What is the global market size of Cloud Security Market?

Cloud Security Market size was valued at USD 29.26 billion in 2021 and is poised to grow from USD 33.13 billion in 2022 to USD 106.02 billion by 2030, growing at a CAGR of 18.1% in the forecast period (2023-2030).

What is the key driver of Global Cloud Security Market?

The increasing adoption of cloud computing is one of the key drivers driving market growth. To monitor large amounts of data and structured information, cyber security solutions rely on complex mathematical forecast models. The use of cloud technology can accomplish this data monitoring in a secure and dependable environment.

What is the key market trend for Global Cloud Security Market?

Crypto Jacking: Crypto-jacking attacks in the cloud are caused by the varying value of cryptocurrencies tailored with better decision capabilities. CoinStomp, for example, is a malware composed of shell scripts that attempt to mine cryptocurrency using cloud compute instances hosted by network security providers.

Which region accounted for the largest share in Global Cloud Security Market?

The global cloud security market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is expected to have a sizable market share. Governments and private players in countries such as the United States, Canada, and others are increasing their investment in security solutions by launching new initiatives and embracing R&D in existing solution offerings.

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 Insights

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).

Emerging advanced security applications in the cloud environment, increasing number of cyberattacks, increasing reliance on cloud-based services while these factors drive the cloud security market growth. Furthermore, factors such as the evolution of the cloud computing landscape and the growth of mobile computing are giving the cloud security industry an opportunity to expand.

Cloud security protects cloud data, applications, and infrastructure from cyber-attacks and cyber threats. With enterprise cloud adoption on the rise, business-critical app and data are moving to established third-party cloud service providers (CSPs). Executives weigh the benefits of using cloud services by the level of data security risk their companies are willing to take because no company or CSP can eliminate security risks and vulnerabilities. It’s important to implement proper cloud security policies and regulations.

US Cloud Security Market is poised to grow at a sustainable CAGR for the next forecast year.

Cloud Security Market Report Snapshots

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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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Cloud Security Market Insights

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What is the global market size of Cloud Security Market?

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