The global cloud security market size is expected to reach
USD 12.63 billion by 2024, according to a new report by Grand View Research,
Inc., progressing at a CAGR of 13.9% during the forecast period. Growing number
of targeted cyberattacks and increasing investments in cloud infrastructure are
anticipated to trigger the growth of the market.
Burgeoning popularity of cloud
infrastructure owing to its benefits such as on-demand services, scalability,
flexibility, and cost effectiveness. In addition to tussle between public and
private cloud, emergence of hybrid cloud has given cloud users numerous
platforms and frameworks to choose from. As adoption of cloud is reaching new
levels, security issues concerning cloud users and vendors are also gradually
mushrooming.
Emphasized by data breaches in recent
years and increasing threat of cybercrime and targeted attacks, the demand for
cloud security solutions is estimated to increase over the forecast period. The
market is also projected to witness significant efforts by industry
participants for creation of regulations and compliance laws owing to growing
need for industry-wide standards. Demand for security services and policy
implementation is also expected to increase, in turn driving the overall cloud
security market.
Dynamic nature of the industry may
result in an increasing adoption of open source platforms. In addition,
versatility of data and diverse threat vectors will lead to
security-as-a-service offerings and managed security service providers gaining
traction in the market. Sharing of responsibility between cloud service
providers (CSPs) and cloud end users for security and data protection will have
a positive impact on the industry. Furthermore, technologies such as
virtualization and convergence and initiatives such as computer emergency
readiness teams (CERTs) are likely to help in implementing security at
different levels of cloud infrastructure.
Increasing sophistication of hacking
techniques and technological advancements in cyberespionage are poised to unleash
new generation of attacks such as advanced persistent threats (APTs),
ransomware, malicious insider, distributed denial of service (DDoS), and zero
day threats. As a result, industry wide collaborations and partnerships to
tackle emerging threats are estimated to shape the future of the market.
Browse full research report on Cloud Security Market: https://www.grandviewresearch.com/industry-analysis/cloud-security-market
Further Key Findings from the Report Suggest:
- Polymorphic, self-mutating codes, and evasion techniques have
made the traditional security technologies and endpoint protection
mechanisms obsolete
- Recent years have witnessed numerous high level data breaches
such as attacks on Home Depot, Anthem, Ashley Madison and even security
providers such as Kaspersky Labs.
- North America held the largest share in terms of revenue in
2016 owing to increasing awareness regarding threat of cyberattacks and
corporate espionages.
- Numerous countries and regions such as the European Union are
adopting specific cyber laws and regulations to protect data and
information. For example, Germany is opting for greater data privacy,
whereas other countries such as U.S. and France are striving for greater
visibility in internet traffic.
- Numerous industry specific regulations such as Health
Insurance Portability and Accountability Act of 1996 (HIPPA) for
healthcare, Payment Card Industry Data Security Standard (PCI DSS) for
financial sector as well as international laws including Safe Harbor Act
and European Union Data Protection Directive are anticipated to play a
vital role in the development of the market.
- Key industry players such as CA Technologies, TrendMicro,
Symantec Corp., Intel Corp. and IBM Corp. are focusing on technological
alliances, partnerships, and collaborations with other industry players to
maintain market competencies.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/cloud-security-market/request/rs1
Grand View Research has segmented the global cloud security market
report on the basis of application, company size, solution, deployment, and
region:
Cloud Security Application Outlook (Revenue, USD Million, 2014 -
2024)
- Financial
Services
- IT
& telecom
- Government
- Education
- Healthcare
- Media
& Entertainment
- Others
Cloud Security Company Size Outlook (Revenue, USD Million, 2014 -
2024)
- Small&
Medium Enterprises
- Large
Enterprises
Cloud Security Solution Outlook (Revenue, USD Million, 2014 -
2024)
- Cloud
IAM
- Cloud
Email Security
- Cloud
IDS/IPS
- Cloud
DLP
Cloud Security Deployment Outlook (Revenue, USD Million, 2014 -
2024)
- Public
- Private
- Hybrid
Cloud Security Regional Outlook (Revenue, USD Million, 2014 -
2024)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Asia
Pacific
- China
- India
- Japan
- South
America
- Brazil
- Middle
East & Africa
- K.S.A
- U.A.E
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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