Cloud Security Market anticipated to reach an estimated US$110.514 billion by 2028

The cloud security market is projected to grow at a CAGR of 14.20% from US$43.620 billion in 2021 to US$110.514 billion in 2028.

NOIDA, UTTAR PRADESH, INDIA, July 24, 2023/EINPresswire.com/ — According to a new market report on the Cloud Security Market forecasted between 2023 and 2028, published by Knowledge Sourcing Intelligence, the cloud security market is projected to grow at a CAGR of 14.20% between 2023 and 2028 and reach US$110.514 billion by 2028.

The rapid adoption of cloud computing across diverse sectors, including government, retail, healthcare, communication and technology, and others, coupled with the escalating number of cybercrime cases, are some of the prominent drivers propelling the robust growth of the cloud security market.

Cloud security encompasses a comprehensive range of policies, technologies, applications, and controls that are deployed to safeguard the virtualized IP, data, applications, services, and underlying infrastructure in cloud computing from unauthorized access, data breaches, and other security risks.

Various product launches and technological advancements in the market are stimulating the market growth. For instance, in October 2022, Datadog, Inc., officially launched Cloud Security Management which combines CSPM, CWS, alerting, incident management, and reporting functionalities into a unified platform, empowering DevOps and Security teams to identify misconfigurations, detect threats, and secure cloud-native applications.

View sample report or see more details: https://www.knowledge-sourcing.com/report/cloud-security-market

The cloud security market based on the deployment model is categorized into three types which include private, public, and hybrid. Private cloud security solutions focus on isolated infrastructure for enhanced control and security. Public cloud security solutions focus on securing cloud services provided by third-party vendors. Hybrid cloud security solutions are designed for environments that combine both private and public clouds.

The cloud security market based on security type is segmented into five types as email and web security, cloud database security and data loss prevention, Cloud Identity and Access Management (IAM), network security, and others.

The cloud security market caters to a diverse range of end-users which includes government, leisure, retail, BFSI (Banking, Financial Services, and Insurance), communication and technology, healthcare, and others. These sectors rely on cloud security solutions to protect their sensitive data, ensure regulatory compliance, and mitigate cyber threats.

The Asia Pacific holds a substantial market share in the cloud security market. The digital landscape expansion and technological advancements have become more prevalent in Asia-Pacific owing to which the region has become a prime target for cybercriminals seeking to exploit vulnerabilities in cloud environments. This heightened threat landscape has propelled organizations in the region to prioritize robust cloud security measures to protect their sensitive data and mitigate potential risks. For instance, according to IBM’s report in 2022, the average per-record cost of a data breach in India rose by 3.3%, reaching INR 6,100, compared to 2021’s figure of INR 5,900. Also, as per the report of Microsoft Azure, the frequency of DDoS attacks targeting India experienced a significant surge, rising from merely 2 percent of all attacks in the second half of 2021 to a substantial 23 percent in the first half of 2022.

The cloud security market study includes coverage of AMAZON WEB SERVICES INC., PALO ALTO NETWORK INC., CISCO SYSTEMS INC., IBM CORPORATION, FORTINET, MICROSOFT (MICROSOFT AZURE), INTEL SECURITY GROUP, SKYHIGH SECURITY, TRUSTWAVE HOLDINGS, CA TECHNOLOGIES, TREND MICRO, and AKAMAI TECHNOLOGIES, INC. among other significant market players in the cloud security industry.

This cloud security market study segments the market as follows:

• By Development Model
o Private
o Public
o Hybrid

• By Security Type
o Email and Web Security
o Cloud Database Security and Data Loss Prevention
o Cloud IAM
o Network Security
o Others

• By End-Users
o Government
o Leisure
o Retail
o BFSI
o Communication and Technology
o Healthcare
o Others

• By Geography

o North America
• United States
• Canada
• Mexico

o South America
• Brazil
• Argentina
• Others

o Europe
• United Kingdom
• Germany
• Sweden
• Denmark
• Others

o Middle East and Africa
• UAE
• Israel
• South Africa
• Others

o Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Others

Explore More Reports:

• IoT Security Market: https://www.knowledge-sourcing.com/report/iot-security-market
• Cloud Professional Services Market: https://www.knowledge-sourcing.com/report/cloud-professional-services-market
• Global Private Cloud Automation Market: https://www.knowledge-sourcing.com/report/global-private-cloud-automation-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
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