Japan, Japan, Friday, April 8, 2022 09:36:07 / Comserve Inc. / — Cloud Security Software Market with Top Countries Data, Industry Analysis, Size, Share, Revenue, Players highlights, developing technologies, trends and forecast
The cloud security software market was valued at $29.5 billion in 2019 and is expected to reach a market value of $37.37 billion by 2025, registering a CAGR of 4.98% over the period forecast. The increasing generation of data and the increasing complexity of technologies have resulted in a heavy reliance of organizations on cloud services for data management and operations. This growth in the adoption of cloud services is having a direct impact on the demand for cloud security solutions.
– An increasing number of cloud-related cyber-attacks is the main driving factor for this market. A recent report from cloud security provider Armor suggests that cloud customers suffered 681 million cyberattacks last year. it is a 6.4% increase over the 2017 cost of $3.62 million.
– Migration of on-premises processes to the cloud is a big challenge, as most of the company’s processes, such as billing and CAPEX, are based on subscription-based models. Therefore, even if the company adopts powerful cloud security solutions, some of the processes cannot be protected.
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Scope of the Report
The cloud industry has seen rapid growth in adoption over the last decade by technology-based companies. This trend is also followed by other industries such as BFSI and Healthcare, as they realize the advantages offered by cloud systems. This is creating an environment where cloud services act as the backbone of many business operations.
Key market trends
Intrusion detection and prevention to record significant growth
– Intrusion detection and prevention software (IDPS) monitors network traffic for signs of a possible attack. When it detects potentially dangerous activity, it takes action to stop the attack. This often takes the form of dropping malicious packets, blocking network traffic, or resetting connections. IDPS also typically sends an alert to security administrators about potential malicious activity.
– The two main contributors to the successful implementation and operation of an IDS or IPS are the implemented signatures and the network traffic that flows through them.
– According to the 2018 Insider Threat report, the majority of insider exploits are detected through IDPS. This indicates the popularity of IDPS and why most providers offer this service.
Asia-Pacific will witness the highest growth
– In Asia-Pacific, great strides are being made in the digital economy. But it is also generating more opportunities related to threats. According to Cisco, businesses receive 6 threats every minute in APAC and 51% of all cyber attacks resulted in a loss of over USD$1 million
– In addition to financial losses, cybersecurity incidents are also undermining the ability of Asia Pacific organizations to earn the trust of their consumers and other stakeholders.
– Major companies are establishing their presence in APAC, for example, Google expanded the number of Google Cloud Platform regions in APAC from three to six in 2018.
– To preserve the authenticity of data generated by any industry (for example, customer purchase data for personalization in retail), moving towards the cloud and therefore its security is of paramount importance.
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The cloud security software market is fragmented due to the increase in cyber attacks over the years. Companies have become more aware and careful about their data stored in the cloud and are therefore taking advantage of offerings from companies like CA Technologies, McAfee and RSA Security for cloud protection.
– April 2019: Trend Micro announced enhancements to its Deep Security and Cloud App Security products designed to extend protection to virtual machines on Google Cloud Platform, Kubernetes platform protection, container image scanning integration with Google Kubernetes Engine (GKE) and Gmail on the G Suite.
– April 2019: McAfee announced support for Google Cloud Platform (GCP) Cloud Security Command Center (Cloud SCC). McAfee MVISION Cloud now integrates with GCP Cloud SCC to help security professionals gain visibility and control over their cloud resources and detect and respond to threats.
– March 2019 – RSA introduced the latest version of its market-leading SIEM, the RSA NetWitness Platform, featuring machine learning models based on deep endpoint observations to rapidly detect anomalies in user behavior to uncover threats evolving.
1.1 Study Deliverables
1.2 Assumptions of the study
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to market drivers and restraints
4.3 Market Drivers
4.3.1 Increasing number of cloud-related cyber-attacks is increasing market growth
4.4 Market restrictions
4.4.1 Migrating processes from on-premises to the cloud is a major challenge
4.5 Value chain analysis
4.6 Industry Attractiveness: Porter’s Five Forces Analysis
4.6.1 Threat of new entrants
4.6.2 Bargaining power of buyers/consumers
4.6.3 Bargaining power of suppliers
4.6.4 Threat of substitute products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
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The charge Cloud Security Software Market Current Trends, Segmentation, Key Players and Analysis Forecast 2022-2031 first appeared in Comserveonline.