Westford,USA, June 03, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Cloud Security market will attain a value of USD 147.45 billion by 2031, with a CAGR of 17.9% over the forecast period (2024-2031). The growing prevalence of cyberattacks and the rising use of cloud technologies and platforms are estimated to bolster the demand for cloud security over the coming years. The rise in the use of cloud computing and edge computing services is also a key factor promoting cloud security adoption around the world.
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Browse in-depth TOC on "Cloud Security Market"
- Pages - 157
- Tables - 128
- Figures – 77
Cloud Security Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 39.5 billion |
| Estimated Value by 2031 | $ 147.45 billion |
| Growth Rate | Poised to grow at a CAGR of 17.9% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Security Type, Enterprise Size, End-User, Service Model, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Integration of advanced technologies such as AI and ML to improve security |
| Key Market Drivers | Rising incidence of cyberattacks on cloud platforms |
High Adoption of Cloud Platforms by Large Enterprises Allows them to Dominate the Market
Large enterprises have been at the forefront of cloud technology adoption to reduce their operational costs and optimize resource utilization. High investments of large enterprises in cloud adoption are also bolstering the demand for new cloud security measures to keep their data safe and private.
Increasing Emphasis on Data Protection and Preservation Boosts Demand for Data Loss Prevention (DLP) Security Measures
Data is the currency of the digital world and loss of the same would be equivalent to monetary loss. Increasing efforts to prevent data loss through cyberattacks and data breaches on cloud platforms will foster new demand for data loss prevention security measures in the long run.
High Investments in the Development of Novel Security Measures Allowing North America to Hold a High Market Share
Governments as well as private organizations in the North American region are investing heavily in bolstering their digital security through the development of novel cybersecurity measures such as cloud security. High adoption of cloud platforms and rising availability of innovative cloud security solutions are also helping market growth. Canada and the United States are leading markets for cloud security in this region.
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Cloud Security Market Insights:
Drivers
- Growing prevalence of cyberattacks
- High adoption of cloud platforms and technologies
- Rising use of edge and cloud computing
Restraints
- High costs of development and deployment
- Increasing complexity of multi-cloud networks
Prominent Players in Cloud Security Market
- Cisco Systems
- IBM Corporation
- McAfee Inc.
- Symantec Corporation
- CA Technologies
- Fortinet Inc.
- TrendMicro Inc.
- Check Point Software Technologies
- Qualys Inc.
- Palo Alto Networks
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Key Questions Answered in Cloud Security Market Report
- What drives the global cloud security market growth?
- Who are the leading cloud security providers in the world?
- Which region leads the demand for cloud security in the world?
This report provides the following insights:
- Analysis of key drivers (growing prevalence of cyber attacks, high adoption of cloud platforms and technologies, increasing demand for cloud and edge computing), restraints (high costs of development and deployment of cloud security solutions, increasing complexity of multi-cloud networks), and opportunities (integration of advanced technologies such as AI and ML, rising use of Internet of Things (IoT) devices), influencing the growth of cloud Security market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Cloud Security market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
Related Reports:
Managed Security Services Market
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SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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