Cloud Security Market worth USD 12.73 Billion by 2022

(IT-NEWSWIRE.COM, February 21, 2020 ) MarketsandMarkets forecasts a new market research report “global cloud security market size is expected to grow from USD 4.09 billion in 2017 to USD 12.73 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 25.5% during the forecast period.

Cloud security refers to a broad set of policies, technologies, and services deployed to protect applications, data, & associated infrastructure through cloud. It comprises various security services such as cloud Identity and Access Management (IAM), Data Loss Prevention (DLP), cloud Intrusion Detection System (IDS)/ Intrusion Prevention System (IPS), Security Information and Event Management (SIEM), & encryption. As most of the organizations are moving their businesses over the cloud, the risk of data breaches and cyberattacks is very high. Cloud-based security services help organizations to strengthen their entire business infrastructure by providing various security services. Cloud security vendors are developing advanced cloud security services to provide proactive and holistic security to critical business applications.

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The web and email security segment is expected to have the largest share in the cloud security market in 2017

The web and email security segment is expected to have the largest market share and dominate the cloud security market from 2017 to 2022, as more and more companies are adopting cloud-based security services to secure their business infrastructures. The major factors responsible for the growth of web and email security segment are increased usage of cloud-based web and email applications in the organizations and the need to protect these applications from advanced threats, such as ransomwares, APTs, zero-day attacks, malwares, & unauthorized accesses.

The retail vertical is expected to grow at the highest CAGR in the cloud security market

The Banking, Financial Services, and Insurance (BFSI) vertical is expected to contribute to the largest market share in the cloud security market. The increasing digital identities in all size of organizations and the growing trends of BYOD and IoT result in a massive growth in advanced cyberattacks, thus creating the need for adopting cloud-based security services. The retail vertical is projected to grow at the highest CAGR from 2017 to 2022 in the cloud security market, because retail industries are continuously deploying cloud security services to protect customer-sensitive data and the digital identities associated with each customer stored on the cloud.

North America is expected to contribute to the largest market share, whereas Asia-Pacific (APAC) is projected to grow at the highest CAGR
North America is expected to have the largest market share and dominate the cloud security market from 2017 to 2022, due to the presence of a large number of cloud security vendors across this region. APAC, on the other hand, offers potential growth opportunities in the cloud security market, as there is a wide presence of small and medium enterprises in this region that is turning toward cloud security services to defend against APTs.

The major vendors in the cloud security market include Trend Micro, Inc. (Tokyo, Japan), Intel Security (California, U.S.), Symantec Corporation (California, U.S.), IBM Corporation (New York, U.S.), Cisco systems (California, U.S.), CA Technologies, Inc. (New York, U.S.), CSC (Virginia, U.S.), and Fortinet, Inc. (California, U.S.).

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Source: EmailWire.Com

Source: EmailWire.com

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Cloud Security Market worth USD 12.73 Billion by 2022