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Multi-Cloud Security Market Size By Offering (Solution, Service), By Security Type (Data and Storage Security, Identity and Access Management (IAM), Disaster Recovery, Governance, Compliance), By Organization Size (Large Enterprises, SMEs), By End-Use (IT &Telecommunication, BFSI, Healthcare, Retail, Manufacturing, Government & Public Enterprises), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5436
  • Published Date: Feb 2023
  • Report Format: PDF

Industry Statistics

Multi-Cloud Security Market size surpassed USD 5 billion in 2022 and is anticipated to witness 15% CAGR from 2023 to 2032.

Multi-Cloud Security Market

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 Robust demand for multi-cloud security from OTT services like Amazon Prime, Netflix, and HBO is expected to drive the industry growth. During the COVID-19 pandemic, OTT platforms observed a significant rise in number of subscription rates. As per a report, global streaming company Netflix recorded a 30% increase in engagement or watch time and a 25% rise in revenues in India. OTT streaming companies are seeking to improve the security of their platforms as they offer unique and distinctive content to the public. The expansion of the OTT streaming platforms will influence the market development.

The increasing number of cyber-attacks and cybersecurity issues is influencing the adoption of multi-cloud security solutions. It becomes increasingly difficult in multi-cloud environments for user access control management. Furthermore, using multi-cloud security that is managed by a third party increases the security cost. High expenditure over configuring security systems in order to access and secure more than one cloud customer would hamper the multi-cloud security market outlook.

Strategic partnerships to develop multi-cloud security solutions

Multi-Cloud Security Market Share By Offering

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The solution offering segment captured 66% of the industry share in 2022. New partnerships for the development of cloud security solutions have driven the market demand. For instance, in June 2022, Distology announced its alliance with three specialized multi-cloud cybersecurity suppliers. Aimed to ensure these technologies can adapt to the cybersecurity requirement of organizations, the new multi-cloud security solutions portfolio would help to protect a progressive digital infrastructure across a multi-cloud landscape.

Rising cybersecurity issues to influence uptake of disaster recovery services


Authors: Preeti Wadhwani, Shamal Gawande

Frequently Asked Questions (FAQ) :

The market size of multi-cloud security crossed USD 5 billion in 2022 and is set to grow at a CAGR of 15% CAGR during 2023 to 2032.

The disaster recovery segment is expected to witness over 19% CAGR through 2032, as it allows companies to safeguard their data.

The market for multi-cloud security in North America valued at USD 2 billion in 2022, propelled by increasing innovation and software upgrades in networking and security.

The global industry is inclusive of players like Imperva, Amazon Web Services (Amazon), Atos SE, IBM Corporation, Proofpoint, Google Cloud, Microsoft Corporation, Fujitsu Ltd., and Cloud4C.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 329
  • Countries covered: 20
  • Pages: 230
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