A CAGR of 18.1% is expected to be achieved between 2022 and 2029 in the global cloud security market, which was valued at USD 29.26 billion in 2021 and is expected to increase to USD 106.02 billion by 2029 from USD 33.13 billion in 2022. With higher-than-anticipated demand across all regions compared to pre-pandemic levels, the global COVID-19 pandemic has been unprecedented and stupefying. According to our analysis, the global market had increased by 11.6% in 2020 compared to 2019.
Forgerock, Oracle, and IBM all provide identity and access management solutions, and we have taken these into consideration in the study along with other cloud security options provided by market participants. Digital Guardian, Trend Micro, Trustwave, and Symantec all offer data loss prevention solutions. IBM, Micro Focus, MacAfee, and other companies offer security information and event management (SIEM) solutions. Similarly, Splunk, Rapid7, and other companies provide business continuity and disaster recovery solutions.
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Which company dominates the Global Cloud Security Market?
- Trend Micro Incorporated (Tokyo, Japan)
- Cisco Systems, Inc. (California, U.S.)
- McAfee, Inc. (California, U.S.)
- Palo Alto Networks, Inc. (California, U.S.)
- Check Point Software Technologies (Tel Aviv-Yafo, Israel)
- Microsoft Corporation (Washington, U.S.)
- IBM Corporation (New York, U.S.)
- Splunk Inc. (California, U.S.)
- Alphabet Inc. (California, U.S.)
- Amazon.com (Washington, U.S.)
What are the factors driving the growth of the Cloud Security Market?
The growing adoption of cloud computing is one of the main factors boosting market growth. Cyber security solutions are made possible by sophisticated mathematical forecast models that can monitor enormous amounts of structured and unstructured data. Utilizing cloud computing, you can carry out this data monitoring in a secure and reliable environment.
The adoption of cloud computing in cyber security solutions is a priority for major players like Cisco Systems, IBM Corporation, and others. These cloud computing services are built on "analytics-as-a-service" (AaaS) offerings, assisting end users to quickly track and control ambiguous threats. The demand for massive storage applications to store and secure data using sophisticated security models is also a factor in the growth of the market.
What are the geographical insights of the Cloud Security Market?
Market share is expected to be dominated by North America. Government agencies and private players in the United States, Canada, and other nations are increasing their investment in security solutions by launching various initiatives and incorporating research and development into the current solution offerings. For instance, MIT Researchers in the U.S. launched a new data privacy-focused initiative in April 2021 to address AI-driven analytics and shifting attitudes toward personal data. It entails cooperation across five separate technical domains, including data privacy, data portability, database systems, AI and machine learning, human-computer interaction, and new information architectures.
Attacks on virtual private networks (VPN) and remote access have significantly increased since the COVID-19 outbreak. The US Department of Homeland Security (DHS) Cybersecurity and the Infrastructure Security Agency (CISA) both reported that phishing and ransomware attacks have significantly increased. As a result, the adoption of network security services is anticipated to increase soon throughout the United States.
Read More On The Cloud Security Market Report At:
https://www.fortunebusinessinsights.com/cloud-security-market-102427
An overview of the report
- The report comprehensively analyzes recent and anticipated market trends to help investors find investment opportunities.
- Market predictions through 2030, starting from estimated market values
- Market trends that are significant across industries, regions, and countries
- Market strategies and significant developments observed
- Market dynamics like drivers, obstacles, opportunities, and other trends require
- comprehensive company profiles of significant players, both established and emerging
- Emerging economies are anticipated to grow through 2030.
Analysts have segmented the "Cloud Security Market" into application, type, and regional segments to aid market participants in better understanding the market. Each element clearly demonstrates the variables that are most likely to have an impact on it and the variables that are anticipated to have a limit. The reader can access specific market updates thanks to the segmented explanation. The market research report on Cloud Security Market Trends also discusses evolving environmental concerns, shifting political environments, and various government approaches to regulatory reforms.
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