Cloud Security Market Size, Share, Key Players, Growth Trend, and Forecast, 2020

The global cloud security market is expected to reach USD 32.39 Billion by 2027. Escalating BYOD (Bring Your Own Device) trend in various organizations is driving the growth of the cloud security market. BYOD helps in reducing hardware procuring and maintenance, which is beneficial in reducing organizational cost. Nevertheless, the key challenge with BYOD is providing security to a wide variety of devices, thereby persuading enterprises to opt for SaaS solutions as they have the capability to offer enhanced data security and reducing the chances of user error. According to a study conducted in 2018, around 59.0% of firms allow employees to bring their own devices at work, and around 13.0% propose to go for it in the future. According to another study, about 87.0% of companies let employees access business apps via their personal devices.

A rise in the rate of cybercrimes, owing to a growth in digitalization, is driving the market demand. Cybercrimes have witnessed a rapid growth, thus, leading to a growing need for cloud security solutions. Moreover, the instances data theft cases have seen an exponential rise in the last couple of years, attributed to an increased digital content generation and inappropriate security measures to protect corporate and financial data. Financial Intuitions and IT telecom are the industries that are most targeted by cybercriminals.

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Further key findings from the report suggest

By service model, software-as-a-service (SaaS) contributed to the largest market share in 2019 and is expected to grow at a rate of 22.1% in the forecast period. SaaS solutions exist in cloud environments that are integrated with other SaaS offerings and can be scaled. Also, it removes the upfront cost associated with purchase/installation, along with on-going expenses such as maintenance and upgrades.
By service type, application security is projected it witness the fastest growth rate of 24.3% in the forecast period. Increasing cyber threats and organizational employees' often storing and sharing data in cloud applications is driving the demand for this service type.
By deployment type, public cloud dominated the market in 2019. The key benefits of government public cloud is that big players in the market offer excellent security available in the market, modern technology, controlled access, and regular penetration testing, among others.
By organization size, large organization held a larger market share of over 60.0% in 2019.
By application, the BFSI industry contributed to the largest market share in 2019 and is estimated to grow at a rate of 22.3% in the forecast period. A rise in cyber-threat is driving the demand for cloud security for financial institutions, as well as the breached data exposes opportunities for instant and future crimes. The cloud security offers a very high level of data protection, particularly for sensitive data that comprises customer information.
The market in the Asia Pacific region is projected to grow at the fastest rate of 23.9% in the forecast period, attributed to a growing deployment of the technology in several applications due to several factors such as the prevalence of BYOD trend in several enterprises in the region.
Key participants include IBM Corporation, Cisco Systems Inc., Fortinet Inc., BMC Software Inc., Intel Corp., McAfee, Sophos Ltd., Symantec Corporation, VMware, and Trend Micro Inc., among others.

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Cloud Security Market Segmentation:

Service Model Outlook (Revenue, USD Million; 2017-2027)

Infrastructure-as-a-Service (IaaS)
Software-as-a-Service (SaaS)
Platform-as-a-Service (PaaS)

Service Type Outlook (Revenue, USD Million; 2017-2027)

Application Security
Endpoint Security
Database Security
Network Security
Web Email Security

Deployment Type Outlook (Revenue, USD Million; 2017-2027)

Private Cloud
Public Cloud
Hybrid Cloud

Organization Type Outlook (Revenue, USD Million; 2017-2027)

Small Medium Sized Enterprises
Large Enterprises

Application Outlook (Revenue, USD Million; 2017-2027)

BFSI
IT Telecom
Government
Healthcare
Education
Media Entertainment
Others

Regional analysis covers:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In addition to corporate strategy, Cloud Security market throws light on different properties to curb the progress of fuel or industry. The focus is more on applicable sales strategies to increase the company’s productivity to achieve higher economic performance. It also covers research and development activities, online and offline activities, the latest product launches, and some of the competitive expansion adopted by major global companies. Research reports use effective graphical presentation techniques such as tables, charts, graphs, diagrams, and info graphics.

Key Highlights of the Cloud Security Market Report:

Extensive research of growth patterns, market size and share, top companies, and key segments of the global Cloud Security market
Detailed information on market trends, driving factors, restraining factors, product segmentation, and industry chain analysis
Thorough regional analysis and competitive landscape
Key statistical data organized in tables, charts, figures, and other pictorial representation
SWOT analysis and Porter’s Five Forces analysis for each key player

Table of Content:

Global Cloud Security Market Overview
Economic Impact on Industry
Market Competition by Manufacturers
Production, Revenue (Value) by Region
Market Effect Factors Analysis
Industrial Chain, Sourcing Strategy and Downstream Buyers
Supply (Production), Consumption, Export, Import by Regions
Production, Revenue (Value), Price Trend by Type
Global Cloud Security Market Forecast
Global Cloud Security Market Analysis by Application
Manufacturing Cost Analysis
Marketing Strategy Analysis, Distributors/Traders
Research Finding/ Conclusion
Appendix

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Finally, all aspects of the Cloud Security market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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