Cloud Security Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2212
Cloud Security Market size is characterized by increasing popularity of cloud-based services and their adoption by SMEs, rising incidences of cyber-crimes, and concerns related to data security and confidentiality. Also, favorable government initiatives and regulations for enforcing and ensuring the adoption of cybersecurity measures are expected to contribute significantly to the cloud security market growth over the forecast period.
The need to reduce costs and improve responsiveness of IT infrastructure to frequent changes in business environment is driving enterprises to adopt cloud-based services. As a result, cloud service providers are experiencing an increasing need to offer a level of security to their customers internally for their in-house IT environment. In a multitenant environment, such security refers to offering security architectures which ensures that each customer’s data and applications are secure and isolated from those of the others. Data stored and processed over a cloud involves an inherent risk due to various factors. Some of these security concerns include protecting the confidentiality of data, ensuring regulatory and legal compliance, ensuring isolation, and maintaining access control.
Some of the key security management areas critical for securing services in the cloud are availability management, vulnerability management, access control, configuration management, system use and access monitoring, incident response and patch management. Availability management ensures the availability of the application at all times preventing any possibility of service outage that can severely hamper the organizations’ productivity, customer engagement and revenue. Access control function manages access requirements for an organizations’ privileged users who access the network and the system resources. Similarly, vulnerability management ensures the prevention of exploitation of infrastructure vulnerabilities related to the network services, applications and infrastructure components.
North America cloud security is expected to dominate the global revenue during the forecast period in terms of revenue owing to large scale adoption of cloud-based solutions and high level of investment in R&D by major market players operating in the region. On the other hand, Asia Pacific cloud security market is projected to witness accelerated growth throughout the forecast period due to increasing awareness and acceptance of cost-effective cloud-based solutions by emerging start-ups and SMEs operating in the region.
Some of the key players operating in the cloud security market are, IBM, Cisco, Intel, Fortinet, Trend Micro, Symantec, CSC, CA Technologies, BMC Software, Sophos and CloudPassage. These players focus on new product development and innovations in existing products to meet the rapidly changing market needs.
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