Global Cloud Security Software Market to Grow at 4.4% During 2024-2032, Propelled by Integration with Advanced Technologies

December 06, 2019 | Technology & Media

According to the latest report by IMARC Group, titled "Cloud Security Software Market Report by Type (Cloud Identity and Access Management, Data Loss Prevention, Email and Web Security, Cloud Database Security, Network Security, Cloud Encryption), Deployment (Public, Private, Hybrid), End-User (Small and Midsize Business (SMBs), Large Enterprises, Cloud Service Providers, Government Agencies, and Others/Third Party Vendors), Vertical (Healthcare, Banking, Financial Services and Insurance (BFSI), Information Technology (IT) & Telecom, Government Agencies, Retail, and Others), and Region 2024-2032," the global cloud security software market reached a value of US$ 30.8 Billion in 2023. Cloud security software is widely employed by numerous organizations for gaining multiple levels of control in a network infrastructure. Also known as cloud computing security software, it protects the cloud-based system, data and infrastructure while ensuring the security and regulatory compliance of the same. It is essential for establishing authentication rules for individual users and devices that lead to enhanced privacy, access control, backup solutions and data protection. It also protects the public and private cloud against distributed denial of service (DDoS). Apart from this, these solutions are deployed for safeguarding unstructured data formats and integrating the same with multiple processors or endpoints while eliminating the need to invest in expensive hardware.

Global Cloud Security Software Market Trends:

The market is primarily driven by the growing adoption of cloud computing solutions in numerous industries across the globe. The widespread utilization of cloud servers to store, manage and process sensitive business data in the corporate sector has made it more susceptible to unauthorized access, cyberattacks, data exposure and other threats. This has stimulated the requirement for cloud security software to secure the integrity and continuity of resources at different levels. Moreover, there has been a significant increase in the adoption of encryption and tokenization technologies, which, in turn, is contributing to the market growth. These advanced technologies assist in facilitating easy data transfer and hindering unauthorized access during security breaches. The advent of numerous security solutions that are integrated with machine learning (ML) and artificial intelligence (AI) is acting as another major growth-inducing factor. Apart from this, extensive research and development (R&D) has led to the launch of advanced variants that offer easy-to-use and affordable services to end users. For instance, Trend Micro Incorporated, a Tokyo-based cybersecurity company, has launched Worry-Free Services Advanced, cloud-based security, specially designed for small businesses, that manages the security of numerous devices from one web console while protecting the user against spear phishing and advanced targeted attacks. On account of the aforementioned factors, the market is expected to grow at a CAGR of 4.4% during 2024-2032.

Market Summary:

  • Based on the type, the market has been divided into cloud identity and access management, data loss prevention, email and web security, cloud database security, network security and cloud encryption.
  • On the basis of the deployment, the market has been segregated into public, private and hybrid.
  • Based on the end user, the market has been categorized into small and midsize businesses (SMBs), large enterprises, cloud service providers, government agencies and others/third party vendors.
  • On the basis of the vertical, the market has been segmented into healthcare, banking, financial services and insurance (BFSI), information technology (IT) and telecom, government agencies, retail, and others.
  • On the geographical front, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Broadcom, Inc., Trend Micro Incorporated, IBM Corporation, Cisco Systems, Inc., RSA Security LLC, McAfee, LLC, Microsoft Corporation, Dell Technologies, Inc., Hewlett Packard Enterprise Company, BMC Software, Inc., Bitium, CipherCloud, Inc., CloudPassage Inc., Check Point Software Technologies Ltd, Fortinet, Inc., VMware, Inc., Sophos Limited, Gemalto NV, and Imperva, Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, Deployment, End User, Vertical, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered Broadcom, Inc., Trend Micro Incorporated, IBM Corporation, Cisco Systems, Inc., RSA Security LLC, McAfee, LLC, Microsoft Corporation, Dell Technologies, Inc., Hewlett Packard Enterprise Company, BMC Software, Inc., Bitium, CipherCloud, Inc., CloudPassage Inc., Check Point Software Technologies Ltd, Fortinet, Inc., VMware, Inc., Sophos Limited, Gemalto NV, and Imperva, Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Cloud Security Software Market to Grow at 4.4% During 2024-2032, Propelled by Integration with Advanced Technologies
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