Published Date: 31-Mar-2022
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According to a new report, published by KBV research, The Global Cloud Security Market size is expected to reach $86 billion by 2027, rising at a market growth of 13.6% CAGR during the forecast period.
The Small & Medium Enterprises (SMEs) segment is showcasing a CAGR of 15.4% during (2021 - 2027). Cloud Security helps organizations, from various malicious assaults, sophisticated cyber criminals, ransom wars and Advanced Persistent Threats (APTs), protect networks, endpoints and applications. Small and medium - sized businesses are small but cater to a large number of clients worldwide. Due to financial constraints in these organizations, robust and comprehensive safety solutions are not implemented in SMEs.
The BFSI market has high growth rate of 12.4% during (2021 - 2027). BFSI industry focus on a customer-centered business strategy and commercial and wealth digitization has been facilitated by factors like as interoperability and safe storage, among others In addition, services in the BFSI business like payment gateways, electronic fund transfers, digital wallets, and a consistent customer experience may all play a role in making it simpler to implement an improvement in cloud security solution implementations. Market service providers are introducing effective solutions to assist firms in storing and protecting their data. InteliSecure, a prominent security solution provider, announced the introduction of a managed data protection service in August 2020 for a variety of sectors, including insurance, banking, media and entertainment, and others, to effectively safeguard their important data from assaults.
The Data Encryption & Prevention segment is estimated to grow at CAGR of 13.9% during (2021 - 2027). Increasing cloud usage and increased concerns about security measures are likely to drive usage of cloud IAM in Asia Pacific over the forecast period. As the frequency of hosting service-specific assaults grows, as does the use of cloud-based email services, as well as users' willingness to share personal information, hosted security solutions are becoming more important.
The Software-as-a-Service (SaaS) segment acquired maximum revenue share in the Global Cloud Security Market by Service Model in 2020, thereby, achieving a market value of $35.0 billion by 2027. Clients can use SaaS cloud services to access applications that are solely hosted and operate on the provider's servers. Applications, runtime, data, middleware, and the operating system are all managed by providers. Clients are entirely responsible for obtaining their applications. Google Drive, Salesforce, Slack, Microsoft 365, Evernote, and Cisco WebEx are all SaaS examples.
The Endpoint Security market is growing at a CAGR of 14.2% during (2021 - 2027). Endpoint Security (or) Endpoint Protection refers to a business network protection approach in which remote devices such as smart phones, laptops, tablets and other wireless devices have access. It comprises of monitoring status, software, and activities. Endpoint protection software is installed on every network servers and endpoint devices. There has been a sharp increase in the number of devices that have also been lost or stolen due to the multiplication of mobile devices like laptops, smartphones, tablets, notebooks, etc.
North America is the fastest growing region in the Global Cloud Security Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $31.6 billion by 2027. The Europe market is anticipated to grow at a CAGR of 12.8% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 15.5% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/cloud-security-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of McAfee Corp., IBM Corporation, Microsoft Corporation, Google LLC, Amazon Web Services, Inc., Cisco Systems, Inc., Palo Alto Networks, Inc., Check Point Software Technologies Ltd., Sophos Group PLC (Thoma Bravo), and Trend Micro, Inc.
By Organization Size
By Service Model
By Security Type
Unique Offerings from KBV Research
North America Cloud Security Market, Future Scope & Opportunities 2021-2027
Europe Cloud Security Market, Size & Growth Forecast 2021-2027
Asia Pacific Cloud Security Market, Size, Share & Industry Outlook to 2027
LAMEA Cloud Security Market, Growth, Trends and Forecasts 2021-2027