The global cloud security market is expected to reach USD 13.93 billion
by 2024, according to a new report by Grand View Research, Inc. The cloud
infrastructure has witnessed a significant growth in recent years and its
popularity can be attributed to the on-demand services, scalability and
flexibility, and the cost effective solutions it offers to organizations. In
addition to the tussle between public and private cloud the emergence of hybrid
cloud has given cloud users numerous different platforms and frameworks to
choose from. As the adoption of cloud reaches new levels, the security issues
concerning cloud users and vendors have come to the forefront.
 |
| Global cloud security market, by application, 2014- 2024 (USD Million) |
Increasing threats to data and information stored on the cloud,
emphasized by the data breaches of recent years are anticipated to create a
greater demand for the cloud security solutions. The industry is also expected
to see greater efforts at creation of regulations and compliance laws as the
need for an industry-wide standard is eminent. The demand for security services
and policy implementation is also expected to increase driving the overall
cloud security market.
The dynamic nature of industry may result in increasing adoption of open
source platforms, whereas the versatility of data and diverse threat vectors
will lead to security-as-a-service offering gaining traction among the vendors
as well as the users. The sharing of responsibility between Cloud Service
Providers (CSPs) and cloud users for protecting the data will impact the
security landscape positively. In addition, technologies such as
virtualization, convergence and hybrid cloud are predicted to help in
implementing security at different levels of cloud infrastructure.
The increasing sophistication of the hacking techniques and the
technological advancement in malicious software is expected to unleash new
generation of attacks such as advanced persistent threats (APTs), ransomware,
malicious insider, distributed denial of service (DDoS) and zero day threats
among others. With growing threats and malicious hackers, industry wide
collaborations and partnerships to tackle emerging threats may pave the way for
future industry developments.
In depth research report on Cloud Security
Market
Further key findings from the report suggest:
·
As an
increasing number of organizations adopt cloud cyber-attacks and data breaches
have increased dramatically with highly sophisticated attacks targeted at
confidential data. Last two years have seen many high level data breaches such
as the attack on Ashley Madison, Home Depot, Anthem and even some security
providers such as Kaspersky Labs.
·
Cloud
computing has been erasing traditional geographic boundaries with its world
wide spread but the changing cloud regulations and government roles may
complicate the market. While some countries such as Germany are opting for
greater data privacy, other countries are striving for greater visibility in
the internet traffic (such as U.S. and France).
·
The cloud
security is also affected by industry specific regulations such as Health
Insurance Portability and Accountability Act of 1996 (HIPPA) for healthcare,
Payment Card Industry Data Security Standard (PCI DSS) for financial sector as
well as international laws like Safe Harbor Act and European Union Data
Protection Directive.
·
CA
Technologies Inc., Cisco Systems, Fortinet Inc., IBM Corp., Intel Corp.,
TrendMicro, VMware and Symantec Corp. some of the major industry players in
this domain. Other key vendors include BMC Software, Bitium Inc., CloudPassage,
Netskope, SkyHigh Networks Inc., Snoopwall Inc., Sophos, and Whitehat Virtual
Technologies.
·
Key industry
players such as CA Technologies, TrendMicro, Symantec Corp., Intel Corp. and
IBM Corp. use technological alliances, partnerships and collaborations with
other industry players to maintain market competencies.
Grand View Research has segmented the global cloud security market on the
basis of application, company size, solution, deployment and region:
Application Outlook (Revenue, USD Million;
2014 - 2024)
·
Financial
Services
·
IT and telecom
·
Government
·
Education
·
Healthcare
·
Media and
entertainment
·
Others
Company Size Outlook (Revenue, USD Million;
2014 - 2024)
·
Small and
Medium Enterprises
·
Large
Enterprises
Solution Outlook (Revenue, USD Million; 2014 -
2024)
·
Cloud IAM
·
Cloud Email
Security
·
Cloud IDS/IPS
·
Cloud DLP
Deployment Outlook (Revenue, USD Million; 2014
- 2024)
·
Public
·
Private
·
Hybrid
Regional Outlook (Revenue, USD Million; 2014 -
2024)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
Japan
o
India
·
Latin America
o
Brazil
·
Middle East
& Africa (MEA)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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