Cloud Security Market Size, Shares, Industry Trend, Demand, Applications, Types And 2025 Forecast Research Report
Technological transformations have revived the dynamics of storage in the organizations and corporate world. The traditional storage systems have shifted to cloud storage systems for their multiple benefits that include flexibility, ease of access, better management, and enhanced security. With the growing proliferation of the internet in the work environment, the protection of data has become very important. Data such as non-disclosure agreements, employee details, patents, and different financial details demand a high level of security. Cloud security is demanded in the market for the protection of these sensitive data, infrastructure, and applications.
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Escalated Cyber Attacks Increase Demand in the Market
The cost-effectiveness has emerged as a major driving factor for the demand of these security services. Small and medium-sized companies find these solutions on their budgets and readily adopt it. The continuous evolution in the cloud technology keeps on evolving the dynamics of the landscape and expanding it with time. The cloud security service providers are marketing their products on the basis of advantages including availability, flexibility, reliability, and safety. The surge in the use of smart devices acts as a major growth driver in the market, allowing the user to operate the cloud technology irrespective of location. The surge in the number of cyberattacks creates scopes for security solutions such as cloud security. The rise in digital content is another significant factor contributing to the augmenting demand in the market.
Market Segmentation
The global market can be segmented on the basis of type into the private cloud, public cloud, and hybrid cloud. Different prominent applications in the market include BFSI, healthcare, IT and telecommunication, retail, and hospitality. Different significant segments of cloud include data loss prevention, cloud IAM, cloud database security, and email & web security.
Different regions leading the global market include North America, Latin America, Asia Pacific, Japan, Europe, the Middle East, and Africa. The technological advancements in North America account for the high adoption rate of cloud security solutions, making it a prominent region in the global market. The rise in the BYOD and CYOD policies in the Asia Pacific is excited to propel the growth of the regional market during the forecast period.
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Competition Landscape
Market players are leveraging advanced technologies to boost the security offerings of their products. The market competition is getting intense with collaboration and new product launches. The vendors in the market are focused to provide personalized services to broaden their product portfolio. They are placing stakes in the growing market for managed security services owing to high demand for its different attributes such as protection against cyber attacks and intruders, next-generation firewall, two-factor authentication, content filtering along with security consultancy. They are working on solving the data integrity problem that arises with virtualization. Market participants are exploring opportunities in the developing economies to benefit from its rapidly expanding technological infrastructure.
Established players profiled in the global cloud security market include CA Technologies, Inc., IBM Corporation, Symantec Corporation, McAfee, Inc., Sophos Ltd., Trend Micro, Inc., Fortinet, Inc. and Cisco Systems, Inc.