The worldwide cloud security market to reach USD 12.64 billion by 2024, driven by the increasing usage of cloud services for data storage and suppressing advances of cyber-attacks. It https://secur01.com/ can be a product or option focused on the security of compliance, governance and data defense.
Cloud-based services for data storage have actually increased over the past couple of years. In addition, companies are moving their data to these servers owing to flexibility and expense saving. It is likewise utilized in non-traditional sectors such as online video gaming and social media due to high storage space.
Cloud identity & gain access to management were commonly used followed by e-mail & web security owing to increasing demand for top-level security of data and identity security in companies. Civil service held 35.6% of the market share in 2016 owing to its strong security track record and transparency of leading cloud companies. Hybrid deployment is estimated to be the fastest growing market owing to cost-saving model, enhanced security, and boosted organizational performance.
Demand for security services in federal government firms, health care, insurance, banking, and e-commerce has been increasing as a outcome of the increasing occurrence of cyber-attacks. Large-scale business are progressively embracing cloud security services owing to regular attacks on information centers. Small & medium scale enterprises are approximated to show considerable development at a CAGR 35.1% over the forecast period as there is increased awareness of security risks.
North America is the major earnings generator owing to innovative IT facilities and presence of a large number of cloud security providers in this area. European countries such as the U.K., France, and Germany are essential user nations of these options. Asia Pacific is anticipated to witness a double-digit development over the projection duration owing to increasing IT facilities.
Cloud Security Alliance, a Non-Profit Organisation, was developed in 2008 to promote best practices for security in the area. The company provides education for security in all kinds of cloud services. Absence of awareness about security, inconsistent network connections in developing countries and lack of correct standards are restraining aspects for the cloud security market.
Active companies in the market are adopting the strategy of merger & acquisition. In 2016, Symantec obtained Blue Coat to expand its operation in cybersecurity area.
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Hexa Research has segmented the worldwide cloud security market based on type, end user, implementation, vertical and area:
Segmentation by Type, 2014 - 2024 (USD Million).
Cloud Identity & Gain Access To Management.
Information Loss Prevention (log & SIEM).
Email & Web Security.
Cloud Database Security (Virtualisation).
Network Security (Firewall).
Division by End User, 2014 - 2024 (USD Million).
Small & medium scale enterprises.
Segmentation by Release, 2014 - 2024 (USD Million).
Segmentation by Vertical, 2014 - 2024 (USD Million).
IT & Telecom.
Cloud identity & access management were commonly utilized followed by e-mail & web security owing to increasing demand for high-level security of data and identity security in organizations. Public services held 35.6% of the market share in 2016 owing to its strong security track record and transparency of leading cloud providers. Large-scale business are increasingly embracing cloud security services owing to regular attacks on information. The organization supplies education for security in all forms of cloud services. Lack of awareness about security, irregular network connections in establishing countries and lack of proper standards are limiting elements for the cloud security market.