Dublin, May 15, 2023 (GLOBE NEWSWIRE) — The “Cloud Security Market -Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Service Type, By Enterprise Size, By Service Model Size, By End User, By Region, Competition” report has been added to ResearchAndMarkets.com’s offering.
The Global Cloud Security Market is anticipated to grow at a robust pace in the forecast period, 2024-2028, owing to the rise in demand for cloud services worldwide.
The urgent requirement for cloud computing among the population and enterprises will drive market growth. Because of the increase in technological and online attacks, the emphasis has switched to security maintenance. As a result, organizations must take certain precautions before a cyber threat occurs.
According to recent data, businesses are utilizing cloud-based security solutions. Cloud-based services are used by 90% of organizations; vital forces driving the cloud security market are the increasing sophistication of cybercrimes, cyber espionage activities, the results of new cyberattacks, and the widespread use of cloud-based solutions.
Rising government measures to support cutting-edge infrastructure projects and protect operating systems, social media, and online financial apps will offer promising opportunities for cloud security vendors. Businesses’ efforts to tackle cybercrime aid developed and developing countries in their contributions to the growth of the global cloud security market.
Growing Procurement Complexity Creates a Variety of Options for Small Firms
The information and communication technology sector has enormous potential for growth because of the improving global economy. The fast use of cloud computing, the expanding usage of new and advanced technologies, and the major emphasis that organizations across the world are placing on doing away with old procedures and paperwork all point to a solid prospect for development.
Cybercrime Complexity, Cyber Espionage Activities, and the Development of New Cyberattacks
The growing number of SMEs that use web and cloud-based tools and applications make these organizations prime targets for threat actors.
Cloud security is necessary for enterprises of all sizes to protect their networks from sophisticated cyberattacks. Cloud security is of paramount importance in the rapidly evolving cyber threat landscape. Data breaches, insecure interfaces and Application Programming Interfaces (APIs), misconfiguration, account hijacking, malicious insider and outsider threats – as enhanced security threats and more innovative attack tools emerge, the need for advanced IT/network security solutions to deal with such attacks grows dramatically.
Traditional enterprise security solutions cannot protect businesses against network, cloud, application, and endpoint security threats. Thus, the increasing adoption of cloud technology by various firms is boosting the growth of the market.
Increased Adoption of Cloud-Based Solutions
Increased cloud computing use for data monitoring solutions and the rising need for enormous storage applications will drive cloud security market development over the forecast period.
Furthermore, the growing usage of managed container services and solutions, along with increased cyber-attacks, will expand the market’s footprint. Again, the continued practice of crypto-jacking will propel the industry to new heights.
Recent Developments
On December 20, 2021, Verizon and Google Cloud collaborated to bring the power of the cloud closer to mobile and connected bias at the Verizon network’s edge. Verizon plans to bring Google’s computing and storage services to the edge of the original network with Verizon 5G Edge and Google Distributed Cloud Edge, enabling the bandwidth and low quiescence required to support real-time enterprise operations such as independent mobile robots, intelligent logistics, and plant robotization.
On Nov-2022, AWS Security Hub now interfaces with AWS Control Tower, allowing you to administer AWS Security Hub investigative controls alongside AWS Control Tower proactive or preventative measures. AWS Security Hub controls are now linked to associated control goals in the AWS Control Tower control library, giving you a complete picture of the controls needed to achieve a certain control goal.
This combination of over 160 detective controls from AWS Security Hub and built-in automation for multi-account environments from AWS Control Tower provides you with a solid baseline of governance and off-the-shelf controls needed to extend your organization leveraging new AWS workloads and services.
Market Dynamics
Drivers
- Increased adoption of cloud-based solutions and MSS
- As procurement becomes more complicated, small businesses have more alternatives.
Challenges
- Enterprises and cloud security service providers have a low level of trust and coordination.
- High risk of privacy and cyber-attacks.
Market Trends & Developments
- Increased in managed services
- Growing hybrid data centers
- Firms are moving towards Security Consolidation
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Cloud Security Market.
- Cisco Systems, Inc
- Amazon Web Services, Inc
- McAfee, Inc.
- Microsoft Corporation
- Emerson Electric Company
- Capgemini SE
- Palo Alto Networks Inc.
- Trend Micro Inc
- International Business Machines Corporation
- Splunk Inc
- Alphabet Inc
- Check Point Software Technologies
- Aqua Security Software Ltd
- Fortinet, Inc
- Indusface Pvt ltd
Report Scope:
Cloud Security Market, By Service Type:
- Data Loss Prevention
- Security information and event management (SIEM)
- Business continuity and disaster recovery
- Identity and access management
- Remote Monitoring
- Others
Cloud Security Market, By Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Cloud Security Market, By Service Model Size:
- Infrastructure-as-Service
- Platform-as-Service
- Software-as-Service
Cloud Security Market, By End User:
- IT and Telecom
- Banking, Finance, Security, and Insurance (BFSI)
- Healthcare and Life-science
- Manufacturing
- Retail
- Government
- Energy and Utilities
- Others (Transportation & Warehousing, Education Services)
Cloud Security Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- Europe
- Germany
- United Kingdom
- France
- Russia
- Spain
- Belgium
- Italy
- South America
- Brazil
- Argentina
- Colombia
- Peru
- Chile
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Israel
- Turkey
For more information about this report visit https://www.researchandmarkets.com/r/66dctw
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