With a CAGR of 18.1%, the size of the cloud security market [2022-2029] for

With a CAGR of 18.1%, the size of the cloud security market [2022-2029] for

Pune, India, April 11, 2022 (GLOBE NEWSWIRE) — The cloud security market The size was USD 29.26 billion in 2021. The market is forecast to grow from USD 33.13 billion in 2022 to $106.02 billion in 2029 at a CAGR of 18.1% over the period 2022-2029. This vital information is presented by Fortune Business Insights™, in their report, titled, cloud security Market share2022-2029.” Factors like the growing adoption of managed container services coupled with an ongoing crypto-jacking trend will increase the market footprint during the forecast period. In addition, the increasing adoption of cloud computing applications and services will drive the growth of the market.

Industry Development

  • July 2020: Fortinet Inc. announced the release of its latest Fortinet Secure SD-WAN Multi-Cloud security solution to integrate the company’s existing Secure SD-WAN Cloud On-Ramp capabilities. This announcement will help business owners establish a secure connection to a variety of cloud solutions and applications.

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Cloud Security Market Trend Report Scope:

Report Coverage Details
forecast period 2022-2029
Forecast period 2022 to 2029 CAGR 18.1%
2029 value projection $106.02 billion
base year 2021
Market size in 2021 $29.26 billion
Historical data for 2018-2020
Number of pages 160
Covered segments Security Type, Company Size, End User, and Region
Cloud Security Market Growth Drivers Increasing adoption of cloud computing solutions and applications to increase market growth
Budget and data privacy will be significant market barriers

Drivers and Restrictions

Increasing adoption of cloud computing solutions and applications to increase market growth

Factors such as the increasing implementation of cloud computing towards data monitoring solutions, coupled with the increasing demand for mass storage applications, will drive the growth of the cloud security market during the forecast period. Furthermore, the growing adoption of managed container services and solutions, coupled with the rise in cyber attacks, will increase the market footprint. Furthermore, a continued trend of crypto-jacking will drive market growth towards an extended cap.

However, budget and data privacy measures will limit market growth during the forecast period.

To learn more about the short-term and long-term impact of COVID-19 on this cloud security market,

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segments

Based on the type of security, the market can be divided into identity and access management (IAM), data loss prevention (DLP), security information and event management (SIEM), business continuity and disaster recovery, and others (operations management, etc.)

Depending on the size of the company, the market can be divided into large companies and small and medium-sized enterprises (SMEs).

Regarding the end user, the market can be segmented into IT & Telecom, Banking, Financial Services & Insurance (BFSI), Healthcare & Life Sciences, Manufacturing, Retail, Government, Energy & Utilities, and others.

In geographical terms, the cloud security market share can be categorized into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

regional perspectives

North America will dominate during the forecast due to increasing initiatives by government agencies

North America is expected to hold the largest cloud security market share during the forecast period due to various initiatives undertaken by government agencies to increase investments in security solutions, to name a few. Furthermore, increasing collaborative efforts among prominent market players, coupled with the rise of phishing and cyber attacks, will increase the market’s presence in the region.

Asia Pacific will account for a substantial market share in terms of global contribution due to a combined effort between government agencies and private players in emerging economies such as China, India, Japan, South Korea and Southeast Asia. Additionally, increased investments in cloud security will further strengthen market growth in the region.

Report Coverage

The Cloud Security Market report includes qualitative and quantitative analysis by presenting a detailed overview of market size, growth, and volume for all segments and sub-segments. Additionally, the report further provides current market dynamics, current and emerging trends, and a competitive landscape. The factors that are expected to impact the market significantly are also pointed out and elaborated.

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Impact of COVID-19

Pandemic will cause a positive impact in the market due to the migration of workloads from the site to the cloud

The COVID-19 pandemic resulted in a positive growth environment for the cloud security industry due to accelerated adoption of solutions and services. During the ongoing pandemic situation, a huge growth in the use of containers was observed, leading to an increase in the volume of the market. As the majority of the workforce transitioned to a work-from-home situation, a growing demand for hybrid solutions was embraced, leading to a further increase in market share. Amid COVID-19, many organizations began moving large amounts of workload from data centers and facilities to the cloud. This led to an exponential increase in cloud usage solutions, which further led to a boost in the growth of the cloud security market.

competitive landscape

Enhanced featured player product offerings to help exert dominance during the forecast

The cloud security industry is dominated by various players such as Microsoft Corporation, Cisco Systems, Inc., IBM Corporation, Palo Alto Networks, Inc., and Broadcom Inc. These players are focused on launching innovative products to strengthen their current product. offering. For example, in August 2021, McAfee Inc. announced the launch of MVISION Private access. This will enable an approach to zero-trust access and extend threat and data protection capabilities for private applications hosted in hybrid IT environments. Other players are focused on employing strategic tactics like mergers and acquisitions and collaborations to grab a larger market share. For example, in July 2020, Quick Heal Technologies announced the release of its upcoming cybersecurity solution for various data breach business practices. This offering aims to integrate cloud-based email security, data protection, and privacy suits from security attacks.

Companies Profiled in the Cloud security market:

  • Trend Micro Incorporated (Tokyo, Japan)
  • Cisco Systems, Inc. (California, USA)
  • McAfee, Inc. (California, USA)
  • Palo Alto Networks, Inc. (California, USA)
  • Check Point Software Technologies (Tel Aviv-Yafo, Israel)
  • Microsoft Corporation (Washington, USA)
  • IBM Corporation (New York, USA)
  • Splunk Inc. (California, USA)
  • Alphabet Inc. (California, USA)
  • Amazon.com (Washington, USA)

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Main points of the table of contents:

  • Introduction
    • Definition, By Segment
    • Research methodology/approach
    • data sources
  • Executive Summary
  • market dynamics
    • Drivers, Constraints, Opportunities and Trends
    • Impact of COVID-19
      • Short term impact
      • Long term impact
  • Competition landscape
    • Trading Strategies Adopted by Key Players
    • Consolidated SWOT analysis of key players
    • Global Cloud Security Key Players Market Share Information and Analysis, 2021
  • Global Cloud Security Market Size Estimates and Forecasts, By Segments, 2018-2029
    • Key results
    • By Security Type (USD)
      • Identity and access management
      • Data Loss Prevention (DLP)
      • Security information and event management (SIEM)
      • Business continuity and disaster recovery
      • Others (Operations management, risk management and compliance)
    • By company size (USD)
      • Big enterprises
      • Small and Medium Enterprises (SMEs)
    • Per end user (USD)
      • IT and Telecoms
      • Banking, Finance, Security and Insurance (BFSI)
      • Health and Life Sciences
      • Manufacturing
      • Retail sale
      • Government
      • Energy and Public Services
      • Others (Transportation and storage, educational services, etc.)
    • By Region (USD)
      • North America
      • Latin America
      • Europe
      • Middle East and Africa
      • Pacific Asia
  • North America Cloud Security Market Size Estimates and Forecasts, by Segments, 2018-2029

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