New York, US, March 23, 2023 (GLOBE NEWSWIRE) -- Global Cloud Workload Protection Market Overview
According to a comprehensive research report by Market Research Future (MRFR), "global Cloud Workload Protection Market Analysis by Component, By Service, By Organization Size, By Deployment Model, By Vertical – Forecast till 2030. The global cloud workload protection market is likely to garner significant traction during the current decade. The growing demand for these solutions from organizations of all sizes would drive market growth. Market Research Future (MRFR) asserts that the global cloud workload protection market valuation is expected to reach approx. USD 26.4 billion by 2030, growing at a 21.90% CAGR throughout the review period (2022-2030).
Companies are increasingly moving their business-critical workloads to the cloud as it increases employee flexibility and reduces IT costs. However, this raises concerns about security and visibility that can risk an organization's security. In such a scenario, cloud workload protection (CWP) helps to strike the right balance, supporting access while maintaining control to protect critical data.
Data breaches and security concerns are plaguing businesses with the insecurity of data and assets stored on the cloud. Therefore, organizations seek innovative security solutions that can enable them to secure their cloud infrastructure and workloads without compromising the speed/agility of their application development teams. They also look for solutions to enhance visibility, protect cloud workloads, streamline procurement, and simplify deployments.
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Global Cloud Workload Protection Market Report Scope:
| Report Metric | Details |
| Market Size | USD 26.4 Billion |
| CAGR | 21.90% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Key Market Opportunities | The workload is massive in growing enterprises. |
| Key Market Drivers | High Demand for Programmed Functionalities and Protected Data |
Industry Trends
Organizations that have embraced digital transformation & innovative automation solutions to remain competitive utilizing digital technologies and cloud computing create significant demand for cloud workload protection solutions. The proliferation of the cloud computing domain drives the cloud workload protection market, enabling new, complex business models and orchestrating more globally-based integration networks.
Additionally, the penetration of AI, cloud infrastructure, and critical cloud applications boost the cloud workload protection market size. Also, organizations targeting to overcome compliances and maintain strong compliance requirements substantiate the cloud workload protection market shares. Various cloud workload protection solutions, including data protection, cloud application discovery, analytics & reporting, and threat protection, foster the growth of the cloud workload protection market.
Segments
The cloud workload protection market is segmented into components, organization size, deployment models, and regions. The component segment is sub-segmented into solutions (vulnerability assessment, monitoring & logging, policy & compliance management, threat detection & incident response, and other solutions) and services (support & maintenance, training, consulting & integration, managed services, and other services).
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The organization size segment is sub-segmented into large enterprises and small & medium-sized enterprises. The deployment model segment is sub-segmented into public, private, and hybrid clouds. The vertical segment is sub-segmented into IT & telecommunications, banking, financial services & insurance (BFSI), and others. By regions, the market is segmented into the Asia-Pacific, North America, Europe, and the Rest-of-the-World.
Regional Analysis
North America dominates the global cloud workload protection market, headed by the increasing demand and adoption of cloud-enabled security infrastructure. The region offers a favorable platform for cloud workload protection solutions to evolve further due to vast technological advancements.
Besides, the increasing demand for data security solutions in the growing number of enterprises and the growing cloud computing market substantiate the region's cloud workload protection market shares. Also, factors such as the rapid adoption of AI and cloud computing are some of the significant driving forces contributing to the cloud workload protection market revenues in the region.
The cloud workload protection market in the European region accounts for the second-largest share globally. Vast technological advancements and the proliferation of artificial intelligence (AI) and intelligent connected devices are some of the major factors positively impacting the cloud workload protection market growth in the region.
Furthermore, the well-established cloud infrastructure in this region propels market rise, allowing faster implementation of advanced technologies. Rising incidences of cyber-attacks in the rapidly growing automotive and IT industry in this region escalate the cloud workload protection market value.
The Asia Pacific cloud workload protection market has emerged as a profitable space globally. The increasing number of businesses in developing countries inclined toward automation and IoT adoption fosters the cloud workload protection market growth. Moreover, the proliferation of artificial intelligence (AI), smart, connected, portable devices, and the burgeoning IT sector are major tailwinds. Also, the increasing number of prominent players in this market drives the growth of the APAC cloud workload protection market.
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Competitive Analysis
Fiercely competitive, the cloud workload protection market appears fragmented due to the strong presence of key market players. Matured players are substantially investing in transforming the business landscape in the future. Key players are incorporating strategic initiatives such as partnership, collaboration, acquisition, product & technology launch, and expansion to gain competitive advantage and thus stay ahead in this market.
Top companies are developing advanced security and data protection technologies to maintain themselves in the market competition. These market leaders are substantially investing in R&D to innovate new cloud-enabled workload security solutions. They invest heavily to support their expansion strategies and acquire small yet promising companies from emerging regions.
For instance, on Mar. 07, 2023, SentinelOne, a leading provider of autonomous cybersecurity platforms, announced a strategic partnership with a cloud security leader, Wiz, to deliver end-to-end cloud security. The partnership will enable SentinelOne to enhance customers' cloud security, combining its expertise in Cloud Workload Protection Platform (CWPP) and Wiz's Cloud Native Application Protection Platform (CNAPP).
The collective technology can be offered to organizations of all sizes and equip customers to reduce risk dramatically by detecting, preventing, investigating, and responding to cloud security threats. This best-of-breed cloud security solution can provide them with superior capabilities to solve their most complex security challenges with unprecedented simplicity, speed, and accuracy.
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Global cloud workload protection market Competitive Analysis
Key players leading the global cloud workload protection market include:
- Symantec Corporation (US)
- Micro Incorporated (Japan)
- Sophos Ltd (UK)
- McAfee Inc. (US)
- Guardicore (Israel)
- CLOUDPASSAGE (US)
- DOME9 SECURITY INC. (Israel)
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