What is Cloud Security?
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 broken down 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 2026.
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. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Cloud Security market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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 that are part of study coverage. Additionally, the Players which are also part of the research coverage are Hewlett-Packard (HP) Company (United States), Microsoft Corporation (United States), Kaspersky Labs (Russia) and Dell Inc. (United States).
Segmentation Overview
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 2020 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 2020. 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.
Market Trend
- 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.
Market Drivers
- 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.
Opportunities
- Robust Demand for Cloud Security in the Windows, Android, iOS Platform Devices
Restraints
- 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.
Challenges
- Lack of Reliability and Data Privacy of the Service Provider
Key Target Audience
Key Consulting Companies & Advisors, Large, medium-sized, and small enterprises, Venture capitalists, Value-Added Resellers (VARs), Third-party knowledge providers, Investment bankers, Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.