Market Research Report
Cloud Security Market with COVID-19 Impact Analysis, By Application, By Service model, By Security Type, By Organization size, By Verticals and By Region - Size, Share, & Forecast from 2021-2027
|Published by||AnalystView Market Insights||Product code||997967|
|Published||Content info||284 Pages
Delivery time: 2-3 business days
|Cloud Security Market with COVID-19 Impact Analysis, By Application, By Service model, By Security Type, By Organization size, By Verticals and By Region - Size, Share, & Forecast from 2021-2027|
|Published: February 1, 2021||Content info: 284 Pages||
The global Cloud Security market was valued at USD 580.2 million by 2019, growing with 15.4% CAGR during the forecast period, 2021-2027.
Cloud Security refers to the protection of data that is collected online through the use of cloud computing platforms. This security gives protection to the data from theft, leakage, and removal. Major factors driving the market include the rising number of digital thefts, espionage, and cyber-attacks. Data that is stored in cloud servers are more susceptible to cyber-attacks than the data stored in enterprise servers which aid in growing importance as the topmost necessity solution for protecting the data. Small and middle-level enterprises are also shifting their data on which is further leading to rising demand to protect them.
With the outbreak of COVID-19, remote working has become a necessity in many countries which has led to increased use of applications such as Zoom, google meet, Microsoft teams. In Italy, Microsoft company received data citing that there was an increase of 775% in just one month.
The sudden surge in the use of cloud-based services has attracted cyber-attacks and less security which in turn has increased the demand for cloud security exponentially in a very short timeframe and is expected to drive the market over the forecast timeframe. However, the lack of proper knowledge in enterprises owing to the complex cloud computing model might act as a restraint impeding the market growth to a certain extent.
Based on organization size, the market is further divided into large enterprises and small and medium enterprises (SMEs). Large enterprises are expected to account for a major share in 2020. This largest share is attributed to the high investment of these enterprises in advanced security and technologies to improve and enhance overall efficacy. Large enterprises have more demand for security solutions as they have more cloud-based applications. Also, they are more prone to data theft and security breach complications, and cyber-attacks. With the recent outbreak of COVID-19, demand is expected to gain more traction owing to enterprises deploying remote working due to lockdowns in some countries.
On the basis of geography, North America is estimated to account for the largest market share while the Asia Pacific region is expected to be the fastest-growing segment. The Asia Pacific is one of the regions which is most prone to cyber-attack. According to CISCO, the company gets around six threats every sixty seconds. Around 51% of cyber-attacks in APAC have resulted in loss of more than USD 1 million. Thus, the rising number of cyber-attacks in this region will generate the need for cloud security for managing it. The sector of cloud computing is noticing rapid growth due to growing data privacy breaches and software security concerns.
The Cloud Security market is fragmented and is characterized by the presence of many global and local players. Major players operating in the market include IBM Corp, NortonLifeLock Inc., Armor Defense Inc., CA Technologies, checkpoint software technologies, McAfee. These companies offer a competitive range of products providing customers variety of options to choose from. Companies are actively engaged in strategic collaborations to expand their market reach. In May 2020, IBM corporation partnered with Alert logic to offer the company's detection and response to its cloud customer.
Key features of the study:
This proposed research study on Cloud Security market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2020-2027), considering 2019 as the base year.
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Cloud Security market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Cloud Security market
Impact of COVID-19 on Cloud Security market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Cloud Security market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Cloud Security market, we have also included competitive landscape and key innovator analysis for the Cloud Security market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Cloud Security market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new product launch, research & development, regional expansion of major participants involved in the Cloud Security market on global as well as regional level.
The global Cloud Security market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CLOUD SECURITY MARKET KEY PLAYERS
Amazon Web Services
Palo Alto Networks
GLOBAL CLOUD SECURITY MARKET, BY APPLICATION
Visibility and Risk Assessment
User and Data Governance
Activity Monitoring and Analytics
Threat Protection and Remediation/ Mitigation
GLOBAL CLOUD SECURITY MARKET, BY SECURITY TYPE
GLOBAL CLOUD SECURITY MARKET, BY SERVICE MODEL
GLOBAL CLOUD SECURITY MARKET, BY ORGANIZATION SIZE
GLOBAL CLOUD SECURITY MARKET, BY VERTICALS
Finance and Insurance
Healthcare and Social Assistance
GLOBAL CLOUD SECURITY MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures