Cloud Security is projected to grow from US$ 40.4 billion in 2030 to US$ 150.2 billion by 2029. Rising adoption of cloud computing by small and medium sized enterprises (SMSE) is driving demand for global cloud security market over the globe. In addition, increasing use of smartphones and internet penetration is another major factor propelling growth of the global cloud security market. Furthermore, emerging technologies such as internet of things and organizations implementing bring your own devices initiatives, resulting in rising incidence of cloud attacks on applications are boosting growth of the global cloud security market. Increasing government initiative towards smart cities can create lucrative opportunity for players in the Cloud Security Market.

The report "Global Cloud Security Market, By Service Type (Cloud Identity and Access Management, Data Loss Prevention, Email and Web Security, Cloud Database Security, and Network Security), By Deployment Type (Public Cloud, Private Cloud, and Hybrid Cloud), By Industry Vertical (Government, Banking, Financial Services, and Insurance (BFSI), IT and Telecommunication, Healthcare and Pharmaceuticals, and Others), and Region - Global Forecast to 2029"

Key Highlights:

• In February 2018, for instance, Cisco Systems, Inc. has collaborated with Telenor Group for expand their joint innovation across cloud security to help customers evolve their networks to be more flexible and programmable.

Key Market Insights from the report:          

The global cloud security market accounted for US$ 40.4 billion in 2020 and is projected to register a CAGR of 15.7 % over the forecast period. The market report has been segmented on the basis of service type, deployment type, industry vertical, and region.

• By service type, the global cloud security market is segmented into cloud identity and access management, data loss prevention, email and web security, cloud database security, and network security.
• By deployment type, the public cloud segment accounted for major revenue share in 2018, owing to wide spread use of public cloud services.
• By industry vertical, the IT and telecommunication segment accounted for major revenue share in 2018, owing to increasing requirements of data repositories and criticality of information stored.
• By region, North America cloud security market accounted for major revenue share of the global cloud security market and is further anticipated to maintain its dominance over the forecast period. Availability of large number of cloud security vendors in countries of the North America regions. Europe cloud security market accounted for second-highest market share, in 2019, owing to rapid technological advancements, robust internet infrastructure, and surging adoption of cloud technology are among the key factors contributing to the growth of the region. Asia Pacific cloud security market is expected to grow at the highest rate during the forecast period, due to increasing implementation of the technology across different verticals and rapidly developing infrastructure.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Cloud Security Market”, By Service Type (Cloud Identity and Access Management, Data Loss Prevention, Email and Web Security, Cloud Database Security, and Network Security), By Deployment Type (Public cloud, Private Cloud, and Hybrid Cloud), By Industry Vertical (Government, Banking, financial Services, and Insurance (BFSI), IT and Telecommunication, Healthcare and Pharmaceuticals, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029

The prominent player operating in the global cloud security market includes CA Technologies Inc., Trend Micro Inc., Cisco Systems, Inc., Intel Security Public Sector LLC, Fortinet Inc., IBM Corp., Intel Corp., VMware, Inc., CipherCloud, Inc., and BMC Software, Inc.

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