The global cloud security market size is expected to grow from USD 40.8 billion in 2021 to USD 77.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.7% from 2021 to 2026. An increasing number of security breaches and cyberattacks and mandate to follow regulatory and data protection laws have contributed to the growth of the cloud security market ecosystem.
By service model, the SaaS segment expected to hold a larger market size in 2021
Organizations are migrating their infrastructure to cloud due to its lower hardware cost and features, such as agility, scalability, speed, and cost-efficiency. In the cloud deployment mode, a service provider hosts the entire infrastructure and its capabilities, which are provided to organizations on a need-basis and can scale up when required.
Microsoft Office 365, Salesforce.com, Cisco Webex, and Adobe Creative Cloud are some of the popular SaaS application vendors in the market. With the proliferation of cloud collaboration tools amid the pandemic, the SaaS businesses are expecting growth as they these solutions are easier- to- deploy, manage, and support virtually on the cloud.
APAC to register the highest growth rate during the forecast period
Asia Pacific (APAC) comprises of emerging economies, such as Australia, South Korea, and Japan, with developed security infrastructure. Machine Learning (ML), Internet of Things (IoT), big data analytics, and Artificial Intelligence (AI) are emerging methodologies that are being deployed in this region. APAC is home to large number of established Small and Medium-sized Enterprises (SMEs), which are growing at laudable pace to cater to their large customer base. SMEs are rapidly adopting cloud-based solutions to manage their enterprise data. Despite the growing importance of SMEs in this region, they are most affected mostly by cyber and malware attacks owing to budgetary constraints and resource shortages.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
- By Designation: C-level – 45%, D-level – 30%, and Others – 25%
- By Region: North America – 35%, Europe – 20%, APAC – 30%, RoW – 15%
Major vendors offering cloud security solutions include Amazon Web Services (US), Microsoft (US), Checkpoint (US), Google (US), Palo Alto Networks (US), McAfee (US), IBM (US), Zscaler (US), Cisco (US), Fortinet (US), Sophos (UK), Foreseeti (Sweden), Broadcom (US), Trend Micro (Japan), Tenable (US), Forcepoint (US), Netskope (US), Imperva (US), Proofpoint (US), Cloudflare (US), Aqua Security (Israel), Qualys (US), CipherCloud (US), Bitglass (US), SiteLock (US), Illumio (US), vArmour (US), Avanan (US), CloudPassage (US), and FireEye (US). The cloud security market study includes an in-depth competitive analysis of these key players, along with their profiles, recent developments, and key market strategies.
The market study covers the cloud security market size across different segments. It aims at estimating the market size and the growth potential across different segments, including application, service model, security type, organization size, vertical, and region. The study further includes an in-depth competitive analysis of the leading market players, along with their company profiles, key observations related to product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the global cloud security market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.