Growing emergence of development security operations in the cloud environment, increasing number of cyber-attacks, growing reliance on cloud-based services, and increasing market for managed security services drive the growth of the global cloud security market.
PORTLAND, Ore., Nov. 14, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Cloud Security Market by Type (Cloud Identity and Access Management, Data Loss Prevention, E-mail & Web Security, Cloud Database Security, Network Security and Cloud Encryption), End-user (Large Scale Enterprise and Small & Medium Enterprise), Deployment (Public, Private, and Hybrid) and Vertical (Healthcare, BFSI, IT& Telecom, Government Agencies, Retail and Others): Global Opportunity Analysis and Industry Forecast, 2022–2032"
According to the report, the global cloud security industry generated $35.8 billion in 2022, and is anticipated to generate $125.8 billion by 2032, witnessing a CAGR of 13.6% from 2022 to 2032.
Prime determinants of growth
The surge in emergence of development security operations in the cloud environment, increase in number of cyber-attacks, rise in reliance on cloud-based services, and an upsurge in market for managed security services are factors that propel the growth of cloud security market. Furthermore, factors such as lack of awareness regarding cloud security and high navigation costs and stringent regulations are hampering the growth of cloud security market. Moreover, factors such as the development of cloud computing landscape and growth of mobile computing provide an opportunity for cloud security market expansion.
Download Sample Pages: https://www.alliedmarketresearch.com/request-sample/783
Report coverage & details:
Report Coverage |
Details |
Forecast Period |
2022–2032 |
Base Year |
2022 |
Market Size in 2022 |
$35.8 Billion |
Market Size in 2032 |
$125.8 Billion |
CAGR |
13.6 % |
No. of Pages in Report |
495 |
Segments covered |
Type, Enterprise Size, Deployment Mode, Industry Vertical, and Region. |
Drivers |
Growing emergence of development security operations in the cloud environment Rise in demand for high-quality content by consumers Increasing number of cyber-attacks Growing reliance on cloud-based services Increasing market for managed security services |
Opportunities |
Lack of awareness regarding cloud security High navigation costs and stringent regulations |
Restraints |
The development of cloud computing landscape Growth of mobile computing |
Covid-19 Scenario
- Due to the COVID-19 pandemic and the subsequent global lockdowns, the cloud security market faced a downturn.
- However, as the global situation started ameliorating, the demand for VFX solutions was restored back. This, in turn, presented various growth opportunities for companies operating in the 3d animation market.
Buy this Complete Report (495 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/cloud-security-market/purchase-options
The Cloud Identity and Access Management segment to maintain its leadership status throughout the forecast period
By type, the cloud identity and access management segment held the highest market share in 2022, accounting for above one-fourth of the global cloud security market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increasing demand for cloud security for protecting accessibility gates in the cloud. However, the cloud database security segment is projected to manifest the highest CAGR of 17.8% from 2022 to 2032, as it will be requiring more innovative and protected cloud security solutions in the future.
The large scale enterprise segment to maintain its leadership status throughout the forecast period
By enterprise size, the large scale enterprise segment held the highest market share in 2022, accounting for more than three-fifth of share in the global cloud security market and is estimated to maintain its leadership status throughout the forecast period, owing to the increasing use of cloud infrastructure in the business and operation environment. However, the small and medium scale enterprise segment is projected to manifest the highest CAGR of 16.3% from 2022 to 2032, owing to the increasing switch towards cloud environment.
The public segment to maintain its lead position during the forecast period
By deployment mode, the public segment held the largest share in 2022, thus contributing to nearly half of share in the cloud security market. The reasons behind the segment growth is attributed to the large presence of key players operating as a public cloud. However, the private market is expected to portray the largest CAGR of 15.7% from 2022 to 2032 and is projected to maintain its lead position during the forecast period. This is owing to large demand for private cloud infrastructure by the companies.
The BFSI segment to maintain its lead position during the forecast period
On the basis of industry vertical, the BFSI segment holds the largest market share of the cloud security market in the year 2022. This is attributed to the increasing requirement for cloud security to protect banking data present in the cloud. However, the healthcare market is expected to portray the largest CAGR of 17.7% from 2022 to 2032 and is projected to maintain its lead position during the forecast period. This is attributed again to the increasing need of cloud security to protect large amount healthcare data present in the cloud.
North America to maintain its dominance by 2032
By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global cloud security market revenue, owing to the increasing demand and use of cloud technology by large number of key technological companies present in the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 16.6% from 2022 to 2032, and is likely to dominate the market during the forecast period, owing to the large number of technological start-ups growing in the region.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/783
Leading Market Players:
- Fortinet Inc.
- Sophos Ltd.
- Cloudflare Inc.
- Tenable Inc.
- BMC Software Inc.
- Broadcom Corporation
- Cisco Systems Inc.
- IBM Corporation
- Trend Micro Inc.
- Watchguard Technologies Inc.
The report provides a detailed analysis of these key players of the global cloud security market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
Trending Reports in ICT & Media Industry:
Gaming Software Market Expected to Reach $301.5 Billion by 2032
Master Data Management Market Expected to Reach $74.5 Billion by 2032
IoT in Education Market Expected to Reach $46.4 Billion by 2032
Human Resource (HR) Technology Market Expected to Reach $76.5 Billion by 2031
Candidate Skills Assessment Market Expected to Reach $ 5.64 Billion by 2030
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
[email protected]
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research
![](https://rt.prnewswire.com/rt.gif?NewsItemId=IO68106&Transmission_Id=202311141025PR_NEWS_USPR_____IO68106&DateId=20231114)
Share this article