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.
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.
See All the Details about this Report: http://www.grandviewresearch.com/industry-analysis/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
- OthersU
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
- US.
- Canada
- Mexico
- Europe
- UK
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East & Africa (MEA)
Access Press Release of this Report: http://www.grandviewresearch.com/press-release/global-cloud-security-market
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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