiatives.
The cloud based language learning market size is expected to see rapid growth in the next few years. It will grow to $9.34 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to IoT expansion, edge computing, ai and machine learning adoption, hybrid and multi-cloud environments, remote workforce trends. Major trends in the forecast period include increased emphasis on zero trust architecture, rise of cloud-native security solutions, integration of security orchestration and automation, enhanced threat intelligence sharing, heightened regulatory scrutiny.
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Market Drivers and Trends:
The rise in cyber data thefts is expected to propel the growth of the cloud data security market going forward. Cyber data theft refers to unauthorized access from digital sources, including personal data such as names, addresses, social security numbers, and financial information. The rise in cyber data theft is due to increased connectivity, proliferation of data, monetary incentives, and globalization. Cloud data security is vital in mitigating cyber data thefts by implementing various measures to protect sensitive information stored in cloud environments and adopting a holistic approach to security, combining technology, processes, and user awareness to effectively protect sensitive data in the cloud. For instance, in December 2021, according to Surfshark, a Netherlands-based virtual private network service company, around 952.8 million accounts were breached in the first 11 months of 2021, compared to 921.8 million breaches in 2020. Therefore, the rise in cyber data theft is driving the growth of the cloud data security market.
Major companies operating in the cloud data security market are developing advanced solutions such as Rubrik Security Cloud to secure data because cyberattacks are increasing in frequency and sophistication. Rubrik security cloud is a comprehensive data security platform that delivers complete cyber resilience with both cyber posture and recovery. For instance, in May 2022, Rubrik Inc., a US-based company, launched Rubrik Security Cloud. This new platform is designed to secure data, monitor data risks, and quickly recover data wherever it lives through a modern, zero-trust architecture powered by machine learning. Additionally, it features automated discovery and global policy-driven workflows, zero-trust security, multi-factor authentication, threat containment, and a data observation engine.
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Major Key Players of the Market:
Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Broadcom Inc., VMware Inc., Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Akamai Technologies Inc., F5 Networks Inc., Splunk Inc., Check Point Software Technologies Ltd., FireEye Inc., Trend Micro Inc., CrowdStrike Holdings Inc., Zscaler Inc., Sangfor Technologies Inc., Cloudflare Inc., Rapid7 Inc., Barracuda Networks Inc., Pulse Secure LLC
Cloud Data Security Market 2024 Key Insights:
• The cloud based language learning market size is expected to see rapid growth in the next few years. It will grow to $9.34 billion in 2028 at a compound annual growth rate (CAGR) of 11.6%.
• Rise In Cyber Data Theft Propels Growth Of Cloud Data Security Market
• Innovative Solutions Drive Cloud Data Security Market Growth
• North America was the largest region in the cloud based language learning market in 2023
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