COVID-19 May Transform Cloud Security Market-Size and Forecast with Impact Analysis

 

Cloud Security Market will reach USD 68.5 billion by 2025. The reports forecast the cloud security market by service, type, application and region. It highlights COVID-19 impact on the cloud security industry.

 

Description

Cloud Security Market: by Services (IaaS, PaaS, SaaS), by Type (Perimeter Security, Network Security, End Point Security, and Application Security), by Application (Visibility and Risk Assessment, User and Data Governance, Activity Monitoring and Analytics, Threat Protection and Remediation), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

 

The cloud security market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the cloud security industry.

 

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Cloud Security Market: Introduction

The cloud security market size is valued at USD 34.5 billion in 2019 and expected to register a 14.3% CAGR during the forecast period (2020-2025). Cloud security is one of the important aspects taken into consideration by every company that has shifted its business to the cloud. Most of organizations are using multiple cloud servers and looking for a unified way to secure them which will boost the growth of the cloud security market. Many enterprises use CASB software that integrated between cloud service users and cloud applications for monitoring activity and enforcing security policies.

 

Factors Affecting the Cloud Security Industry Over the Forecast Period

 

·         The increasing sophistication of cyber espionage, cybercrimes, and new cyberattacks are the key factors that boost the growth of the cloud security market.

·         Moreover, increasing data leakage and data breaches in enterprises are creating the demand for cloud security and is expected to accelerate the growth of the cloud security market.

·         Small and large enterprises are hesitant to move all their data to the cloud due to trust issues. This factor is estimated to impede the growth of the cloud security market.

·         The rise in the number of government initiatives to support smart city projects is investing in cloud computing technology, which increases the demand for cloud security and fuel the growth of the global market

 

Impact of COVID-19 on Cloud Security Market:

The impact of the COVID-19 pandemic on the cloud security market was relatively mild as compared to other industries. Since all the government and regulatory authorities has mentioned to both public and private organizations to work remotely and maintain social distancing, then doing digital business has increased and on the other perspective internet penetration across the corners of the globe has also increased exponentially. This results in cloud security growth in the later stages of lockdown to ensure safety from malicious attackers and hackers.

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Scope of the Report

The report outlines the global cloud security market study based on component, security type, and application

 

Based on the service, the cloud security market has been segmented into –

 

• IaaS
• PaaS
• SaaS

Based on the security type, the cloud security market has been segmented into –

 

• Perimeter Security
• Network Security
• End Point Security
• Application Security

Based on the application, the cloud security market has been segmented into –

 

• Visibility and Risk Assessment
• User and Data Governance
• Activity Monitoring and Analytics
• Threat Protection and Remediation

 

 Cloud Security Market: Regional Outlook

The global cloud security market has been segmented into five geographical regions, namely, North America, Asia Pacific, South America, Europe, and the Middle East and Africa (MEA). North America followed by Europe and the Asia Pacific, has the largest share in the global cloud security market, owing to the high adoption of IT security services across the region. Further, Asia Pacific is the fastest-growing region in the global cloud security market.

 

Cloud Security Market: Key Competitors –

The global cloud security market is fairly fragmented, with the presence of a large number of small players across the globe. The vital cloud security manufacturers operating in the global market are –

 

·     Microsoft

·     Cisco

·     Trend Micro

·     McAfee

·     Qualys

·     Amazon Web Services

·     Broadcom

·     Checkpoint

·     IBM

·     Foreseeti

·     Sophos

·     Forcepoint

·     Palo Alto Networks

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