The resourceful and shared nature of cloud computing creates major issues like access control, privacy policy and identity management. As a result, cloud computing security becomes a vital source for all the users of this technology. These security tools are a set of control-based technologies that protect the all the information, infrastructure and applications associated with cloud-based services. The rising adoption of cloud technologies and their industrial applications are driving the demand in the global cloud security market. As a result, the industry players are expecting large investment opportunities across different parts of the world. Growth in demand from the emerging nations is also a strong driving factor for the global industry.
Segments in Cloud Security Services Market
The global market is categorized on the basis of the types of services, deployment and applications across different industrial verticals. Demand for these technologies across different geographic regions, which is a crucial element as far as the global industry is concerned. The types of services available in the industry include data loss prevention, BCDR, cloud IAMS/IDaaS, network, cloud database and virtualization security, cloud IPS/IDS, email and web security, encryption, and such other services.
The modes of deployment include hybrid/community, private cloud and public cloud services. Major industrial verticals with maximum applications of cloud security market solutions include BFSI, government, public utilities, retail, transportation, life sciences, healthcare, telecom and IT, manufacturing and various other business verticals. On the basis of the geographic regions, the global market is divided into Latin America, North America, Asia Pacific, Europe and Middle East and Africa.
Trends, Drivers & Forecasting Reports
The global cloud security market is strongly driven by the growth of the cloud computing market. Rapid rise in the adoption and advancements in cloud computing is creating compliance and security concerns which is driving the rate of adoption in this industry. Growing requirement for access management and identity management especially by the enterprises is also a strong driving factor for this industry. Rising drive for MSS or managed security services are also contributing the rising adoption of cloud security services.
Proliferation of mobile devices, SaaS applications and rising adoption of cloud services by small and medium businesses are also expected to play pivotal role in this rising demand. According to the researchers skepticism amongst the organizations is a major restraint for both these industries. However, strong marketing strategies and demand for cloud services are expected to drive the industry at healthy growth rate.
From 2014 to 2019, the global cloud security market is expected to grow at a CAGR of over 15%, to reach past $8.71 billion by the end of the year 2019. As of in 2014, the market is poised at $4.2 billion.
