Cloud Security Market Opportunities and Key Market Players

Posted on 2019-11-11 by MarketsandMarkets in Technology // 0 Comments

The overall Cloud Security Market is expected to grow from USD 4.09 billion in 2017 to USD 12.73 billion by 2022, at a CAGR of 25.5% from 2017 to 2022, as per a report by MarketsandMarkets.

Cloud security helps organizations protect networks, endpoints, and applications from various malicious attacks, sophisticated cybercriminals, ransomwares, & Advanced Persistent Threats (APTs). The major forces driving the cloud security market are the increased adoption of Bring Your Own Device (BYOD) & Internet of Things (IoT) trends, rise in adoption of cloud-based security services, increasing demand for cloud computing & increasing government initiatives, and emergence of smart cities. Therefore, enterprises are deploying advanced cloud security services to secure networks and endpoints from cyber threats.

How rise in the adoption of advanced cloud security solutions in healthcare industries presents an opportunity?

Advanced cloud security solutions provide huge opportunities in healthcare. Cloud computing technologies enable huge storage capacity for storing information, patient’s records, files, and images in a digital format, thus providing access to medical data at remote locations. The adoption of cloud computing in healthcare has slowed due to concerns related to compliance issues such as HIPAA (used to protect the information associated with individual patients). According to “Cloudlock’s Q4 2015 Cybersecurity Report,” the concern before the healthcare industry is to secure Protected Health Information (PHI) sharing. Furthermore, according to Bitglass’ second annual “Cloud Adoption Report,” cloud adoption in healthcare is slow due to HIPAA compliance. To overcome these concerns, cloud security vendors are developing advanced cloud security solutions that can work with these compliances.

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Key Market Players for Chatbots Market

The key players in the cloud security market include Trend Micro, Inc. (Tokyo, Japan), Intel Security (California, U.S.), Symantec Corporation (California, U.S.), IBM Corporation (New York, U.S.), Cisco systems (California, U.S.), CA Technologies, Inc. (New York, U.S.), CSC (Virginia, U.S.), and Fortinet, Inc. (California, U.S.). These players have adopted various strategies, such as partnerships, agreements, & collaborations, acquisitions, and new product developments to achieve growth in the global cloud security market.

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