Published Date: 28-Feb-2023
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According to a new report, published by KBV research, The Global Multi-cloud Security Market size is expected to reach $12.6 billion by 2028, rising at a market growth of 17.4% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 19.4% during (2022 - 2028). Managed and professional services are included in multi-cloud security offerings. By lowering vulnerabilities, errors, and expenses, the expert services enable designing the security design, building a strong security platform, and optimizing the security performance. The installation of multi-cloud security mechanisms is made possible by multi-cloud security services.
The Network Security segment acquired maximum revenue share in the Global Multi-cloud Security Market by Application in 2021 thereby, achieving a market value of $5,299 million by 2028. The maintenance of traditional network security policies within the data center has always been difficult enough. Numerous firewalls from several suppliers, thousands of rules, and hundreds of modifications each week or month necessitate careful automation and management. Nowadays, a medium-sized or large-sized business controls a flexible heterogeneous network that usually consists of data centers, public clouds, and private clouds.
The Platform as a Service segment has shown the growth rate of 17.6% during (2022 - 2028). Platform-as-a-Service (PaaS) is a full-featured cloud deployment and development environment with the tools businesses need to produce everything from basic cloud-based apps to complex corporate applications. Users pay for the resources they require on a pay-as-you-go premise from a recognized cloud service provider and access them directly over an internet connection. Along with infrastructure (servers, storage, and networking), PaaS also comprises middleware, business intelligence (BI) services, development tools, database management systems, as well as other things.
The Large Enterprises segment is generating highest revenue share in the Global Multi-cloud Security Market by Organization Size in 2021 thereby, achieving a market value of $8.8 billion by 2028. Large businesses have quickly begun switching from conventional on-premises ways to multi-cloud solutions. It is challenging for these huge businesses to manage the security infrastructure of the entire organization because different department verticals inside them undertake varied functions. With benefits including limiting vendor lock-in, utilizing the finest alternatives as per needs, and meeting regulatory requirements, organizations are using multi-cloud deployments more frequently.
The IT & ITeS segment is poised to grow at a CAGR of 16.9% during (2022 - 2028). With a boom in the acceptance of BYOD and work-from-home trends, IT firms are quickly prioritizing cloud security solutions and services. Data breaches linked to cloud misconfigurations are becoming more frequent. These breaches include object storage, unauthorized access to a virtual server, and access to database servers, user logins, IAM permissions, and API calls. Due to an increase in cloud-native risks and cloud-based cyberattacks, businesses in the IT and ITeS sector are embracing multi-cloud security solutions.
The North America market dominated the Global Multi-cloud Security Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.4 million by 2028. The Europe market is exhibiting a CAGR of 17.1% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 17.9% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/multi-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 Microsoft Corporation, VMware, Inc., Rackspace Technology, Inc., Check Point Software Technologies Ltd., Amazon Web Services, Inc. (Amazon.com, Inc.), IBM Corporation, BMC Software, Inc. (KKR & Co., Inc.), Proofpoint, Inc., Aqua Security Software Ltd., and Imperva, Inc.
By Cloud Model
By Organization Size
Unique Offerings from KBV Research
North America Multi-cloud Security Market size & Opportunities 2022-2028
Europe Multi-cloud Security Market & Growth Forecast 2022-2028
Asia Pacific Multi-cloud Security Market Share & Industry Outlook to 2028
LAMEA Multi-cloud Security Market Growth, Trends & Forecasts 2022-2028