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Increasing adoption of BYOD and IoT trends is expected to drive the cloud security marketThe Cloud Security Market size is expected to grow from USD 4.09 billion in 2017 to USD 12.73 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 25.5%. The cloud security market is driven by factors, such as increased adoption of Bring Your Own Device (BYOD) and Internet of Things (IoT0 trends, rise in adoption of cloud-based security solutions, increasing demand for cloud computing &increasing government initiatives, and emergence of smart cities. However, stringent government rules ®ulations, risk of information loss, and lack of trust on cloud service providers may restrict the cloud security market’s growth.
Key target audience of the cloud security market report is given below:
• Government Agencies
• Cloud Security Vendors
• Network Solution Providers
• Independent Software Vendors
• Consulting Firms
• System Integrators
• VARs
• Managed Security Service Providers (MSSPs)
“The study answers several questions for the stakeholders; primarily, which market segments to focus on in the next two to five years for prioritizing their efforts and investments.”
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The application security segment is expected to grow at the highest CAGR during the forecast period
The application security segment is expected to grow at the highest CAGR during the forecast period. However, the web and email security segment accounts for the largest share of the cloud security market in 2017. The hybrid cloud deployment type is expected to grow at the highest CAGR during the forecast period. The large enterprises segment is expected to account for the largest market size in 2017. Moreover, the small and medium-Sized Enterprises (SMEs) segment is expected to grow at the highest CAGR during the forecast period.
Organizations are deploying various cloud-based applications on their endpoints, resulting in the growth of high-profile attacks on applications. To secure the web and on-premises applications, organizations are continuously deploying cloud-based application security solutions. Thus, the application security type is expected to grow at the highest CAGR during the forecast period. However, the web and email security type is expected to have the largest market size in 2017.
The data center security segment is expected to grow at the highest CAGR during the forecast period
Software-as-a-Service (SaaS) service model is expected to dominate the cloud security market from 2017 to 2022 with the largest market share, due to the growing demand for cloud-based applications. Infrastructure-as-a-Service (IaaS) is expected to play a key role in the cloud security market and may grow at the highest growth rate during the forecast period, as it provides security capabilities on its own infrastructure.
Cloud security services have been deployed across various industry verticals, including Banking Financial Services, and Insurance (BFSI), aerospace & defense, automotive, energy & utilities, government & public utilities, healthcare & life sciences, IT & telecom, manufacturing, retail, and others. The retail vertical is expected to grow at the highest CAGR during the forecast period. However, the BFSI vertical is estimated to have the largest market size in 2017.
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Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period
APAC includes emerging economies, such as China, Australia, Singapore, and India, which are rapidly deploying cloud security solutions. APAC is expected to grow at the highest CAGR during the forecast period. This is mainly due to the increasing adoption of IoT and BYOD trends in many industry verticals, such as Banking, Financial Services, and Insurance (BFSI), government, Information Technology (IT) & telecom, manufacturing, healthcare, and retail.
The global cloud security market has been segmented on the basis of regions into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America to provide a region-specific analysis in the report. The North American region, followed by Europe, is expected to become the largest revenue-generating region for cloud security service vendors in 2017. This is mainly because, in the developed economies of the U.S. and Canada, there is high focus on innovations obtained from Research & Development (R&D) and security technologies.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation & technology directors, and executives from various key organizations operating in the cloud security market.
• By Company Type: Tier 1: 50%, Tier 2: 30%, and Tier 3: 20%
• By Designation: C-Level: 60%, Director Level: 20%, and Others: 20%
• By Region: North America: 15%, Europe: 15%, APAC: 40%, and RoW: 30%
The report includes the study of key players offering cloud security services, such as Trend Micro, Inc. (Tokyo, Japan), Intel Security (California, U.S.), Symantec Corporation (California, U.S.),IBM Corporation (New York, U.S.), Cisco systems (California, U.S.), CA Technologies, Inc. (New York, U.S.), CSC (Virginia, U.S.), and Fortinet, Inc. (California, U.S.).
Research Coverage :
The report covers the cloud security services across different verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, such as service type, security type, service model, deployment type, organization size, industry vertical, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product &business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report :
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall cloud security market and the sub segments. This report will help stakeholders understand the competitor landscape &gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Order a copy of Cloud Security Market by Service Type (IAM, DLP, IDS/IPS, SIEM, and Encryption), Security Type, Service Model (IaaS, PaaS, and SaaS), Deployment Type (Public, Private, and Hybrid), Organization Size, Vertical, and Region - Global Forecast to 2022 Research Report At:http://www.rnrmarketresearch.com/contacts/purchase?rname=171888
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