Pune, Sept. 29, 2020 (GLOBE NEWSWIRE) -- The global cloud security market size is projected to reach USD 1,545.6 million by the end of 2027. Recent technological advances in tools that allow integration of real-time cloud platforms will have a positive impact on market growth. According to a report published by Fortune Business Insights, titled “Cloud Security Market Size, Share & COVID-19 Impact Analysis, By Application (Identity and Access Management, Email and Web Security, Data Encryption and Prevention, Threat Intelligence, Monitoring and Prevention, and Others), By Security Type (Workload Security, Network Security, Platform Security, Application Security, EndPoint Security, and Others), By Enterprise (Large Enterprises, SMEs), By Deployment (Public, Hybrid, Private), By End-User (IT and Telecom, BFSI, Healthcare and Life Sciences, Manufacturing, Retail, Government, Energy and Utilities, Others), and Regional Forecast, 2020-2027,” the market was worth USD 578.4 million in 2019 and will exhibit a CAGR of 13.2% during the forecast period 2020-2027.
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Cloud security is essential for securing any form of data that is either transferred through cloud gateways or stored on cloud platforms. Accounting to the increasing adoption of cloud servers across the world, there is a subsequent need for efficient security tools. The increasing internet penetration has had a huge impact on the growth of the overall cloud security market in recent years and recent technological advances will give the platform for vendors across the world. The availability of low cost as well as free cloud platforms has contributed to the growing adoption in several countries across the world. The increasing investments in security and reliability of data transmission over clouds will bode well for the growth of the global market in the foreseeable future.
Surge in Product Demand During the Covid-19 Pandemic will Emerge in Favor of Market Growth
The recent coronavirus outbreak has had a daunting impact on several industries across the world. With most companies suffering economically, the efforts taken to curb the spread of the disease will add to the woes. Having said that, it has been a contrasting case for online vendors. As most companies are looking to operate through online platforms, the demand for cloud tools has gone up significantly in the past few months. The increasing adoption of cloud platforms will subsequently create several growth opportunities for the companies operating in the global cloud security market in the coming years.
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Increasing Number of Company Mergers will have a Positive Impact on Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factor, the increasing number of company mergers and acquisitions has made the highest impact on market growth. Due to healthy market competition, companies are looking to adopt newer strategies with the aim of expanding acquire a wider global consumer base. In October 2019, Trend Microo Incorporated announced that it has completed the acquisition of Cloud Conformity, Inc. The company announced that it has acquired the company for around $70 million, a sum that is indicative of the potential of cloud security across the world. Through this acquisition, the company will look to enhances its offerings in the cloud security space and subsequently acquire a wider consumer base on a global scale.
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North America to Emerge Dominant in the Global Market; Massive R&D Spending has Yielded Several Innovative Software Products
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The high capital expenditures in the regional IT sector have created a huge platform for the companies operating in this region. The increasing investments in R&D of software based products have resulted in an increased adoption of cloud-based platforms. Additionally, the presence of several IT companies, especially in the United States, will also contribute to the growth of the regional market. As of 2019, the market in North America was worth USD 188.3 million and this value is projected to rise at a considerable pace in the coming years.
List of Key companies profiled in Cloud Security Market report:
- Microsoft Corporation (Washington, United States)
- CISCO SYSTEMS, INC. (California, United States)
- IBM Corporation (New York, United States)
- Palo Alto Networks, Inc. (California, United States)
- Broadcom Inc. (California, United States)
- VMware, Inc. (California, United States)
- QUALYS, INC. (California, United States)
- Trend Micro Incorporated (Tokyo, Japan)
- ZSCALER, INC. (California, United States)
- Check Point Software Technologies (Tel Aviv-Yafo, Israel)
- Proofpoint Inc. (California, United States)
- Cloudflare, Inc. (California, United States)
- Fortinet, Inc. (California, United States)
- Foreseeti (Stockholm, Sweden)
- McAfee, Inc. (California, United States)
- Sophos Ltd. (Abingdon, United Kingdom)
- Panda Security (Bilbao, Spain)
- Bitglass, Inc. (California, United States)
- Imperva (California, United States)
- Aqua Security Software Ltd. (Ramat Gan, Israel)
- Barracuda Networks, Inc. (California, United States)
Industry Developments:
October 2019– McAfee Inc., announced the launch of McAfee MVISION Insights, a product that will help organizations move towards a proactive action-oriented security approach by identifying threats.
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Detailed Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Market Share Analysis and Matrix, 2019
- Key Market Insights and Analysis, By Segments
- Global Cloud Security Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Application (Value)
- Cloud Identity and Access Management (IAM)
- Email and Web Security
- Data Encryption and prevention
- Threat Intelligence, Monitoring and Prevention
- Others (Firewalls, Operations Management, etc.)
- By Security Type (Value)
- Workload Security
- Network Security
- Platform Security
- Application Security
- EndPoint Security
- Other (Hardware, Data, Etc.)
- By Enterprise Size (Value)
- Large Enterprises
- Small and Medium Sized Enterprises (SMEs)
- By Deployment Model (Value)
- Public
- Hybrid
- Private
- By End-User (Value)
- IT and Telecommunications
- Banking, Finance, Security and Insurance (BFSI)
- Healthcare and Life Sciences
- Manufacturing
- Retail
- Government
- Energy and Utilities
- Others (Energy and Utilities, Government, Others)
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Application (Value)
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Have a Look at Related Research Insights:
Network Security Market Size, Share & Industry Analysis, By Type(Firewalls, Antivirus and antimalware software, VPN, Data loss prevention, Intrusion prevention systems, Wireless security, Others), By Enterprise Size (SMEs and Large Enterprises), By Deployment (Cloud, On-premises), By Industry (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing, Travel and Transportation), and Regional Forecast, 2020-2027
Cyber Security Market Size, Share & Industry Analysis, By Solution (Network Security, Cloud Application Security, End-point Security, Secure Web Gateway, Internet Security), By Deployment Type (Cloud and On Premise), By Enterprise Size (Small & Medium Enterprise and Large Enterprise), By End-Use (BFSI, IT and Telecommunications, Retail, Healthcare, Government, Manufacturing) and Region Forecast, 2020-2027
Security Solutions Market Size, Share and Industry Analysis, By Type [(Product: Fire Protection, Video Surveillance, Access Control, Entrance Control, Intruder Alarms, Thermal Cameras) and Services: Security Systems Integration, Remote Monitoring Services, Fire Protection Services, Video Surveillance Services], By End-User (Commercial, Residential, Industrial, Government), and Regional Forecast, 2019- 2026
Security Analytics Market Size, Share & Industry Analysis, By Component (Solutions, and Services), By Application (Network Security Analytics, Web Security Analytics, Endpoint Security Analytics, and Application Security Analytics), By Vertical (BFSI, Government and Defense, IT and Telecommunication, Manufacturing, Healthcare, Energy and Utilities, and Others), and Regional Forecast, 2020-2027
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