Global Cloud Security Market Size is Expected to Reach 8.9 Billion US$ with a CAGR of 23.5% During the Forecast Period 2015-2020 - Valuates Reports™
BANGALORE, India, Nov. 19, 2019 /PRNewswire/ -- Data protection requires a set of policies and controls that tackle the cloud's security aspects by protecting software, information, and infrastructure.
Due to its ability to configure the set of services as necessary, the cloud-based security services are expected to see increased market acceptance. The definition of managed security service protects against intruders & cyber attacks and includes firewall of the next generation, content filtering, managed two-factor authentication and even security consultancy. This is expected to offer industry players ample opportunities.
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Growing adoption of cloud services by large and medium-sized companies and increased demand for managed security services generate ample opportunities for cloud security market players.
Trends Influencing The Cloud Security Market Share:
Region Wise Cloud Security Market Analysis:
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Growing Reliance On Cloud-based Services
Increasing adoption of cloud services across diverse verticals has resulted in increased dependence on cloud for storage and other applications. Increasing number of internet users and growing adoption of clou services are the key impacting factors for adoption of cloud security solutions. Over the period, the growth of online business would highlight the significance of this factor.
Increasing Number Of Cyber-attacks
An increasing number of cyber-attacks due to an upsurge in digitalization is one of the driving factors of the cloud security market. Cyber-attacks have increased rapidly, thereby, resulting in a strong need for cloud security services.
The number of data theft cases have exponentially increased in the last five years, owing to increased generation of digital content and lack of security to protect financial and corporate data. BFSI, followed by IT & telecom and retail, are the most targeted industries.Therefore, burgeoning number of cyber-attacks and data breach cases would boost the growth of the market in the future.
Growing Market For Managed Security Services
The concept of managed security service offers protection against intruders & cyber-attacks and includes next-generation firewall, content filtering, managed two-factor authentication and even security consultancy. This is expected to provide ample opportunities for market players.
Cloud Security Key Segments
The market segmentation is illustrated below:
Cloud Security Market by Type
Cloud Security Market by End User
Cloud Security Market by Vertical
Cloud Security Market by Deployment
Cloud Security Market by Geography
Key Benefits of Market Study:
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