The “Cloud Security Market with COVID-19 Analysis by Security Type, Application (Visibility and Risk Assessment, User and Data Governance), Service Model, Organization Size, Vertical (BFSI, IT and ITeS, Retail) and Region – Global Forecast to 2026″ report has been added to ResearchAndMarkets.com’s offering.
The global cloud security market size is expected to grow from USD 40.8 billion in 2021 to USD 77.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.7% from 2021 to 2026.
An increasing number of security breaches and cyberattacks and mandate to follow regulatory and data protection laws have contributed to the growth of the cloud security market ecosystem.
By service model, the SaaS segment expected to hold a larger market size in 2021
Organizations are migrating their infrastructure to cloud due to its lower hardware cost and features, such as agility, scalability, speed, and cost-efficiency. In the cloud deployment mode, a service provider hosts the entire infrastructure and its capabilities, which are provided to organizations on a need-basis and can scale up when required.
Microsoft Office 365, Salesforce.com, Cisco Webex, and Adobe Creative Cloud are some of the popular SaaS application vendors in the market. With the proliferation of cloud collaboration tools amid the pandemic, the SaaS businesses are expecting growth as they these solutions are easier- to- deploy, manage, and support virtually on the cloud.
APAC to register the highest growth rate during the forecast period
Asia Pacific (APAC) comprises of emerging economies, such as Australia, South Korea, and Japan, with developed security infrastructure. Machine Learning (ML), Internet of Things (IoT), big data analytics, and Artificial Intelligence (AI) are emerging methodologies that are being deployed in this region.
APAC is home to large number of established Small and Medium-sized Enterprises (SMEs), which are growing at laudable pace to cater to their large customer base. SMEs are rapidly adopting cloud-based solutions to manage their enterprise data. Despite the growing importance of SMEs in this region, they are most affected mostly by cyber and malware attacks owing to budgetary constraints and resource shortages.
The cloud security market study includes an in-depth competitive analysis of these key players, along with their profiles, recent developments, and key market strategies.
- Increasing Instances of Phishing Attacks and Spams to Drive the Demand for Cloud Security Solutions
- IT and ITES Industry Vertical and North America to Hold the Highest Market Shares in 2020
- Network Security Segment Dominated the Market in 2021
- User and Data Governance Segment to Grow at the Highest CAGR During the Forecast Period
- Asia-Pacific to Emerge as the Best Market for Investments in the Next Five Years
- Growing Sophistication of Cybercrimes, Cyber Espionage Campaigns, and Generation of New Cyberattacks
- Upthrust in the Use of Cloud-Based Solutions and MSS
- Upsurge in BYOD and CYOD Trends to Boost the Demand for Cloud Security
- Distrust and Weak Collaboration Among Enterprises and Cloud Security Service Providers
- Increasing Government Initiatives to Support Smart Infrastructure Projects
- Securing Online Payment Applications, Social Media, and Os
- Lack of Awareness Among Enterprises and Consumers due to the Complexities of Cloud Computing Models
- COVID-19 Pandemic-Driven Market Dynamics and Factor Analysis
- Use Case: Cloud Security for It and Ites Vendor Onelink
- Use Case: Cloud Security for Mercedes Amg
- Use Case: Cloud Security for Qlik
Patent Analysis: Top Applicants for Cloud Security Related Patents
- Payment Services Directive 2
- Electronic Identification, Authentication, and Trust Services
- Anti-Money Laundering
- General Data Protection Regulation
- Federal Information Processing Standards
- Payment Card Industry-Data Security Standard (Pci-Dss)
- Health Insurance Portability and Accountability Act (Hipaa)
- Amazon Web Services
- Check Point
- Palo Alto Networks
- Trend Micro
- Aqua Security
- Bitglass (Forcepoint)
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybersecurity, go to AI-Techpark.com.