Cloud Security Solutions Market size to grow by USD 8.63 billion from 2021 to 2026 | Increase in data theft globally is one of the key drivers – Technavio

NEW YORK, July 5, 2023 /PRNewswire/ — The cloud security solutions market size is forecast to increase by USD 8.63 billion from 2021 to 2026, at a CAGR of 15.16%, according to a recent market study by Technavio. The growth of the market will be driven by the increase in data thefts globally, regulatory requirements encouraging the use of security solutions, and low cost of ownership. Charts & data tables about market and segment sizes have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including Akamai Technologies Inc., Broadcom Inc., Cisco Systems Inc., CrowdStrike Holdings Inc., Dell Inc., Fortinet Inc., HelpSystems LLC, Intel Corp., International Business Machines Corp., Lookout Inc., Microsoft Corp., Musarubra US LLC, NTT DATA Corp., Palo Alto Networks Inc., Qualys Inc., Thoma Bravo LP, Trend Micro Inc., WatchGuard Technologies Inc., Zscaler Inc., and Thales Group.

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Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Cloud Security Solutions Market – Segmentation Assessment

The market is segmented by end-user (BFSI, healthcare, retail, government, and others), component (cloud IAM, cloud e-mail security, cloud DLP, cloud IDS/IPS, and cloud SIEM), and geography (North America, Europe, APAC, Middle East and Africa, and South America)

• The cloud security solutions market share growth by the BFSI segment will be significant during the forecast period. Over the past 3-5 years, the BSFI sector has been the constant target of web-based cyber-attacks. Hackers attempt to crash computer systems, steal clients’ money, and harm capital markets. Targeted attacks such as cloud attacks and web application attacks in the BFSI sector have become more sophisticated.

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Cloud Security Solutions Market- Market Dynamics

Key Drivers

The increase in data theft globally is the major factor notably driving the market growth. Enterprises aiming to leverage the advantages of both private and public clouds are increasingly adopting the hybrid cloud model, which enables them to benefit from the security of the private cloud as well as the cost savings of the public cloud. A hybrid cloud delivers cost and flexibility advantages, as well as expanded control over vital data and applications. Moreover, to handle their various business operations, which leads to an upsurge in security threats, businesses prefer to use numerous cloud services. Maintaining corporate data in the hands of cloud service providers raises serious security concerns. This led governments across the globe are legislating new policies to enhance data security through the use of cloud security solutions. Businesses are directed to follow the regulations and best practices for data security or else, these companies may face penalties, which may harm their brand /image. Therefore such factors are expected to drive the market growth during the forecast period.

Major Trend

The growth of the mobile workforce is an emerging trend driving the global cloud security solutions market growth. The rapidly increasing acceptance of the BYOD policy among organizations and the emergence of new mobile technologies such as near-field communication, wearables, and biometric readers are some of the factors driving the size of the mobile workforce. Developing countries have been witnessing a transformation in the working culture of business, with more companies maintaining a mobile workforce to stay competitive and meet the requirements of employees. Consequently, the demand for flexible and easily accessible IT solutions and services is growing. Additionally, changes in work locations, time zone barriers, and the need to access official and confidential data via the devices of employees are also leading to the demand for cloud security services. IT service providers are providing tailor-made cloud security services for smartphones and tablets to address these changes. This trend is anticipated to intensify in the future, thus driving the growth of the cloud security solutions market.

Significant Challenges

The major challenge impeding the global cloud security solutions market growth is the lack of awareness about cloud security solutions among end-users. In recent years, there has been an upsurge in the adoption of cloud computing, but awareness of the potential risks associated with cloud computing is still low among end-users. Many organisations still use conventional security solutions. These organizations lack an understanding of the importance and effective utilization of security solutions. Many end-users, especially in developing countries, still rely on old conventional security solutions to secure their networks. Many of these companies are uncertain about investing heavily in IT security. Furthermore, many end-users from non-traditional industries are not aware of the security risks posed by cloud adoption. Therefore, the lack of awareness about cloud security solutions is anticipated to pose a challenge to the growth of the cloud security solutions market during the forecast period.

What are the key data covered in this Cloud Security Solutions Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the cloud security solutions market  between 2022 and 2026
• Precise estimation of the cloud security solutions market  size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the cloud security solutions market industry across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of cloud security solutions market  vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2021 

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 14: Chart on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2021-2026 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 18: Five forces analysis – Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 24: Chart on Market condition – Five forces 2021 and 2026

5 Market Segmentation by End-user

• 5.1 Market segments 
• Exhibit 25: Chart on End-user – Market share 2021-2026 (%)
• Exhibit 26: Data Table on End-user – Market share 2021-2026 (%)

• 5.2 Comparison by End-user 
• Exhibit 27: Chart on Comparison by End-user
• Exhibit 28: Data Table on Comparison by End-user

• 5.3 BFSI – Market size and forecast 2021-2026
• Exhibit 29: Chart on BFSI – Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Data Table on BFSI – Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Chart on BFSI – Year-over-year growth 2021-2026 (%)
• Exhibit 32: Data Table on BFSI – Year-over-year growth 2021-2026 (%)

• 5.4 Healthcare – Market size and forecast 2021-2026
• Exhibit 33: Chart on Healthcare – Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Data Table on Healthcare – Market size and forecast 2021-2026 ($ million)
• Exhibit 35: Chart on Healthcare – Year-over-year growth 2021-2026 (%)
• Exhibit 36: Data Table on Healthcare – Year-over-year growth 2021-2026 (%)

• 5.5 Retail – Market size and forecast 2021-2026
• Exhibit 37: Chart on Retail – Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Data Table on Retail – Market size and forecast 2021-2026 ($ million)
• Exhibit 39: Chart on Retail – Year-over-year growth 2021-2026 (%)
• Exhibit 40: Data Table on Retail – Year-over-year growth 2021-2026 (%)

• 5.6 Government – Market size and forecast 2021-2026
• Exhibit 41: Chart on Government – Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Data Table on Government – Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Chart on Government – Year-over-year growth 2021-2026 (%)
• Exhibit 44: Data Table on Government – Year-over-year growth 2021-2026 (%)

• 5.7 Others – Market size and forecast 2021-2026
• Exhibit 45: Chart on Others – Market size and forecast 2021-2026 ($ million)
• Exhibit 46: Data Table on Others – Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Chart on Others – Year-over-year growth 2021-2026 (%)
• Exhibit 48: Data Table on Others – Year-over-year growth 2021-2026 (%)

• 5.8 Market opportunity by End-user 
• Exhibit 49: Market opportunity by End-user ($ million)

6 Market Segmentation by Component

• 6.1 Market segments 
• Exhibit 50: Chart on Component – Market share 2021-2026 (%)
• Exhibit 51: Data Table on Component – Market share 2021-2026 (%)

• 6.2 Comparison by Component 
• Exhibit 52: Chart on Comparison by Component
• Exhibit 53: Data Table on Comparison by Component

• 6.3 Cloud IAM – Market size and forecast 2021-2026
• Exhibit 54: Chart on Cloud IAM – Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Cloud IAM – Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Cloud IAM – Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Cloud IAM – Year-over-year growth 2021-2026 (%)

• 6.4 Cloud e-mail security – Market size and forecast 2021-2026 
• Exhibit 58: Chart on Cloud e-mail security – Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Cloud e-mail security – Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Cloud e-mail security – Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Cloud e-mail security – Year-over-year growth 2021-2026 (%)

• 6.5 Cloud DLP – Market size and forecast 2021-2026
• Exhibit 62: Chart on Cloud DLP – Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Cloud DLP – Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Cloud DLP – Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Cloud DLP – Year-over-year growth 2021-2026 (%)

• 6.6 Cloud IDS/IPS – Market size and forecast 2021-2026
• Exhibit 66: Chart on Cloud IDS/IPS – Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on Cloud IDS/IPS – Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on Cloud IDS/IPS – Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on Cloud IDS/IPS – Year-over-year growth 2021-2026 (%)

• 6.7 Cloud SIEM – Market size and forecast 2021-2026
• Exhibit 70: Chart on Cloud SIEM – Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on Cloud SIEM – Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on Cloud SIEM – Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on Cloud SIEM – Year-over-year growth 2021-2026 (%)

• 6.8 Market opportunity by Component 
• Exhibit 74: Market opportunity by Component ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 75: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 76: Chart on Market share by geography 2021-2026 (%)
• Exhibit 77: Data Table on Market share by geography 2021-2026 (%)

• 8.2 Geographic comparison 
• Exhibit 78: Chart on Geographic comparison
• Exhibit 79: Data Table on Geographic comparison

• 8.3 North America – Market size and forecast 2021-2026
• Exhibit 80: Chart on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 81: Data Table on North America – Market size and forecast 2021-2026 ($ million)
• Exhibit 82: Chart on North America – Year-over-year growth 2021-2026 (%)
• Exhibit 83: Data Table on North America – Year-over-year growth 2021-2026 (%)

• 8.4 Europe – Market size and forecast 2021-2026
• Exhibit 84: Chart on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 85: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
• Exhibit 86: Chart on Europe – Year-over-year growth 2021-2026 (%)
• Exhibit 87: Data Table on Europe – Year-over-year growth 2021-2026 (%)

• 8.5 APAC – Market size and forecast 2021-2026
• Exhibit 88: Chart on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 89: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
• Exhibit 90: Chart on APAC – Year-over-year growth 2021-2026 (%)
• Exhibit 91: Data Table on APAC – Year-over-year growth 2021-2026 (%)

• 8.6 Middle East and Africa – Market size and forecast 2021-2026 
• Exhibit 92: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 93: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
• Exhibit 94: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
• Exhibit 95: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)

• 8.7 South America – Market size and forecast 2021-2026
• Exhibit 96: Chart on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 97: Data Table on South America – Market size and forecast 2021-2026 ($ million)
• Exhibit 98: Chart on South America – Year-over-year growth 2021-2026 (%)
• Exhibit 99: Data Table on South America – Year-over-year growth 2021-2026 (%)

• 8.8 US – Market size and forecast 2021-2026
• Exhibit 100: Chart on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 101: Data Table on US – Market size and forecast 2021-2026 ($ million)
• Exhibit 102: Chart on US – Year-over-year growth 2021-2026 (%)
• Exhibit 103: Data Table on US – Year-over-year growth 2021-2026 (%)

• 8.9 China – Market size and forecast 2021-2026
• Exhibit 104: Chart on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 105: Data Table on China – Market size and forecast 2021-2026 ($ million)
• Exhibit 106: Chart on China – Year-over-year growth 2021-2026 (%)
• Exhibit 107: Data Table on China – Year-over-year growth 2021-2026 (%)

• 8.10 UK – Market size and forecast 2021-2026
• Exhibit 108: Chart on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 109: Data Table on UK – Market size and forecast 2021-2026 ($ million)
• Exhibit 110: Chart on UK – Year-over-year growth 2021-2026 (%)
• Exhibit 111: Data Table on UK – Year-over-year growth 2021-2026 (%)

• 8.11 Germany – Market size and forecast 2021-2026
• Exhibit 112: Chart on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 113: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
• Exhibit 114: Chart on Germany – Year-over-year growth 2021-2026 (%)
• Exhibit 115: Data Table on Germany – Year-over-year growth 2021-2026 (%)

• 8.12 Japan – Market size and forecast 2021-2026
• Exhibit 116: Chart on Japan – Market size and forecast 2021-2026 ($ million)
• Exhibit 117: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
• Exhibit 118: Chart on Japan – Year-over-year growth 2021-2026 (%)
• Exhibit 119: Data Table on Japan – Year-over-year growth 2021-2026 (%)

• 8.13 Market opportunity by geography 
• Exhibit 120: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers 

• 9.2 Market challenges 

• 9.3 Impact of drivers and challenges 
• Exhibit 121: Impact of drivers and challenges in 2021 and 2026

• 9.4 Market trends 

10 Vendor Landscape

• 10.1 Overview 

• 10.2 Vendor landscape 
• Exhibit 122: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 123: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 124: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 125: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 126: Matrix on vendor position and classification

• 11.3 Akamai Technologies Inc. 
• Exhibit 127: Akamai Technologies Inc. – Overview
• Exhibit 128: Akamai Technologies Inc. – Business segments
• Exhibit 129: Akamai Technologies Inc. – Key offerings
• Exhibit 130: Akamai Technologies Inc. – Segment focus

• 11.4 Broadcom Inc. 
• Exhibit 131: Broadcom Inc. – Overview
• Exhibit 132: Broadcom Inc. – Business segments
• Exhibit 133: Broadcom Inc. – Key news
• Exhibit 134: Broadcom Inc. – Key offerings
• Exhibit 135: Broadcom Inc. – Segment focus

• 11.5 Cisco Systems Inc. 
• Exhibit 136: Cisco Systems Inc. – Overview
• Exhibit 137: Cisco Systems Inc. – Business segments
• Exhibit 138: Cisco Systems Inc. – Key news
• Exhibit 139: Cisco Systems Inc. – Key offerings
• Exhibit 140: Cisco Systems Inc. – Segment focus

• 11.6 Fortinet Inc. 
• Exhibit 141: Fortinet Inc. – Overview
• Exhibit 142: Fortinet Inc. – Product / Service
• Exhibit 143: Fortinet Inc. – Key offerings

• 11.7 International Business Machines Corp.
• Exhibit 144: International Business Machines Corp. – Overview
• Exhibit 145: International Business Machines Corp. – Business segments
• Exhibit 146: International Business Machines Corp. – Key offerings
• Exhibit 147: International Business Machines Corp. – Segment focus

• 11.8 Microsoft Corp. 
• Exhibit 148: Microsoft Corp. – Overview
• Exhibit 149: Microsoft Corp. – Business segments
• Exhibit 150: Microsoft Corp. – Key news
• Exhibit 151: Microsoft Corp. – Key offerings
• Exhibit 152: Microsoft Corp. – Segment focus

• 11.9 Musarubra US LLC 
• Exhibit 153: Musarubra US LLC – Overview
• Exhibit 154: Musarubra US LLC – Product / Service
• Exhibit 155: Musarubra US LLC – Key offerings

• 11.10 NTT DATA Corp. 
• Exhibit 156: NTT DATA Corp. – Overview
• Exhibit 157: NTT DATA Corp. – Product / Service
• Exhibit 158: NTT DATA Corp. – Key offerings

• 11.11 WatchGuard Technologies Inc. 
• Exhibit 159: WatchGuard Technologies Inc. – Overview
• Exhibit 160: WatchGuard Technologies Inc. – Product / Service
• Exhibit 161: WatchGuard Technologies Inc. – Key offerings

• 11.12 Zscaler Inc. 
• Exhibit 162: Zscaler Inc. – Overview
• Exhibit 163: Zscaler Inc. – Product / Service
• Exhibit 164: Zscaler Inc. – Key offerings

12 Appendix

• 12.1 Scope of the report 

• 12.2 Inclusions and exclusions checklist
• Exhibit 165: Inclusions checklist
• Exhibit 166: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 167: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 168: Research methodology
• Exhibit 169: Validation techniques employed for market sizing
• Exhibit 170: Information sources

• 12.5 List of abbreviations 
• Exhibit 171: List of abbreviations

• The other end-user segment includes government, media and entertainment, and travel and transport. Companies operating in these sectors are investing in cloud security solutions to develop platforms that would help them in better sec

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