Cloud Security Market Size, Share, & Trends Analysis Report By Component (Solution, Services), By Deployment (Private, Public), By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the cloud security market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for cloud security market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of cloud security market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Cloud Security Market Categorization:

The cloud security market was categorized into five segments, namely component (Solution, Services), deployment (Private, Hybrid, Public), enterprise size (Large Enterprises, Small & Medium Enterprises), end-use (BFSI, Retail & E-commerce, IT & Telecom, Healthcare, Manufacturing, Government, Aerospace & Defense, Energy & Utilities, Transportation & Logistics), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)

Segment Market Methodology:

The cloud security market was segmented into component, deployment, enterprise size, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The cloud security market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain;, China; India; Japan; Australia; South Korea; Brazil; Mexico; Argentina; UAE; Saudi Arabia; South Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Cloud security market companies & financials:

The cloud security market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• BMC Software, Inc. - BMC software is based in Texas, U.S., and was established in 1980. The company specializes in the development of Business Service Management(BSM) software. It develops, promotes, and sells software used in various applications in industries such as cloud computing management, data center automation, virtualization life cycle management, performance management, and IT service management. BMC has its presence in varied software platforms ranging from THE mainframe software to mobile and cloud, providing enhanced productivity, cost, and compliance as well as optimized performance to the customers. The company specializes in data center automation, IT service management, cloud computing, BSM, and SaaS, among others. The other specializations include asset, workflow, virtualization, discovery, job scheduling, server provisioning, patch, vendor relationship, security, compliance, analytics, and mobility.

• Bitium, Inc. - Established in 2012, Bitium, Inc. is a privately held company based in California, U.S.Bitium offers cloud computing services and solutions and simplified identity access management for the cloud-forward companies. Bitium technology provides flexibility, ease of use, and security for small, medium, and large businesses. The company aims to provide the ability to manage access to all the web-based applications, such as Office 365, Google Apps, as well as collaboration and marketing tools, social networking capabilities, and Customer Relation Management (CRM) to the upcoming market players in one place. Key customers, such as Demand Media, Movember, GroupM, and Fullscreen, use Bitium for an easy-to-use solution that delivers increased flexibility and security.The company offers numerous cloud security solutions such as single sign-on, password management, directory integration, reporting and compliance, and application and user security.

• CA Technologies, Inc. - CA Technologies is a publicly held corporation founded in 1976 and is headquartered in New York, U.S. It is a global software company that creates system software useful in a virtual machine, distributed computing, mainframe, and cloud computing environment.The product offerings of CA Technologies are Agile Management, API Management, DevOps, Mainframe, and Security.The company has three major operating segments: mainframe solutions, enterprise solutions, and services. The enterprise solutions include DevOps, management cloud, and security solutions. The security solutions offer smart authentication and deliver identity-centric security solutions. CA provides a broad suite of identity and access management and data protection solutions for application and data management for the on-premise and cloud deployments across the web, mobile, and API channels. The company provides business management solutions and software, which help customers to thrive in the new application economy. From planning to development, to management and security, CA helps numerous organizations globally to change the way people live, transact, and communicate across mobile, private, and public cloud and in distributed and mainframe environments.

• Cisco Systems, Inc. - Cisco System, Inc. is a multinational company founded in 1984 and is headquartered in San Jose, California. It is a networking company involved in designing, manufacturing, and selling networking equipment and other products related to information technology and communication industry. As of July 2015, Cisco had an employee base of 71,833. The company has its presence in America, Europe, Middle East & Africa, and Asia Pacific. Its product portfolio consists of next-generation network routing, switching, collaboration, data center, service provider video, security, wireless, and other products.Cisco also provides a varied range of services, such as technical support services and network-based solutions to communications service providers, governments, public institutions, and enterprises of all sizes.

• CloudPassage, Inc. - CloudPassage is a security company headquartered in the U.S. and was founded in 2010. The company provides a platform that creates scalable cloud infrastructure security for the public, private, and hybrid cloud environments. The company operates as a server security products provider for hybrid and public cloud hosting environments. The products offered include Software-as-Service security center, CloudPassage Halo, and server security platform for handling the cloud security issues. The flagship product offered by the company is Halo, a comprehensive security platform for data center and cloud infrastructure. CloudPassage Halo is the major infrastructure platform that enables the move to agile IT and also provides security applications such as log-based IDS, multifactor authentication, privileged access management, and software vulnerability scanning.

• Fortinet, Inc. - Fortinet, Inc. is a multinational corporation incorporated in Delaware in 2000 and is headquartered in California, U.S. As of December 2015, Fortinet, Inc. held an employee base of 4,018 worldwide. Fortinet, Inc. is a network and content security provider combining operating system, platform, and comprehensive network security appliances under FortiGate, its flagship network security solution. It is a physical virtual machine and cloud platform that is deployed across large and medium enterprises, service providers, and other government organizations. The company provides end-to-end services and solutions, including network security, data center security (physical and virtual), cloud security, secure (wired and wireless) access, and infrastructure (switching and routing) security, among others.

• IBM Corp. - International Business Machines Corporation (IBM) is a multinational technology company founded in 1911 and is headquartered at New York, U.S. As on December 31st, 2015, IBM had an employee base of 377,757. The company manufactures and sells hardware, middleware, and software and provides infrastructure hosting and consulting services. The company operates in five business segments: global business services, global technology services, global financing, system hardware, and software.

• Intel Corp. - Intel Corporation, founded in 1968 and headquartered at California, U.S., is an American multinational company engaged in the advanced integrated digital technology platforms. The company sells these platforms to original design manufacturers, original equipment manufacturers, as well as industrial and communication manufacturers. Intelhasexpertise in semiconductor chips’ designing and manufacturing. It has moved from a company that primarily developed and sold PCs to the one powering majority of the data centers, connecting hundreds of millions of IoT devices and sensors and mobile devices, helping to protect and secure government and enterprise IT systems.

• Netskope, Inc. - Netskope is a software company founded in 2012 and is headquartered at California, U.S. The company helps companies in finding, understanding, and securing a large number of SaaS and cloud apps. Netskope cloud inspects the SaaS networks, cloud traffic for threats, malware, and suspicious applications and is a leading Cloud Access Security Broker (CASB). The company aids in protecting sensitive data, ensuring compliance, and a hassle -free real-time protection on any device and application. It offers a wide range of products including Netskope for Office 365, Netskope for Google Apps, Netskope for Salesforce, Netskope for ServiceNow, Netskope for Box, Netskope for Dropbox, and Netskope for Egnyte. The company provides various deployment options that allow its traffic to be directed to the cloud for policy control and analysis.

• Skyhigh Networks, Inc. - Founded in 2011, Skyhigh Networks, Inc.is a cloud security company headquartered in California, U.S. It is the leading CASB to offer solutions addressing compliance, security, and governance challenges faced by the organizations adopting the cloud. The company delivers enterprise-proven, most advanced CASB solutions. A number of enterprises, such as Western Union, General Mills, DIRECTV, HP, and Aetna, trust CASB with the secure enabling of the cloud services, including sanctioned IT and shadow IT. Skyhigh helps the enterprises to pull a single cross-cloud platform to meet compliance requirements as well as detect and respond to potential threats. It also allows gaining visibility into cloud usage and risks and enforces security policies.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Cloud Security Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Cloud Security Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.