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Numerous noteworthy changes are changing the face of the cloud security sector. A greater focus on zero-trust security is one such development. In the past, security models worked under the presumption that one could trust everything on an organization's network. In the cloud security space, the growing use of Secure Access Service Edge solutions is another noteworthy development. A move toward a more comprehensive and cloud-centric security strategy is reflected in SASE, which combines network security features with WAN features to serve enterprises' dynamic and safe access needs.
Market trends are also being shaped by the growing use of multi-cloud setups. Utilizing a variety of cloud service providers allows many firms to address a range of business demands while reducing the risk associated with vendor lock-in. As businesses look for more proactive and adaptable methods for threat detection and response, the use of AI and algorithmic learning within security solutions for the cloud is becoming more and more popular. Security systems can now analyze enormous volumes of data, spot patterns, and anticipate possible security issues before they happen thanks to AI and ML technology. This pattern reflects a larger industry move to improve the effectiveness and efficacy of cloud security measures by utilizing cutting-edge technologies.
The lack of cybersecurity expertise is also having an impact on the market. It can be difficult for many firms to hire and retain qualified cybersecurity specialists. Consequently, an increasing dependence on automated solutions and managed security services is observed to bridge the knowledge gap. The market is moving toward more automated and user-friendly security solutions because of this trend, allowing businesses to strengthen their safety record without requiring a high level of internal expertise.
Adoption of threat surveillance and data sharing throughout the cloud security sector is also influenced by the changing threat landscape. This pattern emphasizes the value of a team-based and collaborative approach to cybersecurity, encouraging a community-driven defense against changing threats. The future of cloud security is being shaped by several themes, including the adoption of Zero Trust Security and SASE solutions, the integration of AI and ML, the growing multi-cloud environment, regulatory consideration, a lack of talent, and coordinated threat intelligence sharing. It becomes essential to keep up with these trends as enterprises negotiate the complexity of the digital ecosystem to guarantee a strong and flexible strategy to cloud security.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Increased Adoption of Cloud Computing |
| Market Dynamics | Rising Focus of Key Manufacturers Towards Cloud Computing SecurityRising Adoption of Analytics-as-a-Service |
Cloud Security Market Highlights:
Global Cloud Security Market Overview:
Cloud Security Market Size was valued at USD 30438.04 million in 2023. The Cloud Security market industry is projected to grow from USD 35913.58 million in 2024 to USD 110550.19 million by 2032, exhibiting a compound annual growth rate (CAGR) of 15.09% during the forecast period (2024 - 2032). Because of the cloud's vulnerability to hackers, cloud security is improving. This information is utilized to transfer the massive volumes of information that drove the biggest boom in the cloud security industry in various industries, including telecom and IT departments, contributing to the market drivers during the forecast period.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Cloud Security Market Trends
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Rising Impact of Software-as-a-Service to boost the market growth
During the analysis period, the effect of COVID-19 is anticipated to lead to noticeably high growth in this market. This results from the adoption of cloud security solutions significantly accelerating, aided by the rapid uptake of cloud-based solutions. The organization's operating model is predicted to be disrupted by the software-as-a-service concept. The use of containers is projected to expand due to the COVID-19 influence on corporate operations, which will guarantee to raise demand for reliable security solutions.
The cloud's scalability and smooth user experience are credited for the continually growing trend in demand for hybrid clouds. Moreover, serverless computing and rising DevOps productivity will probably fuel market expansion. Similar to this, enterprises have reported moving more workloads from on-premises and data centers to the cloud in response to COVID-19. As a result, security concerns are expected to stay high as public cloud computing adoption keeps growing in response to the COVID crisis, hastening the transition to remote work settings. Crypto-jacking attacks in the cloud are caused by the fluctuating value of cryptocurrencies designed with superior decision-making capabilities. For instance, CoinStomp is malware made up of shell scripts that try to mine bitcoin via cloud computing instances maintained by network security providers. Users and providers of IT security have the chance to put the required safeguards in place. A declining trend in the availability of public cloud storage services shows that businesses are taking precautions to solve security issues. Therefore, such applications in cryptocurrencies have recently enhanced the Cloud Security market CAGR globally.
The usage of containers in the IT sector has exploded in recent years. Numerous businesses use managed or native Kubernetes orchestration. Businesses use well-known managed cloud services like Amazon Elastic Container Service for Kubernetes, Azure Kubernetes Service, and Google Kubernetes Engine. The management, deployment, and scaling of containerized use cases are made simple for developers by such managed services platforms, which will contribute to the Cloud Security market revenue.
Cloud Security Market Segment Insights:
Cloud Security Deployment Insights
Based on deployment, the Cloud Security Market segmentation includes private, public, and hybrid. Hybrid cloud security held the majority share in 2022, contributing to around ~45-47% of the Cloud Security Market revenue. The market for hybrid solutions is anticipated to develop due to increased cyberattacks. A cyberattack is a harmful and intentional attempt by a person or group to access the data of another person or company. Companies utilize cybersecurity to reduce cyberattacks, and as a result, the cybersecurity market is more in demand as the number of attacks rises. For instance, the Indian Computer Emergency Response Team (CERT-In), a government agency with headquarters in India, reports that the number of cyberattacks in India jumped from 3.9 lakhs in 2019 to 11.5 lakhs in 2020.
October 2020: Google's cooperation with Cisco will combine SD-WAN with Google Cloud's global network, enabling clients to integrate WAN applications with cloud workloads fully.
Figure 2: Cloud Security Market, by Deployment, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Cloud Security Types Insights
Based on types, the Cloud Security Market segmentation includes virtualization, cloud database security, and network security. Cloud database security is anticipated to hold the largest market share in 2022. It will grow with the fastest growing CAGR during the forecast period owing to organizations' increased use of data security and network security solutions due to the increasing frequency of data breaches during the forecasted period for the cloud security market. DLP refers to a group of specialized solutions that use technology for exact data matching, classification, and fingerprinting to identify, safeguard, and monitor sensitive data in businesses. Hence, rising applications for cloud database security positively impact the market growth.
Cloud Security End-Users Insights
The Cloud Security Market data has been bifurcated by end-users into healthcare, retail, BFSI, and IT & Telecom. The IT and telecom sector is anticipated to have the largest market share. Exemplary efficiency and fast response times for mobile applications and linked devices needing strong security and privacy, 5G networks enable boundless communication. Telcos are extensively using the cloud's AI and data analytics capabilities.
October 2019: The McAfee MVISION was unveiled to assist businesses in rapid and accurate cyberattack response by providing actionable insights and specific security. The answer would facilitate global assault tracking, which will increase the footprint of the global Cloud Security industry.
Use of the cloud is a key approach advancing digital transformation in the retail sector. Strong security solutions are becoming necessary due to the stages of digital retail strategy, including siloed retail, connected retail, analytics-driven retail, and intelligent retail.
Cloud Security Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America Cloud Security market accounted for USD 11.5 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. By initiating various projects and incorporating research and development into the current solution offerings, government authorities and business actors in nations like the United States, Canada, and others are boosting their investment in security solutions.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Cloud Security Market SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Cloud Security market accounts for the second-largest market share due to the rising number of attacks on virtual private networks combined with increasing instances of remote access working. Further, the Germany Cloud Security market held the largest market share, and the UK Cloud Security market was the fastest-growing market in the European region
The Asia-Pacific Cloud Security Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to tightening legislation; government agencies and corporate companies in nations like China, Japan, India, Oceania, South Korea, South East Asia, and others are boosting their investments in cloud security. Moreover, China Cloud Security market held the largest market share, and the India Cloud Security market was the fastest-growing market in the Asia-Pacific region
For instance, India Cloud Security market is expected to expand at a rapid CAGR in the Asia Pacific region owing to the growing use of IoT-connected devices, rising incidents of cybercrimes and data breaches, and rising data-based technology adoption. There is a significant demand for cybersecurity solutions and services. With the pace of technological advancement and the frequent occurrences of lost critical corporate data, the cloud security market is anticipated to grow favorably. Additionally, the market infrastructure for cloud security has advanced significantly. By promoting awareness of the numerous cyber-attacks and providing incentives for customers to bring their own devices, the market is still being established in the Asian region.
Cloud Security Key Market Players & Competitive Insights
Major market players are making investments and providing financing to support R&D efforts so they may introduce novel treatment options to the marketplace. Businesses are also making efforts to enhance their market share through significant market developments like the introduction of new products, boosted investments, and joint ventures with other businesses. Participants in the sector of Cloud Security industry must provide more efficient solutions and aid in the security process.
One of the business strategies adopted by companies in the global Cloud Security industry is collaborating with research institutes to conduct studies The Cloud Security market major player such as Okta Inc. (US), Microsoft Corporation (US), Intel Corporation (US), Fortinet, Cisco Systems Inc. (the US), IBM Corporation (US) and others are working to expand the market demand by investing in research and development activities.
The headquarters of the American technology business Intel Corporation are in Santa Clara, California. It is one of the creators of the x86 series of instruction sets, which are the ones used in the majority of personal computers, and the largest manufacturer of semiconductor chips in the world by revenue (PCs). For nearly ten consecutive years, from the 2007 to 2016 fiscal years, Intel, the Delaware corporation, was placed No. 45 on the 2020 Fortune 500 ranking of the largest American firms by total revenue. Moreover, Intel produces motherboard chipsets, integrated circuits and network interface controllers, flash memory, graphics chips, embedded CPUs, and other computing and communication-related products.
The headquarters of the American global technology company Microsoft Corporation are in Redmond, Washington. The Windows family of operating systems, the Microsoft Office package, and the Internet Explorer and Edge web browsers are among Microsoft's most well-known software offerings. The Xbox video gaming consoles and the Microsoft Surface range of touchscreen personal PCs are its two main hardware offerings. Microsoft was the world's largest software company by revenue as of 2019; it was placed No. 21 in the Fortune 500 rankings of the largest American firms by total revenue in 2020. Together with Alphabet (Google), Amazon, Apple, and Meta, it is one of the Big Five American technological firms.
Key Companies in the Cloud Security market include
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Okta Inc. (US)
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Microsoft Corporation (US)
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Intel Corporation (US)
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Fortinet
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Cisco Systems Inc. (the US)
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IBM Corporation (US)
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Symantec Corporation (US)
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Trend Micro Inc. (Japan)
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CA Technologies Inc.
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CloudPassage Company (US), among others
Cloud Security Industry Developments
Palo Alto Networks, Inc. agreed to buy Dig Security in October 2023, which is one of the leading providers of Data Security Posture Management (DSPM). Through this collaboration, Palo Alto Networks hopes to strengthen its security systems and counter both internal and external threats. Additionally, both firms’ main objectives are observing, classifying, and finding sensitive data across all cloud data stores as well as controlling multi-cloud data.
In April 2023, Uptycs announced being able to collect and analyze GitHub audit logs and train identity information for Okta or Azure Active Directory to discover suspicious behavior when a developer checks code into/out-of repositories or builds it into production; this creates an "early warning system" so that security teams can stop attackers before they reach most valuable cloud services with crown jewel data.
Broadcom Inc. announced in April 2021 that Google Cloud and the company have partnered to increase cloud service penetration and speed up progress within Broadcom's core software businesses. As part of the partnership, Broadcom will offer its business operations and security software suite on Google Cloud, enabling companies to implement their own security, DevOps, and other solutions on the reliable global infrastructure of Google Cloud.
Verizon partnered with Google Cloud in December 2021, bringing cloud power nearer mobile edge computing (MEC) from Verizon’s network-connected bias. Using Verizon5G Edge together with Google Distributed Cloud Edge, Verizon plans to bring computing as well as storage facility services of Google at the edge of the original network so that it provides sufficient bandwidth plus low latency required for supporting real-time enterprise applications such as autonomous robots for mobility and smart logistics or factory automation.
Cloudflare Inc. unveiled its comprehensive suite focused on Advanced Securities. The package includes several sorts of insurance, including online SaaSs but not limited to them, together with private apps known as “Cloudflare One Data Protection Suite”. The suite enables streamlined compliance through Cloudflare’s Security Service Edge (SSE), mitigates exposure from loss of data and source codes, and provides an all-in-one security platform for developers and AI environments.
Cloud Security Market Segmentation:
Cloud Security Deployment Outlook
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Private
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Public
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Hybrid
Cloud Security Types Outlook
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Virtualization
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Cloud Database Security
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Network Security
Cloud Security End-User Outlook
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Healthcare
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Retail
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BFSI
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IT & Telecom
Cloud Security Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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- Rest of the World
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Middle East
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Africa
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Latin America
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