Dublin, June 03, 2024 (GLOBE NEWSWIRE) -- The "Cloud Security Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Cloud Security Market, is forecast to surpass US$46.18 billion in 2024, with strong revenue growth predicted through to 2034.
Cloud Security Has Emerged as a Critical Component of Modern Cybersecurity Strategies
Cloud security has emerged as a critical component of modern cybersecurity strategies, driven by the widespread adoption of cloud computing technologies across industries. The market is propelled by factors such as the increasing volume and sophistication of cyber threats, the growing adoption of cloud services by organizations seeking digital transformation, and stringent regulatory requirements governing data protection and privacy.
Amidst the evolving threat landscape and regulatory environment, organizations are prioritizing investments in cloud security solutions to safeguard their digital assets and ensure compliance with industry regulations. This heightened focus on security presents significant opportunities for market growth, particularly in geographical regions witnessing rapid cloud adoption and digital transformation initiatives. Expansion opportunities abound in regions like the Asia-Pacific, Latin America, and Middle East & Africa, where burgeoning cloud adoption rates and regulatory developments are driving demand for advanced security solutions.
However, the cloud security market also faces several challenges, including the complexity of securing distributed cloud environments, the shortage of skilled cybersecurity professionals, and the proliferation of sophisticated cyber threats such as ransomware and zero-day exploits. Additionally, concerns related to data privacy, sovereignty, and vendor lock-in pose challenges for organizations navigating the cloud security landscape.
Lack of Awareness Regarding Cloud Security Could Hinder Market Growth
The lack of awareness regarding cloud security poses a significant hindrance to market growth, as evidenced by findings from a recent Datto ransomware report. Despite escalating cyber threats, many small and medium-sized businesses (SMBs) are neglecting security awareness training initiatives. The report, based on a survey of nearly 3,000 IT professionals across eight countries, highlights a concerning trend where SMBs attribute their cybersecurity issues to a lack of training. While SMBs acknowledge the importance of addressing cyber threats and allocate resources to enhance network and cloud security, the absence of robust security awareness programs leaves them vulnerable to evolving threats. As SMBs increasingly rely on cloud services for their operations, the lack of awareness about cloud security best practices further exacerbates the risk landscape. Addressing this gap in awareness and prioritizing comprehensive security training initiatives is essential to bolstering the resilience of SMBs and fostering broader market growth in cloud security solutions.
Key Market Dynamics
Market Driving Factors
- Increasing Adoption of Multi-Cloud Environments Driving the Market Growth
- Growing Emergence of DevSecOps in the Cloud Environment
- Development of Cloud Computing Landscape Driving the Market Growth
Market Restraining Factors
- Lack of Awareness Regarding Cloud Security Hinder the Market Growth
- Compliance and Regulatory Challenges Hinder the Market Growth
- High Navigation Costs Hinder the Market Growth
Market Opportunities
- Investment in Cloud Security Market Opportunities for the Market Growth
- Collaboration and Partnership Between Market Players Opportunities for the Market
- Expansion of Market in Geographical Region Opportunities for the Market Growth
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising cloud security prices and recent developments.
Segments Covered in the Report
Market Segment by Component
- Solutions
- Services
Market Segment by Service Model
- Infrastructure as a Service (IAAS)
- Software as a Service (SAAS)
- Platform as a Service (PAAS)
Market Segment by Type
- Visibility and Risk Assessment
- Identity and Access Management (IAM)
- Data Security
- Disaster Recovery and Business Continuity
Market Segment by Solutions
- Cloud Access Security Broker (CASB)
- Cloud Workload Protection Platform (CWPP)
- Cloud Security Posture Management (CSPM)
- Cloud Detection and Response (CDR)
- Cloud Infrastructure Entitlement Management (CIEM)
Market Segment by Industry Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Retail
- Government & Defence
- IT & Telecommunication
- Other Verticals
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles and for some of the leading companies in the Cloud Security Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- Akamai Technologies, Inc.
- Amazon Web Services, Inc.
- Check Point Software Technologies Ltd
- Cisco Systems, Inc.
- Forcepoint LLC
- Fortinet, Inc.
- Google LLC
- Imperva Inc.
- International Business Machines Corporation
- Microsoft Corporation
- Proofpoint, Inc.
- Qualys, Inc.
- Trellix
- Trend Micro Inc.
- Zscaler, Inc.
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2034 for the Cloud Security Market, with forecasts for component, service model, type, solutions, and industry vertical, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Cloud Security Market.
For more information about this report visit https://www.researchandmarkets.com/r/ui0eh0
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