The transformation from traditional storage systems to cloud storage systems which are easier to manage, it has become the primary responsibility of all organizations to protect data which is stored in the cloud. Data contains intellectual property like patents, nondisclosure agreements, financials and employee details. Cloud Security is implemented to protect data, infrastructure and applications associated with Cloud Technology.
Cloud storage systems are easier to manage and cost effective due to these features many companies of small and medium range are opting out for cloud storage systems. Due to the evolution of cloud technology, there is a need for the If security can’t keep up with the agile public cloud, private cloud, and hybrid cloud environments of today, gaps in protection will occur, which will become a threat for the organizations.
Cloud Security Market: Drivers and Restraints
Cloud computing security solutions provide customers with the availability, reliability, flexibility and safety they need to conduct business in a global marketplace and supports the remote workforce. Cloud computingS attacks, data loss prevention. These features of cloud security are primary drivers for the business. The upsurge in the handheld devices is another driver for cloud security market. The Recent agreement between Google and SAP to join hands for building enterprise solutions will drive the market as well.
Cloud Computing was built in virtualization, Issues with virtualization will lead to the security breach. Data integrity protection will be the primary challenge.
Cloud Security Market Segmentation
Cloud Security Market can be
Cloud Security by type:-
Cloud Security by Application:
North America stands as the potential market for the Cloud Security due to Government and Enterprise adaptation to cloud technology. In Asia Pacific, there will be tremendous growth for cloud security due to rising trend of BYOD and CYOD policies and superior advantages of cloud security services.
The report covers exhaustive analysis on:
Cloud Security Market Segments
Regional Analysis for Cloud Security Market includes the development of these systems in the following regions:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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.
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.
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.
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.