Thursday 23 April 2015, Amsterdam
The report recognizes the following companies as the key players in the Global Cloud Security Software Market: CA Technologies Inc., McAfee Inc., Symantec Corp. and Trend Micro Inc.
Other Prominent Vendors in the market are: CipherCloud, CloudLock, CloudPassage, Commtouch Software, CREDANT Technologies, CYREN, HyTrust, IBM, Okta, Panda Security, SafeNet, Skyhigh Networks, ThreatMetrix and Zscaler.
The report said: “Partnership between cloud service providers and security solution providers is one key trend upcoming in the market. As the market matures, cloud security is expected to become an integral part of cloud services, which will encourage CSPs to partner with security solution providers to provide security software and maintain their competitiveness.”
According to the report, one of the major drivers of this market is the reduced ownership cost. Cloud security software reduces the operational costs of an organization. Currently, organizations are concentrating on cost-effective solutions for deployment of security solutions. In the cloud security software model, the associated risks, maintenance and operation costs, infrastructure costs, and updates are handled by a third party or service provider.
Further, the report states that the presence of many open-source security software providers is one of the major challenges in the market. As a result of advances in technology, several open-source software solution providers have been able to enter the market, which has intensified the competition for traditional and cloud software solutions. Open-source software can be downloaded and run on all platforms. The presence of open-source security software vendors is reducing the market share of cloud security software vendors.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.