The Global Cloud Data Security Market size was estimated at USD 4,375.65 million in 2022 and expected to reach USD 5,046.95 million in 2023, projecting growth at a CAGR of 15.74% to reach USD 14,096.66 million by 2030.
The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make better decisions. In this report, the years 2018 to 2021 are considered as historical years, 2022 as the base year, 2023 as the estimated year, and years from 2024 to 2030 are considered as the forecast period.
The Cumulative Impact of COVID-19:
The pandemic immensely impacted businesses worldwide, including those that rely heavily on cloud data. With more people working remotely, the chances of potential points of entry for malicious threats looking to exploit vulnerable systems have increased. Additionally, remote work increases the risk of human error due to disrupted internet connections and other technical difficulties. By implementing robust authentication protocols and access control measures, vendors must ensure that cloud data security platforms are highly integrated.
The Cumulative Impact of the Russia-Ukraine Conflict:
As tensions between Russia and Ukraine continued, the threat posed by cyberattacks from either countries or their allies is also rising. Cybercriminals are becoming increasingly advanced in their tactics, reinforcing vendors to remain vigilant in protecting their cloud data from malicious threats having political motivations for targeting specific organizations or industries. Market players should be aware that hackers can use compromised accounts to launch attacks against other countries or organizations and use them to gain access to sensitive information stored in the cloud.
The Cumulative Impact of High Inflation:
High inflation rates can significantly impact businesses operating in certain countries or regions. The high inflation rates increased costs associated with storing and protecting large amounts of sensitive data in the cloud and decreased profits due to decreased consumer spending power. Vendors must consider ways to reduce cloud storage costs while maintaining tight security protocols to protect against breaches or unauthorized access.
The market dynamics represent the ever-shifting landscape of the Global Cloud Data Security Market by providing actionable insights into supply and demand levels. Taking such factors into account helps inform strategies, investments, and future developments to capitalize on opportunities or avoid potential pitfalls related to political, geographical, technical, social, and economic conditions. Such market observations also highlight consumer behaviors while influencing both manufacturing costs as well as consumer purchasing decisions.
- Rising Adoption of Next-Generation Data Storage by Large, Small, and Medium Size Enterprises to Secure Data
- Increasing Number of Cyber Attacks Coupled with Need for Efficient Data Security
- Accelerating Use of Cloud Data Security Platforms Across Retail Industry
- Lack of Awareness in Developing Economies and Among Small Enterprises
- Integration of Advanced Technologies in Cloud Data Security Systems
- Growing Use of Online Payments Systems, and Social Media Platforms
- Concerns Associated with Cyber Attack and Data Breaches
Market Segmentation & Coverage:
This research report categorizes the Global Cloud Data Security Market in order to forecast the revenues and analyze the trends in each of the following sub-markets:
- Based on Offering, the market is studied across Services and Solutions.
- Based on Element, the market is studied across Cloud Security Posture Management, Cloud Workload Protection, Data Loss Prevention Tools, Encryption Technology, and Identity And Access Management.
- Based on Enterprise-Size, the market is studied across Large Enterprise and Small & Medium Enterprise.
- Based on End-User, the market is studied across Banking, Financial Services & Insurance, Healthcare & Life Science, Information Technology, Legal & Education, Manufacturing, Retail & eCommerce, and Telecommunications & Networking.
- Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.
Company Usability Profiles:
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Cloud Data Security Market, including Accenture PLC, Amazon.Com, Inc., AMD Telecom SA, AT&T, Inc., Atos SE, Barracuda Networks, Inc., Broadcom Inc., Capgemini SE, Check Point Software Technologies Ltd., Cisco Systems Inc., Comarch SA, Dell Technologies, Inc., Fortinet, Inc., Fujitsu Limited, Google LLC by Alphabet Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Infobip Ltd., Infosys Limited, International Business Machines Corporation, Juniper Networks, Inc., Microsoft Corporation, NTT Ltd., Oracle Corporation, Orange S.A., Palo Alto Networks, Inc., Salesforce, Inc., SAP SE, SAS Institute Inc., Sisense Inc., Tata Communications Limited, Trend Micro Incorporated, Twilio Inc., Wipro Limited, and Zoho Corporation Pvt. Ltd..
The report provides insights on the following pointers:
- Market Penetration: Provides comprehensive information on the market offered by the key players
- Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
- Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
- Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
- Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
- What is the market size and forecast of the Global Cloud Data Security Market?
- What are the inhibiting factors and impact of COVID-19 shaping the Global Cloud Data Security Market during the forecast period?
- Which are the products/segments/applications/areas to invest in over the forecast period in the Global Cloud Data Security Market?
- What is the competitive strategic window for opportunities in the Global Cloud Data Security Market?
- What are the technology trends and regulatory frameworks in the Global Cloud Data Security Market?
- What is the market share of the leading vendors in the Global Cloud Data Security Market?
- What modes and strategic moves are considered suitable for entering the Global Cloud Data Security Market?