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Cloud Security Market Revenue, Industry Trends, Demand and Growth Opportunities by 2024

Blue Cloud security (done in 3d)

The protection of online data store against theft, deletion and leakage is called cloud security. Methods of providing cloud security include penetration testing, obfuscation, tokenization, firewalls, avoiding public internet connections and virtual private networks (VPN). Major threats to cloud security include data loss, account hijacking, data breaches, service traffic hijacking, poor choice of cloud storage providers, insecure application program interfaces (APIs) and shared technology that can compromise cloud security.

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Increasing trend of VPN technology, cloud computing and increasing number of cases of cyber threats, increasing acceptance of BYOD devices and increasing utilization of blockchain by various business organizations across the globe are the key trends observed in the cloud security market. BYOD stands for bring your own devices which is a policy used by many corporations. This allows the employees to bring their own device and use it to access the classified data of the organization. This policy can be used to manipulate, leak and delete the data. Moreover, cloud security is used for the corporate employees for remote access of data securely.

Increase in cyber-attacks, increase in the acceptance of BYOD, Internet of things, increasing demand of cloud services and government initiatives are the growth drivers of global cloud security market. Internet of things is the connectivity of physical devices like vehicles, home appliances, smart phones and tablets with each other through a network to exchange data within them. Furthermore, this can contain personal information, so with more and more adoption of IoT, the acceptance of cloud security system is increasing.

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Geographically, North America is the largest cloud security market, globally due to the development of various smart city projects in the region and increasing utilization of hybrid cloud that helps in enhancing scalability for business enterprises. Moreover, Asia-Pacific is anticipated to witness fastest growth during the forecast period for cloud security market since the region offers potential growth to the IT sector in this region. There are also several initiatives undertaken by the government for use of cloud technology and development of smart city projects in this region.

Key players in the cloud security industry are investing towards improving the quality of access control and developing latest technologies that is furthermore strengthening their position in the market. However, it has been observed that local players are depending upon new technology to develop cost efficiencies, thus increasing the rivalry in the market to some extent. The prominent players in the global cloud security market include Cisco systems, CA Technologies, Inc., CSC, Trend Micro, Inc., Intel Security, Symantec Corporation, IBM Corporation and Fortinet, Inc. 

Geographical Segmentation


Cloud Security Market by Region
North America

  • U.S.
  • Canada

Europe

  • Germany
  • Russia
  • France
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Rest of Latin America

Middle East & Africa (MEA)

  • Egypt
  • Saudi Arabia
  • Rest of MEA

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