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The global Cloud Security market size is expected to attain a market size of $13.1billion by 2022, growing at a CAGR of 22.3% during the forecast period.
Cloud security holds a set of policies and controls that are vital for the security of applications, data, and infrastructure. Threats such as data breaches, data loss, and insecure application programming interfaces (API) are quite common in the cloud computing platform. Considering the risks associated with the cloud, the need for a secure environment for both cloud providers and customers is vital. The global cloud security market is anticipated to rapidly grow during the forecast period, largely due to organizations, globally relying on cloud & cloud based services & applications. Cloud has been commonly used for storage & backup applications by several organizations in almost all the verticals such as retail, healthcare, BFSI and IT & Telecom etc. due to its flexibility in IT infrastructure, agility, and cost-effectiveness.
Nevertheless, the cloud environment is susceptible to threats and attacks driving the demand for the cyber security. In addition, increasing adoption of BYOD in organizations has further led to the implementation of cloud security solutions to bring about a secure environment for personal devices. Based on the type, the Cloud Security market is segmented into Cloud Identity & Access Management, Data Loss Prevention, Email & Web Security, Cloud Database Security, Cloud Encryption, Network Security and Others. Based on Deployment Type, the market is segmented into Public, Private and Hybrid. Based on the Organization Size, the market is segmented into Small & Medium Sized Enterprises and Large Enterprises. The verticals covered under the report include BFSI, Government, Telecom & IT, Healthcare & Life Sciences, Media & Entertainment, Retail, Manufacturing, Transportation and Others.
Based on region, Cloud Security market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Cloud Security market in 2015. Asia-Pacific would witness promising CAGR during the forecast period (2016-2022). The report covers the analysis of key stake holders of the Cloud Security market.
Key companies profiled in the report include IBM Corporation, Check Point Software Technologies, Cisco Systems, Inc., Intel Corporation, HP Enterprise Company, FireEye, Inc. and Sophos Plc.