PUBLISHER: The Business Research Company | PRODUCT CODE: 1464067
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464067
Cloud workload protection encompasses security measures and practices aimed at safeguarding the various workloads within cloud environments. These measures are essential for ensuring the security, compliance, and resilience of cloud workloads, allowing organizations to benefit from cloud computing while mitigating security risks.
The primary types of cloud workload protection include training, consulting, and integration services, support and maintenance offerings, and managed services. Training involves imparting skills, knowledge, and behaviors through instruction, practice, and experience. It encompasses various components such as compliance management, vulnerability assessment, runtime security, threat detection and response, monitoring, and others. These services can be deployed across public cloud, private cloud, and hybrid cloud environments and are utilized by organizations across various sectors including banking, financial services, and insurance (BFSI), information technology, telecommunications, government, healthcare, manufacturing, energy and utilities, retail, and others.
The cloud workload protection market research report is one of a series of new reports from The Business Research Company that provides cloud workload protection market statistics, including cloud workload protection industry global market size, regional shares, competitors with a cloud workload protection market share, detailed cloud workload protection market segments, market trends and opportunities, and any further data you may need to thrive in the cloud workload protection industry. This cloud workload protection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cloud workload protection market size has grown exponentially in recent years. It will grow from $5.92 billion in 2023 to $7.33 billion in 2024 at a compound annual growth rate (CAGR) of 23.9%. The historical growth can be attributed to several factors, including the widespread migration to cloud environments, the rising incidents of data breaches and cyber-attacks targeting cloud workloads, increasing compliance requirements necessitating enhanced security measures, the complexity associated with managing security in cloud environments, the shared responsibility model where both cloud providers and customers are responsible for security, and the heightened awareness among organizations regarding the risks associated with cloud security.
The cloud workload protection market size is expected to see exponential growth in the next few years. It will grow to $16.84 billion in 2028 at a compound annual growth rate (CAGR) of 23.1%. The projected growth in the upcoming period stems from heightened adoption of cloud technologies, the emergence of hybrid and multi-cloud deployments, a concerted emphasis on zero-trust security measures, the rapid expansion of containerization and serverless computing, as well as advancements in threat intelligence and analytics. Key trends expected during this forecast period encompass the widespread adoption of zero-trust architecture, the convergence of various cloud security solutions, a sharpened focus on threat detection and response mechanisms, a transition towards cloud-native security approaches, and increased emphasis on automation and orchestration processes.
The escalating cybersecurity threats are anticipated to be a significant catalyst for the growth of the cloud workload protection market in the foreseeable future. Cybersecurity threats encompass malicious activities or events that pose potential harm to digital systems, networks, data, or individuals. These threats stem from the widespread adoption of digital technologies, the proliferation of Internet of Things (IoT) devices, and a pervasive lack of cybersecurity awareness. Cloud workload protection emerges as a critical solution to mitigate cybersecurity risks by equipping organizations with essential tools and capabilities to uphold a secure and resilient cloud environment, fortify their security posture, and mitigate the inherent risks associated with cloud computing. For instance, as reported by Check Point Software Technologies Ltd. in January 2023, global cyberattacks surged by 38% in 2022 compared to the previous year, with notable spikes in the USA and UK experiencing increases of 57% and 77%, respectively. Consequently, the mounting cybersecurity threats serve as a driving force behind the burgeoning growth of the cloud workload protection market.
Key players within the cloud workload protection market are focused on spearheading the development of innovative protection methodologies, exemplified by solutions such as CloudGuard workload protection, to effectively address the evolving dynamics of cloud environments and the perpetual changes in application landscapes. This protection technology represents a fully automated workload security solution engineered to deliver unified visibility, compliance, and threat prevention capabilities across diverse applications. For instance, in June 2021, Check Point Software Technologies, an Israel-based software company, unveiled CloudGuard Workload Protection, an automated and unified cloud workload protection solution. This solution offers comprehensive, cloud-native workload security, encompassing unified visibility and threat prevention capabilities spanning APIs and microservices, from the development phase through runtime. Notable features include shift-left security, image assurance, and automated serverless security, all seamlessly integrated to address the evolving demands of cloud service utilization and ensure accessible and continuous defense of applications against emerging cyber threats.
In March 2023, XM Cyber, a hybrid cloud security company headquartered in Israel, finalized the acquisition of Confluera Inc. for an undisclosed sum. This strategic move is geared towards enhancing protection against cyber threats and empowering customers to detect and respond to such threats with greater effectiveness and efficiency. The acquisition underscores the increasing significance of a multifaceted defense approach within the cybersecurity landscape. Confluera Inc., a cybersecurity firm, specializes in workload protection and response (CxDR) solutions.
Major companies operating in the cloud workload protection market report are Google LLC, Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation (IBM), Broadcom Inc., VMware Inc., Palo Alto Networks Inc., Fortinet Inc., Akamai Technologies Inc., Check Point Software Technologies Ltd., McAfee LLC, Trend Micro Incorporated, CrowdStrike Holdings Inc., Zscaler Inc., Sophos Group plc, FireEye Inc., Rapid7 Inc., CyberArk Software Ltd., Qualys Inc., SentinelOne Inc., Carbon Black Inc., Aqua security Ltd, Armor Defense Inc., Netskope Inc., Guardicore Ltd.
North America was the largest region in the cloud workload protection market in 2023. The regions covered in the cloud workload protection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cloud workload protection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cloud workload protection market consists of revenues earned by entities by providing services such as endpoint protection, network security, identity and access management, vulnerability management, security monitoring, incident response, data protection, compliance, and governance. The market value includes the value of related goods sold by the service provider or included within the service offering. The cloud workload protection market also includes of sales of intrusion detection and prevention systems, cloud security posture management (CSPM) tools, and container security tools. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cloud Workload Protection Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cloud workload protection market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cloud workload protection ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cloud workload protection market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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