#Cloud Security Market

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Cloud Security Market Expected To Achieve Lucrative Growth By 2030

The global cloud security market size is projected to reach USD 75.26 billion by 2030, and is anticipated to register a CAGR of 13.1% from 2023 to 2030, according to a new study by Grand View Research Inc. Growth of the market can be attributed to the rising global interconnection of enterprises that need secure and scalable solutions. Cloud security, which deals with both localized and global cyber risks, emerges as a crucial driver, offering enterprises the ability to navigate interconnected digital ecosystems effectively. Organizations are rapidly moving operations to the cloud to improve adaptability, expansion, and cost efficiency.

As the volume of sensitive data in cloud environment grows, the need to secure these digital assets fuels demand for robust cloud security solutions. Cloud security solutions handle specific issues, protecting against cloud-native risks like configuration errors, data breaches, and unauthorized access to data. The increasing threat landscape needs specific security measures, driving the growth of the market. 

Moreover, the Secure Access Service Edge (SASE) framework blends network security operations with wide-area networking (WAN) capabilities to address enterprises' dynamic and secure access needs. Cloud security solutions adapt to SASE principles by offering secure access from any place and at any time. The cloud's convergence of networking and security reflects the changing needs of modern businesses. Cloud security solutions have broad incident response capabilities, allowing enterprises to swiftly identify, investigate, and fix threats.

Future cloud security methods will depend significantly on continuous identification, monitoring, and behavioral analytics. Cloud security systems are widely adopting real-time monitoring of user behaviors, network activity, and system interactions. Enhanced threat intelligence platforms will be vital for cloud security over the forecast period. These systems collect information from various sources, such as global threat sources and industry-specific intelligence.

The growing and dynamic nature of data protection and cybersecurity rules presents uncertainties that limit the growth of the market. With a lack of awareness about evolution of regulations and the way they operate, organizations are hesitant to invest heavily in cloud security solutions. Specific knowledge of cloud structure, identity and access management, predictive maintenance, and threat detection is crucial due to complexity of cloud environments.

The scarcity of experienced personnel capable of installing and monitoring cloud security measures hinders the effective implementation of robust security policies. Addressing the skills gap is vital for achieving the complete potential of cloud security solutions. The design of future market for cloud security will prioritize user experience and its usability. Logical interfaces, user-friendly workflows, and efficient management devices will aid in the effective implementation and administration of cloud safety procedures.

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Cloud Security Market Report Highlights

Based on component, the services segment is anticipated to register the fastest CAGR of 14.5% over the forecast period. The global regulatory landscape's complexity will fuel demand for regulatory compliance and governance services. Service providers are expected to supply enterprises with customized options to meet compliance needs by navigating and complying with numerous privacy and data security standards

Based on solution, the Cloud Infrastructure Entitlement Management (CIEM) segment is anticipated to register the fastest CAGR of 13.9% over the forecast period. This growth is attributable to the advancement of cloud ecosystem. These solutions will connect effectively with various cloud environments, enabling multi-cloud and hybrid cloud structures while offering an integrated overview of credentials and access controls

Based on services, the managed services segment is expected to register the fastest CAGR of 18.2% over the forecast period. A preventive approach to threat detection and response will define the future of managed services. Managed service providers will use modern technologies such as artificial intelligence (AI) and machine learning (ML) in real-time to evaluate patterns, detect abnormalities, and flag possible security incidents

Based on deployment, the hybrid segment is anticipated to register a significant CAGR of 13.5% over the forecast period. The focus on zero-trust security frameworks will grow in the future of hybrid cloud security. A standard perimeter-based security solution proves insufficient in a hybrid framework when data and applications are deployed across numerous sites

Based on enterprise size, the small & medium enterprises (SMEs) segment is expected to register the fastest CAGR of 15.5% over the forecast period. As SMEs adopt digitalization and cloud technology, the growing cloud security landscape presents difficulties and opportunities that will influence their approach to securing private information, ensuring company sustainability, and prompting the segment growth

Based on end-use, the healthcare segment is anticipated to register the fastest CAGR of 15.3% over the forecast period. The introduction of robust encryption techniques for data at rest and in transit, along with complex authentication processes ensures that only authorized employees have access to patient information and will be the future of cloud security in healthcare

The Asia-Pacific region is anticipated to register the fastest CAGR of 14.8% over the forecast period. The future of this region in the market will be defined by a deliberate alignment of cybersecurity measures with the region's technological targets

Cloud Security Market Segmentation

Grand View Research has segmented the global cloud security market based on component, deployment, enterprise size, end-use, and region:

Cloud Security Component Outlook (Revenue, USD Billion, 2018 - 2030)

Solution

Cloud Access Security Broker (CASB)

Cloud Detection and Response (CDR)

Cloud Security Posture Management (CSPM)

Cloud Infrastructure Entitlement Management (CIEM)

Cloud Workload Protection Platform (CWPP)

Services

Professional Services

Managed Services

Cloud Security Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

Private

Hybrid

Public

Cloud Security Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

Large Enterprises

Small & Medium Enterprises (SMEs)

Cloud Security End-use Outlook (Revenue, USD Billion, 2018 - 2030)

BFSI

Retail & E-commerce

IT & Telecom

Healthcare

Manufacturing

Government

Aerospace & Defense

Energy & Utilities

Transportation & Logistics

Others

Cloud Security Regional Outlook (Revenue, USD Billion, 2018 - 2030)

North America

U.S.

Canada

Europe

UK

Germany

France

Italy

Spain

Asia Pacific

China

India

Japan

Australia

South Korea

Latin America

Brazil

Mexico

Argentina

Middle East and Africa

UAE

Saudi Arabia

South Africa

List of Key Players in the Cloud Security Market

Amazon Web Services, Inc.

Broadcom, Inc.

Check Point Software Technologies Ltd.

Cisco Systems, Inc.

Extreme Networks, Inc.

Fortinet, Inc.

F5, Inc.

Forcepoint

International Business Machines Corporation

Imperva

Palo Alto Networks, Inc.

Proofpoint, Inc.

Sophos Ltd.

Trellix

Zscaler, Inc.

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According to the report, the global cloud security industry generated $35.8 billion in 2022, and is anticipated to generate $125.8 billion by 2032, witnessing a CAGR of 13.6% from 2022 to 2032.

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The cloud security market has grown in direct proportional to the increasing adoption of cloud. APAC News Network explores the trends and dynamics of this market and analyses the top players.

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Cloud Data Security Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2027

Report define, describe, and forecast the cloud data security market based on offerings, organization sizes, offering types, verticals, and regions.

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In-Depth Study of the Healthcare Cloud Security Market

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As the healthcare industry increasingly embraces digital transformation, the need for robust cloud security solutions is more critical than ever.

The Healthcare Cloud Security Market is witnessing significant growth, driven by the rising adoption of cloud-based solutions for managing patient data, improving operational efficiency, and enabling advanced analytics.

Key Trends:

Compliance and Regulatory Requirements: Ensuring compliance with regulations like HIPAA and GDPR is a top priority for healthcare organizations. Cloud security solutions are evolving to meet these stringent requirements and protect sensitive patient information.

Increased Cybersecurity Threats: With the rise in cyberattacks targeting healthcare systems, including ransomware and data breaches, the demand for advanced security measures to safeguard cloud environments is growing.

Integration with AI and Machine Learning: The integration of AI and machine learning in cloud security solutions enhances threat detection, automates responses, and improves overall security posture.

Focus on Data Encryption: Encryption remains a cornerstone of cloud security, ensuring that patient data is protected both in transit and at rest.

Emergence of Multi-Cloud Strategies: Healthcare organizations are adopting multi-cloud strategies for flexibility and resilience, necessitating comprehensive security solutions that can manage risks across multiple cloud environments.

Access Full Report: https://www.nextmsc.com/report/healthcare-cloud-security-market

Market Outlook: The Healthcare Cloud Security Market is expected to continue its upward trajectory, with increased investments in advanced security technologies and solutions. As healthcare providers seek to balance innovation with security, cloud security will play a pivotal role in safeguarding patient data and maintaining trust.

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Cyber Security Market - Forecast(2024 - 2030)

Cyber Security Market Overview

Cyber Security Marketsize is forecast to reach $360 billion by 2030, estimated to grow at a CAGR of 9.5% during 2024-2030. The increasing use of technology such as artificial intelligence, IoT, machine learning and so on are significantly driving the cybersecurity market. Furthermore, the increasing demand for cloud-based cybersecurity systems in order to reduce data loss are also enhancing the growth of the market. The rising demand for network and endpoint security, information technology security mobile security, behavioral detection is fueling the growth of the market during the forecast period. The telecom organizations are adopting advanced cyber security solutions such as real-time security monitoring, instant cyber posture visibility, and rapid threat resolution to prevent the cyber-attack on telecom networks. Along with the telecom sector, the aerospace industry is considered to be another key end-users to cyber security market. The aerospace and defense industry are prone to cyber-attack due to its continuous exposure to non-A&D, OT-based technologies.

Thus, this industry is adopting advanced cybersecurity solution to enhance protection against cybercrime. The rising need for solutions ranging from antivirus software, unified threat management system, next-generation firewalls, DNS filtering, malware protection and threat intelligence will drive the demand for cyber security. One prominent trend in the cyber security market is the increasing adoption of Zero Trust Architecture (ZTA). This approach challenges the traditional perimeter-based security model by assuming that threats can originate from both inside and outside the network. ZTA emphasizes strict identity verification and access controls, requiring continuous authentication and authorization for every user and device attempting to access resources. With the proliferation of cloud services, remote work, and mobile devices, organizations are realizing the limitations of perimeter defenses alone. As a result, they are turning to ZTA to bolster their defenses and mitigate the risks associated with insider threats, unauthorized access, and advanced persistent threats. 

The growing recognition of ZTA's effectiveness in enhancing security posture is driving significant investment in Zero Trust solutions across various industries. Another key trend shaping the cyber security market is the increasing integration of artificial intelligence (AI) and machine learning (ML) technologies for threat detection and response. As cyber threats become more sophisticated and prevalent, organizations are turning to AI-driven solutions to augment their security operations. AI and ML algorithms can analyze vast amounts of data in real-time, enabling early detection of anomalies, unusual patterns, and potential security breaches. These technologies empower security teams to identify and respond to threats more efficiently, reducing detection and response times. Moreover, AI-driven security solutions can automate repetitive tasks, freeing up security personnel to focus on more strategic initiatives. With the continuous evolution of cyber threats, the demand for AI-powered security tools and platforms is expected to grow, driving innovation and investment in the development of advanced threat detection and response capabilities.

Cyber Security Market Report Coverage

The report: “Cyber Security Market Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Cyber Security System Market.

By Component: Cyber Security Software, Cyber Security Hardware, Cyber Security Services.

By Deployment: On-Premise and Cloud.

By Security Type: Network & Endpoint Security, Internet of Things/Industrial Internet of Things Security, Threat Intelligence, Mobile Security, Behavioral Detection, Cloud Security, Deception Security and Others.

By Organization Size: SME, Large Enterprise.

By Solution: Antivirus, UTM, SIEM, DDOS Mitigation, Disaster Recovery, Firewall, DLP, Web Filtering, Threat Intelligence, IAM, Risk and Compliance Management, IDS, Encryption and Others.

By Industry Vertical: Aerospace, Government, Financial Services, Healthcare, Telecommunications, Automobile, Information Technology sector and others

By Geography: North America (U.S, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Russia, Netherlands, Denmark and Others), APAC(China, Japan India, South Korea, Australia, Taiwan, Malaysia and Others), South America(Brazil, Argentina, Ecuador, Peru, Colombia, Costa Rica and others), and RoW (Middle east and Africa)

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Key Takeaways

• In 2023, the Cyber Security market was dominated by North America owing to the increasing use of prevalent technology which has raised the risk of cyber threat leading to the need for cybersecurity solutions.

• The rising demand for cloud-based cybersecurity solutions in order to store and secure data during data loss or data breaches has driven the growth of the market

• The rapid advancement of artificial intelligence leading to the introduction of technologies such as machine learning and deep learning which will enhance the growth of the market.

• The rising security threats due to the increasing use of Blockchain systems and IoT threats are making difficult to detect cyber-attacks which is hampering the market growth.

Cyber Security Market Segment Analysis – By Deployment

Cloud segment held the largest market share of 53.1% in the Cybersecurity market in 2023. The growing of massive store applications in order to store and secure data with advanced security methods are driving the need for cloud-based security solutions. As cloud-based cybersecurity solutions offers social networking privacy, online storage, system optimization and so on. Furthermore, the rising demand for online cloud storage leads to provide backup and restorations of data caused due to data breaches or data loss. These significant advantages of cloud technology will lead to surge the growth of the market.

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Cyber Security Market Segment Analysis - By Industry Vertical

The telecom sector is estimated to grow at a CAGR of 10.2% during the forecast period 2023-2030. The GSM Association (GSMA) predicted that quantum computing will be a destabilizer for the telecom sector, making Public Key Infrastructure (PKI) obsolete in the near future. Telecommunication companies are in plans of implementing quantum-safe cryptography algorithms to mitigate cyber-attacks. In order to control cyber-attacks, the European Union (EU) has introduced many regulations such as the Network and Information Security Directive (NISD) and the General Data Protection Regulations (GDPR). NISD is yet to be implemented which requires core digital infrastructure operators and certain digital service providers to ensure that their network and information systems meet minimum standards of cybersecurity. These regulations are implemented to achieve and maintain high network security, and ensure obligatory reporting during any incidents.

Cyber Security Market Segment Analysis – By Geography

In 2023, North America dominated the Cyber Security market with a share of more than 40.2%, followed by Europe and APAC. The growing use of technology and data has led to the rise of most vulnerable cyber threats and crimes which is leading to the growth of this market in this region. Also, the financial stability in this region has allowed organization to invest in cybersecurity for providing security of data and software. These developments are propelling the growth of cybersecurity market in North America.

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Cyber Security Market Drivers

Rising importance Artificial Intelligence (AI)

The rising advancement in artificial intelligence is leading to the introduction of machine learning technologies into products which includes cybersecurity. Moreover, technologies such as deep learning are being used for face detection, natural language processing, threat detection, and others concepts. Also, the acceleration of artificial intelligence (AI) has led to the identification of new threats and helps in responding and block cyber-attacks in an organization. Hence, the deployment of artificial intelligence technologies will further drive the growth of the cybersecurity market.

Increasing need for Cybersecurity in Aerospace

Aerospace industry is widely developing with the integration of new technology such as advanced navigation and guidance systems. This system are used in airplanes which are highly vulnerable to cyber-attacks, which have irrevocable repercussions. So, the rising risk of cyber-attacks and the increasing need to protect the computer networks in the air are leading to the rise of investment in the security infrastructure. Thus, the rising investment by aerospace industry in the security infrastructure has led to the requirement of cybersecurity further boosting the growth of the market.

Cyber Security Market Challenges

Revolution of Blockchain and IoT Threats

The rising demand for Blockchain systems has made it difficult to predict the rising cyber threats which is hindering the cybersecurity market. Furthermore, the increasing usage of IoT has led to the growing number of IoT threats, as IoT includes the connection of physical devices which have a unique identifier (UID). These devices has the ability to transfer data over a network without any human interference and human to computer interaction. Thus, the software and firmware which are required to run these IoT devices make the user more susceptible to cyber-attacks further hindering the growth of the market.

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Cyber Security Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Cyber Security market. In 2023, the market of Cyber Security has been consolidated by the major players – AWS, Check Point Software Technologies, NTT Security, Cisco Systems, CyberArk, FireEye, IBM Corporation, Oracle, Microsoft and Juniper Networks.

Acquisitions/Technology Launches

In December 2023, Multinational conglomerate Honeywell has agreed to buy Carrier’s Global Access Solutions business for $4.95 billion in cash. The acquisition will strengthen Honeywell’s core security offerings with the addition of hardware and software properties

In Nov 2023, US-based data security company Rubrik has launched Ruby, its generative AI extension for Rubrik Security Cloud, which will speed up cyber threat detection, recovery and resilience. In response to data risk alerts generated in Rubrik Security Cloud, users can interact with Ruby, the company's AI assistant, ask follow-up questions including whether any sensitive data was impacted, or what needs to be done to restore the environment. 

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Unlocking Secure Digital Identities: Exploring the Identity as a Service (IDaaS) Market

Safeguarding Digital Frontiers: The Evolution of Identity as a Service (IDaaS) Market

In today's digital age, where online transactions and interactions have become ubiquitous, ensuring the security of digital identities has become paramount. Enter Identity as a Service (IDaaS), a rapidly growing market that offers innovative solutions to manage and authenticate digital identities securely. This article delves into the evolution of the IDaaS market, its key drivers, and its implications for cybersecurity and digital identity management.

The IDaaS market has witnessed remarkable growth in recent years, driven by the escalating threat landscape, the proliferation of cloud-based services, and the need for seamless user authentication mechanisms. Organizations across various sectors are turning to IDaaS solutions to enhance their security posture, streamline access management, and ensure regulatory compliance.

One of the primary drivers fueling the expansion of the Identity as a Service IDaaS market is the increasing adoption of cloud computing and mobile devices. As businesses embrace cloud-based services and remote work arrangements, traditional perimeter-based security measures are becoming obsolete, necessitating a more dynamic and adaptive approach to identity management.

Moreover, regulatory frameworks such as GDPR and CCPA have heightened the importance of robust identity management practices, compelling organizations to invest in solutions that offer greater visibility, control, and accountability over user access and data usage.

IDaaS solutions offer a range of benefits, including enhanced security, scalability, and flexibility. By outsourcing identity management to specialized service providers, organizations can leverage advanced authentication mechanisms such as multi-factor authentication (MFA), biometric verification, and risk-based authentication to fortify their digital infrastructure against cyber threats.

Furthermore, IDaaS platforms enable organizations to centralize identity management across diverse environments and applications, simplifying administrative overhead and ensuring consistent security policies across the enterprise.

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Looking ahead, the IDaaS market is poised for continued growth, driven by ongoing technological advancements, evolving regulatory requirements, and the imperative for robust cybersecurity practices. However, challenges such as data privacy, interoperability, and the evolving nature of cyber threats remain key considerations for organizations seeking to adopt IDaaS solutions.

In conclusion, the IDaaS market represents a paradigm shift in identity management, offering organizations the tools and technologies needed to navigate the complexities of the digital age securely. As businesses continue to embrace digital transformation initiatives, the role of IDaaS in safeguarding digital identities and protecting sensitive information will become increasingly vital, shaping the future of cybersecurity and digital identity management.

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