Cloud Security Market Size To Reach $75.26 Billion By 2030

December 2023 | Report Format: Electronic (PDF)

Cloud Security Market Growth & Trends

The global cloud security market size is projected to reach USD 75.26 billion by 2030, and is anticipated to register a CAGR of 13.1% from 2023 to 2030, according to a new study by Grand View Research Inc. Growth of the market can be attributed to the rising global interconnection of enterprises that need secure and scalable solutions. Cloud security, which deals with both localized and global cyber risks, emerges as a crucial driver, offering enterprises the ability to navigate interconnected digital ecosystems effectively. Organizations are rapidly moving operations to the cloud to improve adaptability, expansion, and cost efficiency.

As the volume of sensitive data in cloud environment grows, the need to secure these digital assets fuels demand for robust cloud security solutions. Cloud security solutions handle specific issues, protecting against cloud-native risks like configuration errors, data breaches, and unauthorized access to data. The increasing threat landscape needs specific security measures, driving the growth of the market. 

Moreover, the Secure Access Service Edge (SASE) framework blends network security operations with wide-area networking (WAN) capabilities to address enterprises' dynamic and secure access needs. Cloud security solutions adapt to SASE principles by offering secure access from any place and at any time. The cloud's convergence of networking and security reflects the changing needs of modern businesses. Cloud security solutions have broad incident response capabilities, allowing enterprises to swiftly identify, investigate, and fix threats.

Future cloud security methods will depend significantly on continuous identification, monitoring, and behavioral analytics. Cloud security systems are widely adopting real-time monitoring of user behaviors, network activity, and system interactions. Enhanced threat intelligence platforms will be vital for cloud security over the forecast period. These systems collect information from various sources, such as global threat sources and industry-specific intelligence.

The growing and dynamic nature of data protection and cybersecurity rules presents uncertainties that limit the growth of the market. With a lack of awareness about evolution of regulations and the way they operate, organizations are hesitant to invest heavily in cloud security solutions. Specific knowledge of cloud structure, identity and access management, predictive maintenance, and threat detection is crucial due to complexity of cloud environments.

The scarcity of experienced personnel capable of installing and monitoring cloud security measures hinders the effective implementation of robust security policies. Addressing the skills gap is vital for achieving the complete potential of cloud security solutions. The design of future market for cloud security will prioritize user experience and its usability. Logical interfaces, user-friendly workflows, and efficient management devices will aid in the effective implementation and administration of cloud safety procedures.

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Cloud Security Market Report Highlights

  • Based on component, the services segment is anticipated to register the fastest CAGR of 14.5% over the forecast period. The global regulatory landscape's complexity will fuel demand for regulatory compliance and governance services. Service providers are expected to supply enterprises with customized options to meet compliance needs by navigating and complying with numerous privacy and data security standards

  • Based on solution, the Cloud Infrastructure Entitlement Management (CIEM) segment is anticipated to register the fastest CAGR of 13.9% over the forecast period. This growth is attributable to the advancement of cloud ecosystem. These solutions will connect effectively with various cloud environments, enabling multi-cloud and hybrid cloud structures while offering an integrated overview of credentials and access controls

  • Based on services, the managed services segment is expected to register the fastest CAGR of 18.2% over the forecast period. A preventive approach to threat detection and response will define the future of managed services. Managed service providers will use modern technologies such as artificial intelligence (AI) and machine learning (ML) in real-time to evaluate patterns, detect abnormalities, and flag possible security incidents

  • Based on deployment, the hybrid segment is anticipated to register a significant CAGR of 13.5% over the forecast period. The focus on zero-trust security frameworks will grow in the future of hybrid cloud security. A standard perimeter-based security solution proves insufficient in a hybrid framework when data and applications are deployed across numerous sites

  • Based on enterprise size, the small & medium enterprises (SMEs) segment is expected to register the fastest CAGR of 15.5% over the forecast period. As SMEs adopt digitalization and cloud technology, the growing cloud security landscape presents difficulties and opportunities that will influence their approach to securing private information, ensuring company sustainability, and prompting the segment growth

  • Based on end-use, the healthcare segment is anticipated to register the fastest CAGR of 15.3% over the forecast period. The introduction of robust encryption techniques for data at rest and in transit, along with complex authentication processes ensures that only authorized employees have access to patient information and will be the future of cloud security in healthcare

  • The Asia-Pacific region is anticipated to register the fastest CAGR of 14.8% over the forecast period. The future of this region in the market will be defined by a deliberate alignment of cybersecurity measures with the region's technological targets

Cloud Security Market Segmentation

Grand View Research has segmented the global cloud security market based on component, deployment, enterprise size, end-use, and region:

Cloud Security Component Outlook (Revenue, USD Billion, 2018 - 2030)

  • Solution

    • Cloud Access Security Broker (CASB)

    • Cloud Detection and Response (CDR)

    • Cloud Security Posture Management (CSPM)

    • Cloud Infrastructure Entitlement Management (CIEM)

    • Cloud Workload Protection Platform (CWPP)

  • Services

    • Professional Services

    • Managed Services

Cloud Security Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

  • Private

  • Hybrid

  • Public

Cloud Security Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

  • Large Enterprises

  • Small & Medium Enterprises (SMEs)

Cloud Security End-use Outlook (Revenue, USD Billion, 2018 - 2030)

  • BFSI

  • Retail & E-commerce

  • IT & Telecom

  • Healthcare

  • Manufacturing

  • Government

  • Aerospace & Defense

  • Energy & Utilities

  • Transportation & Logistics

  • Others

Cloud Security Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa

    • UAE

    • Saudi Arabia

    • South Africa

List of Key Players in the Cloud Security Market

  • Amazon Web Services, Inc.

  • Broadcom, Inc.

  • Check Point Software Technologies Ltd.

  • Cisco Systems, Inc.

  • Extreme Networks, Inc.

  • Fortinet, Inc.

  • F5, Inc.

  • Forcepoint

  • International Business Machines Corporation

  • Imperva

  • Palo Alto Networks, Inc.

  • Proofpoint, Inc.

  • Sophos Ltd.

  • Trellix

  • Zscaler, Inc.

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