Global Cloud Security Market, Forecast 2028A Story by Kavita Krishna Cloud Security Market by Offering, Solutions, Services, Service Model, Type, Vertical, and Region - Global Forecast to 2028”under Services Goods Market Research Report Category. Bharat Book Bureau Provides the Trending Market Research Report on “Cloud Security Market by Offering, Solutions, Services, Service Model, Type, Vertical, and Region - Global Forecast to 2028”under Services Goods Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports. The global Cloud Security Market size is projected to grow from USD 40.7 billion in 2023 to USD 62.9 billion by 2028 at a CAGR of 9.1% during the forecast period. The market growth in cloud security is fueled by various factors, including the high adoption of multi-cloud environments, the growing usage of advanced technologies such as AI and ML for cloud security, the increment in the BYOD and CYOD trends, the growth of DevSecOps approaches and practices, and increasing adoption of multi-cloud environments. 
“By type, the Data Security segment will grow at the largest market size during the forecast period.” Data Security holds the highest CAGR during the forecasted period in the cloud security market as it has grown rapidly with more businesses using cloud services to store their data. As cyber-attacks and data breaches increase, companies want better cloud information protection. There are also strict laws about data privacy that companies must follow. Additionally, with more people working remotely, securing data in the cloud has become even more important. Cloud providers and other companies offer specialized security solutions to keep data safe in the cloud. All these reasons have led to a significant increase in the demand for cloud data security, making it the fastest-growing segment in the market. “By vertical, the BFSI segment will grow at the largest market size during the forecast period.” The BFSI (Banking, Financial Services, and Insurance) vertical deals with a vast amount of sensitive customer financial data, making data security a critical concern. To maintain the security of the critical data and the trust of its customers and comply with stringent industry regulations such as GDPR, PCI DSS, and SOX, financial institutions are keen on investing in robust cloud security solutions. Moreover, the increasing adoption of cloud technology within the BFSI industry further drives the demand for cloud security solutions. Cloud-based services offer flexibility, scalability, and cost-efficiency, prompting banks, financial firms, and insurance companies to embrace cloud infrastructure for their operations. However, this digital transformation also brings security challenges, necessitating advanced cloud security measures to protect against data breaches, cyber threats, and unauthorized access. To address these concerns, the BFSI sector is actively seeking comprehensive cloud security solutions to safeguard their valuable data and ensure compliance with industry regulations, solidifying its position as the largest market segment in the cloud security industry. “North America is expected to account for the largest market size during the forecasted period.” North America leads the cloud security market due to its robust regulatory environment and advanced cloud adoption practices. Organizations in the region prioritize data protection, leading to increased adoption of cloud security measures like encryption and data threat protection. A study revealed a high incidence of cloud-related security incidents in North America, emphasizing the need for strong security controls. The public and private sectors also collaborate to develop guidelines and innovative solutions, while public-private partnerships promote knowledge sharing and threat intelligence. Moreover, stringent data protection regulations and several key players, startups, and SMEs in the region offering advanced cloud security solutions and services reinforce North America’s dominant position during the forecasted period in the cloud security market. “Asia Pacific is anticipated to account for the highest CAGR during the forecasted period.” The Asia Pacific region is experiencing significant digital transformation, with businesses and governments’ rapid adoption of cloud-based technologies. As more organizations shift their operations to the cloud, the demand for robust cloud security solutions increases. Secondly, the Asia Pacific region is witnessing a surge in cybersecurity threats and attacks, leading to a growing awareness of the importance of cloud security. This heightened concern for data protection and privacy drives businesses to invest in advanced cloud security measures to safeguard sensitive information. Moreover, the region’s economic growth and increasing investments in IT infrastructure contribute to the expansion of cloud-based services. As companies modernize their operations and embrace cloud computing, adequate cloud security becomes even more critical to mitigate potential risks. Additionally, governments in the Asia Pacific are implementing stringent data protection regulations, compelling organizations to prioritize cloud security compliance. This regulatory push encourages businesses to adopt robust cloud security solutions to meet compliance requirements. Furthermore, the region’s vast population and growing internet penetration create a fertile ground for cloud services adoption; as more individuals and businesses rely on cloud-based platforms and applications, the demand for secure cloud environments escalates, driving the cloud security market’s growth. Breakdown of primaries The break-up of the primaries is as follows: The key vendors in the global cloud security market include IBM (US), Broadcom (US), Check Point (Israel and US), Google (US), AWS (US), Zscaler (US), Akamai Technologies (US), Forcepoint (US), Fortinet (US), F5 (US), Qualys (US), TrendMicro (Japan), Palo Alto Networks (US), Proofpoint (US), Tenable (US), Netskope (US), Microsoft (US), Cisco (US), Imperva (US), Trellix (US), Rapid7 (US), Skyhigh Security (US), FireMon (US), Sysdig (US), LookOut (US), Fidelis Cybersecurity (US), DataTheorem (US), OpsCompass (US), Tufin (US), Menlo Security (US), Tigera (US), Orca Security (US), Ascend Technologies (US), Secberus (US), Ermetic (Israel), Sonrai Security (US), Wiz (US), Caveonix (US), Banyan cloud (US), and AccuKnox (US). The study includes in-depth competitive intelligence covering company profiles, recent developments, and key market strategies. Research Coverage Key Benefits of Buying the Report The report provides insights on the following pointers: Browse our full report with Table of Content : Contact us at: © 2023 Kavita Krishna |
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Added on August 24, 2023 Last Updated on August 24, 2023 Tags: cloud security market region Author
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