The Europe Cloud Data Security Market would witness market growth of 14.3% CAGR during the forecast period (2022-2028).
Cloud data security can be used to bolster identity and access management (IAM). Identity and access management (IAM) assists organizations in streamlining and automating identity and access management operations and enabling finer-grained access controls and privileges. IT personnel no longer need to manually apply access controls, monitor and change rights, or de-provision accounts with an IAM solution.
Organizations can also enable single sign-on (SSO) to verify the user's identity and grant access to numerous websites and applications with a single set of credentials. The rule of thumb for IAM controls is to adhere to the concept of least privilege, which entails granting required users access to only the data and cloud resources required to complete their tasks.
It can also enable workload protection in the cloud. As cloud workloads dramatically increase the attack surface. Protecting workloads involves transparency and detection of each workload and container event, in addition to securing the complete cloud-native stack, spanning all workloads, containers, Kubernetes, and server-less apps, on any cloud. This allows enterprises to create, run, and secure cloud applications from development to production.
The German e-commerce sector is among the largest in Europe. The number of consumers engaging in e-commerce, internet penetration, and annual expenditures is all above the European average. In 2021, overall sales reached USD 127.5 billion, representing a 24 percent increase from 2020. The internet population in Germany is projected to expand from 62.4 million in 2020 to 68.4 million in 2025. Due to strong COVID lockdown efforts throughout 2020 and 2021, many German consumers have grown their online purchases and purchased commodities such as groceries and hygiene products for the first time online. Home delivery, 24/7 availability, and convenience are essential reasons customers shop online. The high penetration of online shopping is expected to surge the utilization of the cloud data security system in the retail and e-commerce industry, which is expected to boost market growth in Europe.
The Germany market dominated the Europe Cloud Data Security Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $684.8 million by 2028. The UK market is anticipated to grow at a CAGR of 13.4% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 15.2% during (2022 - 2028).
Based on Offering, the market is segmented into Solution and Services. Based on Offering Type, the market is segmented into Co-Managed and Fully Managed. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Government & Defense, Manufacturing, Healthcare & Lifesciences, Retail & eCommerce and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Cloud Data Security Market will Hit $10.5 Billion by 2028, at a CAGR of 15.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc. (Amazon.com, Inc.), Google LLC (Alphabet, Inc.), Cisco Systems, Inc., McAfee Corp., Microsoft Corporation, Palo Alto Networks, Inc., Zscaler, Inc., Fortinet, Inc., Check Point Software Technologies Ltd., and IBM Corporation.
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