The worldwide cloud security market to reach USD 12.64 billion by 2024, driven by the increasing usage of cloud services for information storage and suppressing advances of cyber-attacks. It can be a item or service focused on the security of compliance, governance and data protection.
Cloud-based services for information storage have increased over the past few years. Business are moving their data to these servers owing to versatility and cost conserving. It is likewise utilized in non-traditional sectors such as online gaming and social media due to high storage area.
Cloud identity & access management were widely used followed by e-mail & web security owing to increasing need for top-level security of data https://secur01.com/ and identity security in companies. Civil service held 35.6% of the marketplace share in 2016 owing to its strong security track record and openness of leading cloud providers. Nevertheless, hybrid release is approximated to be the fastest growing market owing to cost-saving model, improved security, and improved organizational performance.
Demand for security services in federal government agencies, health care, banking, insurance coverage, and e-commerce has been increasing as a outcome of the rising incidence of cyber-attacks. Large-scale business are progressively adopting cloud security services owing to frequent attacks on data. Small & medium scale enterprises are estimated to reveal significant growth at a CAGR 35.1% over the forecast period as there is increased awareness of security threats.
North America is the major earnings generator owing to sophisticated IT facilities and existence of a large number of cloud security companies in this region. European nations such as the U.K., France, and Germany are essential user countries of these options. Asia Pacific is expected to witness a double-digit growth over the projection duration owing to increasing IT infrastructure.
Cloud Security Alliance, a Non-Profit Organisation, was established in 2008 to promote finest practices for security in the space. The organization offers education for security in all forms of cloud services. Lack of awareness about security, irregular network connections in establishing countries and lack of appropriate requirements are limiting factors for the cloud security market.
Active business in the market are embracing the strategy of merger & acquisition. In 2016, Symantec acquired Blue Coat to expand its operation in cybersecurity area.
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Hexa Research has segmented the global cloud security market based on type, end user, release, vertical and region:
Division by Type, 2014 - 2024 (USD Million).
Cloud Identity & Gain Access To Management.
Data Loss Prevention (log & SIEM).
Email & Web Security.
Cloud Database Security (Virtualisation).
Cloud File encryption.
Network Security ( Firewall Software).
Segmentation by End User, 2014 - 2024 (USD Million).
Massive enterprises.
Small & medium scale business.
Segmentation by Implementation, 2014 - 2024 (USD Million).
Public.
Personal.
Hybrid.
Division by Vertical, 2014 - 2024 (USD Million).
Healthcare.
BFSI.
IT & Telecom.
Federal government.
Retail.
Others.
Cloud identity & access management were widely utilized followed by e-mail & web security owing to increasing demand for top-level security of information and identity security in companies. Public services held 35.6% of the market share in 2016 owing to its strong security track record and openness of leading cloud suppliers. Large-scale business are significantly adopting cloud security services owing to frequent attacks on information. The organization supplies education for security in all kinds of cloud services. Lack of awareness about security, irregular network connections in developing countries and absence of correct standards are limiting aspects for the cloud security market.