Markets and Markets : Global Cloud Security Market Expected To Reach $8.71 Billion by 2019 with a CAGR of 15.7 %
(M2 PressWIRE Via Acquire Media NewsEdge) The report "Cloud Security Market (Cloud IAM/IDAASS, DLP, Web Security, Email Security, Cloud IDS/IPS, SIEM, Encryption Services, BCDR, Network Security, Cloud Database Security, Virtualization Security) - Global Advancements, Forecasts & Analysis (2014-2019)" segments the global market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with insights into trends, opportunities, and challenges.
58 market data tables
14 figures spread through 146 pages
In-depth TOC on "Cloud Security Market - Global Advancements, Forecasts & Analysis (2014-2019)"
The increase inadoption of cloud computing, and growing demand for managed security services are playing a major role in shaping the future of cloud-based security services market. Even though there are various on-premise solutions available for all types of security,cloud security has become the prime importance for business who want to reduce CAPEX and support growing number of remote work force. Cloudvendors provide better security solutions and are compatible with the complex cloud processing. It also enables the companies to become cost-efficient, scalable and increase the business agility. The biggest playersin this market which contribute to the major market share are CA Technologies, IBM, Symantec, Symplified, Fortinet, McAfee, Sophos, Trend Micro, Zscaler, and Panda Security.
MarketsandMarkets has segmented the global cloudsecurity market by services: cloud IAM/IDaaS, data loss prevention, web security (WAF), email security, cloud IDS/IPS, SIEM (log management and analysis), encryption, BCDR, network security, cloud database security, and virtualization security; by deployment: public, private, and others (hybrid and community); by industry verticals: governmentand public utilities, IT and telecommunication, healthcare and life sciences, BFSI, retail, manufacturing, transportation and others; and by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA).
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The major forces driving this market are accelerated adoption of cloud computing, growing cloud specific attacks, absence of strict regulations on Cloud Service Providers (CSPs) and increase in need of identity and access management. The prime opportunity which is expected to boost this market is increase in adoption of cloud computing by Small and Medium Size Businesses (SMBs).
There are three types of vendors operating in Cloud Security market including pure play security vendors, traditional security solution providers and diversified IT vendors. However diversified IT vendors hold the majority of market share. These companies serve to diversified base of end users. Also these vendors have strong technological leadership and reseller networks. Although, these vendors may not have expertise in niche security areas, but they tend to acquire emerging companies to gain entry in to the market and eventually gain technological expertise in various security domains. Some of the well known companies in this segment are IBM, Novell and Symantec.
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MarketsandMarkets expects that the global cloud securitymarket is estimated to be $4.20 billion in 2014 and is expected to grow to $8.71 billion in 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 15.7% from 2014 to 2019. In the current scenario, NA is expected to be the largestmarket on the basis of spending and adoption for the cloud-based security services market. MarketsandMarkets further expects that the increase in the markets of identity and access management and managed security services in the developing economies will further enhance the growth of this market.
The global cloud Security market witnessed higher growth, particularly after 2010, when majority of organizations started adopting cloud services for cost cutting, agility and flexibility of IT infrastructure. Also, this era experienced the emergence of cloud specific threats. Hence to balance the migration to cloud services without compromising security led to adoption of cloud security solutions by various industries. Presently, the market is buoyed by other major factors also including increasing dependence on cloud based services, growing host servers, overall growth of SaaS applications and emergence of cloud specific threats such as web application attack, brute force, vulnerability scan, and malware and botnet attacks.
Security applications delivered as cloud-based services provide a promising platform to manage threat and security concerns. The cloud-based services are gaining popularity because of the unique benefits it provides to the users, such as agility, scalability, reduction in costs, business continuity, and flexibility of work practices.
Cloud security services have become crucial because it provides access to the most advanced security solutions. It addresses the most critical problems faced by the companies in the current work scenario, supporting the remote work force. As the number of mobile workers accessing the company's private network is increasing, identity and access management has become of prime importance. Due to the increasing security threats and data breaches, the business risks associated to web and emails are also increasing. Companies are also concerned about the data loss prevention and the log maintenance of the company's employees and data process. All these problems can be resolved easily with the deployment of the services offered by the market. This is because it targets the specific security problems of cloud computing, and reduces the complexities related to the cloud.
The report provides an in-depth analysis of the cloud security market across different industry verticals and regions. The vertical segment includes various industries such as government and public utilities, BFSI, IT and telecommunication, healthcare and life sciences, retail, manufacturing, media and entertainment, and transportation. Based on the regions the global market is segmented into five regions, namely North America (NA), Europe (EU), Middle East and Africa (MEA), Asia Pacific (APAC) and Latin America (LA). Presently, NA is the largest market for cloud based security services.
The majority of growth is anticipated in the regions of APAC and EU. In EU, regions such as Germany, Norway are expected to grow at a faster rate as compared to other countries, due to increasing deployment of cloud in both SMB's and enterprises and strict government regulations on Cloud Service Providers (CSPs).
It is predicted that the future growth of this market will be based on increasing adoption of cloud computing by the small and medium size enterprises and proliferation of mobile devices, and Security as a Service (SaaS) applications in business. The top three cloud security services that will contributeas the major market in cloud security services market are cloud IAM, email security and web security (WAF).
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