The global cloud security market size was valued at USD 4.47 billion in 2015. Cloud computing security or popularly known as cloud security encompasses all the policies, plans and their implementation controls necessary to protect and safeguard infrastructure, application, data as well as the compliance adherence associated with the cloud. Cloud being an internet based and shared resource, identity management, access control, data protection and privacy all fall under the purview of cloud security. It addresses the security controls of the environment to ensure integrity and continuity at various levels including the infrastructure, platform, software and application level.
The industry is anticipated to grow in coming years due to a variety of factors such as the growing adoption of cloud computing by small and medium enterprises, increasing numbers of smartphones and internet users, and the growing concern over the safety of information and data over the cloud. Emerging trends and technologies such as Internet of Things (IoT), Bring-Your-Own-Application (BYOA) and Bring-Your-Own Devices (BYOD) are also posing as challenges to cloud security.
Global cloud security market, by application, 2014- 2024 (USD Million)
The industry, being in its nascent stage is dynamic in nature and is expected to evolve rapidly in coming years. The speed at which various industries are adopting cloud infrastructure and the changing threat vectors targeting the framework may drastically increase the security demand across different verticals.
The security measures encapsulate four basic categories of software including intrusion detection/prevention systems (IDS/IPS), data loss prevention (DLP), identity/access management (IAM) and email safety. The market though not standardized yet, does fall under the purview of many international and country-specific data protection laws.
The financial services and the IT and Telecom are the two largest application segments. The complexity and vitality of the data stored on the systems in the financial services industry is the main driver for the increased market demand. As many banking and financial operations continue to move to web based applications, the demand is estimated to keep growing in coming years.
The increasing requirements of data repositories and the criticality of information stored is driving the demand for security in both the segments. As many governments across the world move their services and operations towards cloud infrastructure, a larger demand for cloud security is anticipated.
Company Size Insights
An increasing adoption of cloud platforms due to cost and management benefits by the small and medium enterprises is expected to fuel the growth of the SMEs segment. The demand is also fueled by the scalability and risk mitigation abilities that the cloud security offers at a reasonable investment. The large enterprises segment though trailing, are predicted to adopt safety measures at a growing rate over the forecast period.
Cloud services being a shared resource by nature, organizations struggle with the identity management and tracking the most. This has resulted into a growing demand for the identity/access management solutions making it the largest segment and is followed by email security segment.
The intrusion detection/prevention segment is expected to gain traction in the years to come as the web based applications and software as a service gains ground in industrial applications.
The widespread use of public cloud services makes the public segment the largest followed by the private segment. As the increasing number of companies are adopting hybrid infrastructure for their deployments, the demand for security solutions in this segment is expected to increase over the forecast period.
U.S. Cloud Security Market, by solution, 2015 (USD Million)
The North American region dominates the market in terms of revenue share and is expected to maintain its position in years to come followed by Europe. The increasing adoption of cloud in emerging countries in Asia Pacific region is expected to result in witnessing the substantial industry growth.
The changing dynamics of the regional populace, increasing buying power and the rapidly developing infrastructure are some of the driving points that are helping the industry growth.
Some of the major industry players in this domain include CA Technologies Inc., Cisco Systems, Fortinet Inc., IBM Corp., Intel Corp., TrendMicro, VMware and Symantec Corp. Other key vendors include BMC Software, Bitium Inc., CloudPassage, Netskope, SkyHigh Networks Inc., Snoopwall Inc., Sophos, and Whitehat Virtual Technologies.
Key industry players such as CA Technologies, TrendMicro, Symantec Corp., Intel Corp. and IBM Corp. use technological alliances, partnerships and collaborations with other industry players to maintain market competencies. New product developments and up-gradation of existing products to meet industry demands is also a key trend in the industry. Partnerships and strategic mergers and acquisitions is anticipated to be the most effective way for industry players to gain quick access to emerging economies and enhance technological capability.
Base year for estimation
Actual estimates/Historical data
2014 - 2015
2016 - 2024
Revenue in USD Million & CAGR from 2016 to 2024
North America, Europe, Asia Pacific, Latin America, and MEA
U.S., Canada, UK, Germany, India, Japan, China, Brazil, and Mexico
Revenue forecast, company ranking, competitive landscape, growth factors and trends
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Segments Covered in the Report
Grand View Research has segmented the global cloud security market on the basis of application, company size, solution, deployment, and region:
Application Outlook (Revenue, USD Million; 2014 - 2024)
IT and telecom
Media and entertainment
Company Size Outlook (Revenue, USD Million; 2015 - 2024)
Small and Medium Enterprises
Solution Outlook (Revenue, USD Million; 2015 - 2024)
Regional Outlook (Revenue, USD Million; 2014 - 2024)
Middle East & Africa (MEA)
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