Cloud Security Market Scope
Since the last few years, instances of hacking attacks such as shoulder surfing, fishing, brute force, key loggers have been escalated across the globe. Thus, the need to develop anti-hacking security software has propelled among cloud service providers. In addition to this favorable government regulation in minimizing hacking attacks. These applications integrate a set of procedures, controls, policies, technologies, and many others. These platforms enable users to protect their private data from the theft attacks. Moreover, the growing adoption of cloud-based services will further escalate the demand for cloud security platforms across the globe.
The market study is being classified by Type (Cloud Identity and Access Management, Data Loss Prevention, Email & Web Security, Cloud Database Security, Network Security and Cloud Encryption), by Application (Healthcare, BFSI, IT & Telecom, Government Agencies, Retail and Others) and major geographies with country level break-up. and may see market size of USD19328.17 Million by 2024.
Open source application production and service providing will increase competitive rivalry. Some of the major brands such as Microsoft, IBM have covered almost 500-60% of market share. All of the cloud security providers are looking for product differentiation and enhanced security techniques. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Cloud Security market throughout the predicted period.
Fortinet Inc. (United States), CA Technologies Inc. (United States), Panda Security (Spain), Sophos Ltd. (United Kingdom), Symantec Corporation (United States), Trend Micro Inc. (Japan), IBM Corporation (United States), Cisco Systems Inc. (United States), McAfee Inc. (United States) and Intel Corporation (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Hewlett-Packard (HP) Company (United States), Microsoft Corporation (United States), Kaspersky Labs (Russia) and Dell Inc. (United States).
AdvanceMarketAnalytics has segmented the market of Global Cloud Security market by Type, Application and Region.
On the basis of application, IT & Telecom segment is dominating the market in the year 2018 where as BFSI segment stood as second largest market.
On the basis of geography, the market of Cloud Security has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Deployment, the sub-segment i.e. Private will boost the Cloud Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Infrastructure as a Service (IaaS) will boost the Cloud Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Large scale enterprise will boost the Cloud Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In the United States, the US Congress has made information more transparent and secure after the Cyber Security Act of 2012., Number of governments have started improving the complex infrastructure to increase user friendliness, minimize operational time and enhaces security. and The european government has set up the regulation under the Regulation (EC) No 460/2004 act of the European Parliament and of the Council in purpose of raising information and security.
- Expanded Internet User's Base will lead to Increase Demand for IoT based Cybersecurity Platforms.
- Number of Developing Technologies including Bring Your Own Business (BYOB) and Bring Your Own Application (BYOA) are Trending in the Market.
- Growing Demand for Email and web Cybersecurity Solutions.
- Growing Adoption of Cloud-based Services.
- Increasing Instances of Cyber Attacks such as; Data Vulnerability and Data Theft will Fuel Demand for Data Security.
- Use of Cyber Security Services in Banking and Financial Applications will Upsurge the Service Demand.
- Robust Demand for Cloud Security in the Windows, Android, iOS Platform Devices
- Lack of Awareness about Wireless Transactions and cloud-based Services might hamper Business Growth.
- Growing Complexities for Developers to Provide Services which will offer Security against all types of Hacking attacks such as, Shoulder Surfing, Keylogger or Brute Force Hacking Techniques.
- Continues Technological Enhancements will keep Changing Consumer Preferences.
- Lack of Reliability and Data Privacy of the Service Provider
Key Target AudienceKey Consulting Companies & Advisors, Large, medium-sized, and small enterprises, Venture capitalists, Value-Added Resellers (VARs), Third-party knowledge providers, Investment bankers, Investors and Others
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