The global cloud security market is estimated to be $4.20 billion in 2014 and is expected to grow to $8.71 billion in 2019, according to a new report available on ASDReports.com. The major forces driving this market are accelerated adoption of cloud computing, growing cloud specific attacks, absence of strict regulations on cloud hosting service providers and an increase in need of identity and access management.
The prime opportunity which is expected to boost this market is increase in adoption of cloud hosting services by Small and Medium Size Businesses (SMBs), according to the report.
In the current scenario, North America is expected to be the largest market on the basis of spending and adoption for the cloud-based security services market. This study further expects that the increase in the markets of identity and access management and managed security services in the developing economies will further enhance the growth of this market.
Niche cloud security areas
There are three types of vendors operating in Cloud Security including pure play security vendors, traditional security solution providers and diversified IT vendors. The latter holding the majority of market share. These companies serve a diversified base of end-users. Also, these vendors have strong technological leadership and reseller networks.
Diversified IT vendors may not have expertise in niche security areas, but they tend to acquire emerging companies to gain entry in to the market and eventually gain technological expertise in various security domains. Some of the well-known companies in this segment are IBM, Novell and Symantec.
The biggest players in the Cloud Security market, which contribute to the major market share are CA Technologies, IBM, Symantec, Symplified, Fortinet, McAfee, Sophos, Trend Micro, Zscaler, and Panda Security.
This study by ASDReports has segmented the global Cloud Security market:
- by services – cloud IAM/IDaaS, data loss prevention, web security (WAF), email security, cloud IDS/IPS, SIEM (log management and analysis), encryption, BCDR, network security, cloud database security, and virtualization security.
- by deployment – public cloud hosting, private cloud, and others (hybrid and community).
- by industry verticals – government and public utilities, IT and telecommunication, healthcare and life sciences, BFSI, retail, manufacturing, transportation and others.
- by regions – North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA).
More information on the Cloud Security Market report: https://www.asdreports.com.
