Stratview Research delivers key insights on the Cloud security Market. According to Stratview Research, the market is segmented by Application (Financial Services, IT and telecom, Government, Education, Healthcare, Media, and entertainment, Others), Deployment (Public, Private, Hybrid), Organization Size (Small and Medium Enterprise (SME), Large enterprise) and Region (North America, Europe, Asia Pacific & rest of the World).

Market Insights

The report suggests that the overall global cloud security market is estimated to grow from USD 39.03 billion in 2022 and is likely to grow at a CAGR of 13.70% during 2023-2028 to reach USD 84.77 billion by 2028.

Market Trends:

Forbes states that, by 2020, 83% of the company workload will be held on the cloud. To neutralize the constantly changing threat scenario, major cloud providers like Amazon and Google heavily invest in upgrading their cloud security capabilities. Due to the COVID-19 pandemic, demand for cloud-based services has increased significantly. The outbreak of the pandemic forced enterprises to adopt cloud services to a huge extent due to work-from-home scenarios worldwide.

During the pandemic, Microsoft reported a 775% increase in demand for its cloud service platform. Additionally, managed services are becoming more popular among SMEs as a result of their inability to effectively manage cloud services in-house.

Restraints:

Inadequate knowledge: Businesses often have inadequate knowledge of potential security risks in cloud computing, leading to overlooking the shared responsibility model and assuming cloud service providers are responsible for all security aspects.

Complicated process: Cloud computing's complexity challenges organizations in addressing security threats and vulnerabilities, making it challenging to implement and manage effective solutions.

Key Players

The following are some of the key players in the Cloud security market:

• Panda Security (Spain)
• Sophos, Ltd. (UK)
• Symantec Corporation (US)
• Trend Micro, Inc. (Japan)
• CloudPassage Inc. (US)

FREQUENTLY ASKED QUESTIONS

The report answers several questions related to the market. The user can get to know the answers to the following questions…

-          What is the global demand for Cloud security market in terms of revenue?

-          Which are the prominent players in the market?

-          At what CAGR is the market projected to grow within the forecast period?

-          What are the driving factors fuelling the growth of the market?

-          Which region accounted for the largest share in the market?

-          How did the Covid19 impacted the market?

-          How long will it take to recover from the Covid impact?

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-          Attractive market segments and associated growth opportunities.

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Stratview Research is a leading global market research firm providing expert research solutions, trusted by clients worldwide. To keep our clients ahead of the curve, we provide data backed by extensive market research and in-depth industry knowledge. The broad spectrum of integrated insights is referred to, and cited by press releases, interview with key players, white papers, journals, etc. Stratview research also offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please connect with our team.

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