Global Cloud Security Market

Cloud Security Market Size, Share, Growth Analysis, By Security Type(Identity and Access Management (IAM), Data loss prevention (DLP), Security Information and Event Management (SIEM), Business Continuity and Disaster Recovery), By Enterprise Size(Large Enterprises, Small and Medium-Sized Enterprises (SMEs)), By End-User(IT and Telecommunication, Banking, Finance, Security and Insurance (BFSI)), By Service Model(IaaS, PaaS, and SaaS), By Deployment(Private, and Hybrid), By Region - Industry Forecast 2024-2031


Report ID: SQSG45B2024 | Region: Global | Published Date: June, 2024
Pages: 157 | Tables: 128 | Figures: 77

Cloud Security Market News

  • In April 2024, Sonrai Security, a cloud security solutions provider, has unveiled the release of the Cloud Permissions Firewall for AWS, Azure, and Google Cloud. This innovative technology transforms cloud access and permissions security, providing a streamlined one-click least privilege solution without interrupting cloud operations and development teams. 

  • In April 2024, Google unveiled a range of new cloud-based security offerings tailored for organizations overseeing extensive multi-tenant corporate networks. Alongside enhancements to existing products and services, Google introduced several updates to meet the evolving needs of its customers. Notably, many of these announcements revolved around Gemini, Google's premier suite of generative AI models, reflecting the company's commitment to leveraging advanced AI technology to bolster its security offerings. 

  • In November 2023, IBM unveiled a significant transformation of its flagship IBM QRadar SIEM product, introducing a redesigned version built on a new cloud-native architecture tailored for hybrid cloud environments. This redesign prioritizes scalability, speed, and adaptability to meet the demands of modern computing landscapes. Additionally, IBM disclosed its intention to integrate generative AI capabilities into its threat detection and response portfolio, leveraging watsonx, the enterprise-grade data and AI platform developed by the company.

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FAQs

Cloud Security Market size was valued at USD 33.50 Billion in 2022 and is poised to grow from USD 39.5 Billion in 2023 to USD 147.45 Billion by 2031, growing at a CAGR of 17.9% in the forecast period (2024-2031).

Market leaders like Microsoft Corporation, Cisco Systems, Inc., IBM Corporation, Palo Alto Networks, Inc., Broadcom Inc., and others strive to improve their product offerings by integrating advanced technologies. Other players are forming strategic alliances to strengthen their market position and gain a competitive advantage. To maintain competencies, the major players use technological alliances, partnerships, and collaborations with other companies. Key market players' go-to strategies include upgrading existing products and developing new products to meet industry demands. 'TrendMicro, Inc. (Japan) ', 'Broadcom (US) ', 'Zscaler (US) ', 'Akamai Technologies (US) ', 'Forcepoint (US) ', 'Fortinet (US) ', 'F5 (US) ', 'Qualys (US) ', 'Netskope (US)  ', 'Proofpoint (US) ', 'Tenable (US) ', 'Cisco Systems (US) ', 'McAfee, Inc. (US) ', 'Palo Alto Networks, Inc. (US) ', 'Check Point Software Technologies (Israel) ', 'Microsoft Corporation (US) ', 'IBM Corporation (US) ', 'Splunk Inc. (US) ', 'Alphabet Inc. (US) ', 'AWS (US)'

One of the major drivers for the market growth is the increasing adoption of cloud computing. Complex mathematical prediction models enable cybersecurity solutions that manage large amounts of data and data sets. With cloud technology, this data management can be completed in a secure and reliable environment. Major players like Cisco Systems, IBM Corporation, and others are committed to adopting cloud computing in cybersecurity solutions. These cloud computing services are based on 'Analytics-as-a-Service (AaaS) offerings to help end users quickly monitor and control unexpected threats. Furthermore, growth is enhanced by increased demand for large storage applications to store data and protect it with advanced security models.  

Adoption Of Managed Container Services to Maintain its Presence in the Market: In recent years, the use of containers has exploded across the IT industry. Many organizations are using managed or native Kubernetes orchestras. Enterprises use popular management services in the cloud such as Google Kubernetes Engine, Azure Kubernetes Service, Amazon Elastic Container Service for Kubernetes, etc. These management systems make it easy for developers to they will monitor, use, and scale containerized use-cases.

The North America region dominated the market with a share of 34.0%. North American organizations have been more active in developing robust security measures, due to increased awareness of cybersecurity threats America. The North, especially the US, largely is a global provider of leader in various sectors such as science, technology, banking and healthcare benefits related to strategies for protecting critical assets. 

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Global Cloud Security Market

Report ID: SQSG45B2024

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