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Cloud Security Market Size, Share, Analysis, 2027 | Industry Report

Cloud Security Market Analysis Report By Application, By Company Size, By Solution, By Deployment And Segment Forecasts From 2020 To 2027

Report ID: MN17620181  |  Published: October 2020  |  No of Pages: 138
Format: Electronic (PDF)  |  Industry: Computing & Technology  |  Publisher: Grand View Research

Industry Insights

The global cloud security market accounted for USD 7.1 billion in 2019 and projected to grow with the CAGR of 14.64% over the forecast period, from 2020 to 2027. Cloud security comprises policies, plans, and execution controls essential to protect and safeguard data, infrastructure, and compliance adherence related to the cloud.

Global cloud security market

Cloud is an internet-based resource, identity management, data protection, access control which comes under the purview of cloud security. With the hosted environment, it protects integrity and continuity at different levels such as infrastructure, application, platform, and software level.

The market is projected to witness significant growth over the forecast period due to the increasing number of smartphone and internet users. In addition, increasing deployment of hosted environments in SMEs and rising data and information security concerns among enterprises is fueling the market growth.

Technological advancement and developing trends such as the internet of things (IoT), Bring-Your-Own Devices (BYOD), and Bring-Your-Own-Application (BYOA) are also creating a need for data security. Currently, the market is in the nascent stage and is estimated to gain traction during the forecast period. The rapid adoption of hosted infrastructure across several industries and a growing number of cyber-attacks are driving the demand for cloud security across several verticals.

Application Insights

Based on application, the cloud security market is segmented into education, healthcare, financial services, government, media & entertainment, IT & telecom, and others. Financial services and IT & telecom sectors are expected to hold a dominant position in the market and are expected to retain their position throughout the forecast period.

The growing need for data repositories coupled with the criticality of information stored is driving the demand for cloud security in IT & telecom and financial services segments. In adoption, many governments across the globe shifted towards hosted infrastructure, thereby, the demand for this solution is expected to rise during the next few years.

Company Size Insights

Based on company size, the market is segmented into small & medium enterprises (SMEs) and large enterprises. SMEs are increasingly adopting cloud technology due to its several benefits such as lower costs, ease of access, scalability, and pay as per utilization policy. Growing adoption of cloud technology has increased the chances of cyber-attacks in SMEs, thereby,the market is expected to grow with the fastest CAGR during the forecast period for this segment.

Europe cloud security market

Large enterprises held the major market share in 2019. A wide range of operations of the large enterprise depend on cloud computing, thereby the number of cyber-attacks are growing within large organizations. To avoid data breaches, these enterprises are increasingly adopting cloud security solutions.

Solution Insights

By solution, the cloud security market is segmented into cloud identity/access management (IAM), email security, IDS/IPS, and DLP. Cloud IAM is expected to grow with a significant CAGR over the forecast period due to the increasing adoption of cloud-based services and rising concern for data safety.

Cloud services are shared resources, thereby several organizations are struggling with identity management which is expected to drive the demand for IAM solutions. Moreover, intrusion detection/prevention division is projected to witness healthy growth in the next few years.

Deployment Insights

On the basis of deployment, the market is fragmented into private, public, and hybrid. The public segment is projected to lead the market during the forecast period followed by the private segment. The rapid shift from conventional computing solutions to cloud computing is a key factor to drive the market growth in the private segment. Wherein, the hybrid is expected to gain traction over the forecast period due to its several benefits over private and public deployment.

Regional Insights

In 2019, North America dominated the market and accounted for the largest market share followed by Europe. Factors such as robust internet infrastructure, rapid technological advancements, and growing adoption of cloud infrastructure are majorly driving the market growth in North America and Europe.

Asia Pacific held a significant market share and expected to grow with a robust CAGR during the forecast period. Growing adoption of cloud platforms across several verticals has increased the need for cloud security in this region. In addition, rapid growth of infrastructure is also driving the need for cloud security.

Impact of COVID-19

During the outbreak of COVID-19, the cloud security market is expected to gain traction, as most of the employees are working from home due to government restrictions. This pandemic has surged the demand for cloud-based platforms among enterprises. Hence, the risk of data breaches and cyber-attacks has been also increased which is expected to enforce several end-use industries to opt cloud security solutions. The adoption of cloud security within organizations will help large organizations and SMEs to run their business operations efficiently.

Cloud Security Market Share Insights

The key players including CA Technologies, Intel Corp., Symantec Corp., TrendMicro, and IBM Corp. are focusing on collaborations, alliances with other players to strengthen their market position. New product developments and upgradation of existing products to fulfill industry demands are also key strategies implemented by industry players.

For instance, in June 2020, IBM has announced to buy cloud security startup Spanugo to boost the compliance and strengthen the data security of their clients in different industries.

Report Scope

Attribute

Details

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Revenue in USD Billion & CAGR from 2016 to 2027

Regional scope

North America, Europe, Asia Pacific, South America, MEA

Report coverage      

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, Mexico, U.K., Germany, China, India, Japan, Brazil, K.S.A, U.A.E

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Million Insights has segmented the global cloud security market report basis of application, company size, solution, deployment, and region:

• Application Outlook (Revenue, USD Billion, 2016 - 2027)
    • Financial Services
    • IT & Telecom
    • Government
    • Education
    • Healthcare
    • Media & Entertainment
    • Others

• Company Size Outlook (Revenue, USD Billion, 2016 - 2027)
    • Small & Medium Enterprises
    • Large Enterprises

• Solution Outlook (Revenue, USD Billion, 2016 - 2027)
    • Cloud IAM
    • Cloud Email Security
    • Cloud IDS/IPS
    • Cloud DLP

• Deployment Outlook (Revenue, USD Billion, 2016 - 2027)
    • Public
    • Private
    • Hybrid

• Regional Outlook (Revenue, USD Billion, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • The U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    • South America
        • Brazil
    • Middle East & Africa
        • K.S.A
        • U.A.E

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