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Cloud Security Market

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The cloud security market is expected to reach US$11.8 bn by the end of 2022. It is expanding at a brilliant CAGR of 12.80% within a forecast period from 2015 to 2022, after being calculated at US$4.5 bn in 2014.
Cloud Security Market to Extent an Assessed Value of US$11.8 bn by the end of 2022
The competitive landscape of the global cloud security market is likely to become more
intense over the coming years, owing to the increasing demand for cloud computing
solutions and the entrance of new players due to surmountable entry barriers. According to
a research report released by Transparency Market Research, the leading players in the
global cloud security market – including Symantec Corporation, Intel Security Group, and
CA Technologies, Inc. – are consolidating their position by expanding their roles and
offerings.
According to the TMR report, the leading players in the global cloud security market are
also focusing on inorganic growth through mergers and acquisitions. The larger players in
the market take up assets and roles of the smaller ones in order to expand their own
offerings and business scope across a wider geographic presence. Trustwave Holding,
Inc., for example, offers a host of cloud security services such as network access, web,
SIEM, email, and encryption software. Trustwave Inc. acquired Cenzic, Inc., in 2014 in an
attempt to solidify its cloud security business. In April 2015, the company acquired
Singapore Telecommunications Limited (Singtel) to boost its business and expand market
share of the company in the cloud security market over the coming years.
The cloud security market is expected to reach US$11.8 bn by the end of 2022. It is
expanding at a brilliant CAGR of 12.80% within a forecast period from 2015 to 2022, after
being calculated at US$4.5 bn in 2014.
North America was the leading region in the global cloud security market for 2014, a factor
attributed to the large scale and early adoption of cloud services by industries in this
region. It is likely for North America to remain a fruitful location for players of all sizes in the
global cloud security market, while Asia Pacific shows a significant spike in demand for
these services. The gain in demand for cloud security services in APAC is extremely likely
to continue surging over the coming years.
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The IT and telecom industries have been the key industries making use of cloud security
services in a large scale, and will continue doing so over the coming years. Data loss
prevention was found to be the leading segment in the global cloud security market on the
basis of service type, in 2014.
“The IT and telecom industries and their associated enterprises are swiftly adopting cloud
platforms for all sorts of functions and processes. The advantages of using cloud
computing far outweigh the negatives and risks of it as far as small and medium sized
businesses are concerned, but that does not allow cloud service providers to be lax on
security measures. To counter the growth issues of loss of data integrity and data theft,
data security providers are stepping up to the plate. The need for cloud security today is
being compounded by the growing demand for flexible operations as well as the massively
popular bring-your-own-device culture,” states a TMR analyst.
Two of the key factors inhibiting the cloud security market at the moment, are the lack of
awareness among companies and clients regarding the need for security services such as
data loss prevention. The second factor is the as of yet skeptical nature of clients that are
in the know, regarding the use of cloud computing platforms. Several companies,
regardless of economic nature, are showing a high level of aversion to using third party
applications and servers, despite knowing the savings in space and cost they could gain.
This is consequently hindering the uptake of cloud security services.
Author
ashutosh
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market, Global Cloud Security Market
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