According to the latest report by IMARC Group, titled “Cloud Security Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the market exhibited strong growth during 2015-2020. The global cloud security software market to grow at a CAGR of around 15% during 2021-2026. 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.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Broadcom, Inc.
- TrendMicro
- IBM Corporation
- Cisco Systems
- RSA Security
- McAfee
- Microsoft Corporation
- Dell Corporation
- Hewlett Packard Enterprise
- BMC Software
- Bitium
- CipherCloud
- Cloudpassage
- Check Point Software Technologies
- Fortinet
- VMware
- Sophos
- Gemalto NV
- Imperva, Inc
Cloud Security Software Market Segmentation:
Our report has categorized the market based on region, type, deployment, end-user and vertical.
Market Breakup by Type:
- Cloud Identity and Access Management
- Data Loss Prevention
- Email and Web Security
- Cloud Database Security
- Network Security
- Cloud Encryption
Market Breakup by Deployment:
- Public
- Private
- Hybrid
Market Breakup by End-User:
- Small and Midsize Business (SMBs)
- Large Enterprises
- Cloud Service Providers
- Government Agencies
- Others/Third Party Vendors
Market Breakup by Vertical:
- Healthcare
- Banking, Financial Services and Insurance (BFSI)
- Information Technology (IT) & Telecom
- Government Agencies
- Retail
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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