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Boosted the Growth of Cloud Security Market in Small and Medium Business in all Kind of Industries
Earlier, the use of cloud security serviceswas limited tolarge enterprises and government agencies.But now,the increase in adoption of the cloud computing by small and medium business in all kind of industries, has boosted the growth of cloud security market. With the emergence of advanced technologies, companies are now storing thedata on cloud and in data centers.Hence, protection of these valuable data isof prime importance. On the other hand, the rapid increase in the remote workforce, and accessing data and information from different locations, has raised the question of authentication and security. With the adoption of Software-as-a-Service (SaaS) applications and other cloud based services had encouraged the organizations to adopt cloud security solutions and services. Thus, all these factors have boosted the cloud-based security services market.This market is expected to grow steadily in the near future.
Along with many drivers pushing this market to grow, on the contrary, there are few potential barriers hindering the growth of cloud security market. One of the most common barriers is cloud security solutions lack strong and robust network connection. Some of the SMBís and enterprises are still pegged with slow and inconsistent network connections. The issue of improper network connection is expected to result in cloud services and applications being unprotected. Also, slow network connections are expected to result in latency issues which would delay security scanning process.
With the advent of technologies such as Bring-Your-Own-Device (BYOD), virtualization and cloud computing, vendors are trying to offer all kind of security services through cloud in the form of a complete security solution. These security services include cloud identity and access management or IDaaS, data loss prevention, email security, web security (WAF), SIEM (log management and analysis), encryption, BCDR, network security, cloud database security, and virtualization security. Among all these services the top three contributors to the cloud security market would be cloud IAM/IDaaS, email security, and web security. The major players in this market include CA Technologies, IBM, Symantec, Symplified, Fortinet, McAfee, Sophos, Trend Micro, Zscaler, and Panda Security.
With the increasing usage in different sectors, the cloud security market is gaining traction, and it is expected that this market will grow from $4.2 billion in 2014 to $8.71 billion in 2019 at a CAGR of 15.7% from 2014 to 2019.Presently, North America (NA) is the largest market for cloud-based security services. The growing economies of Western Europe, Latin America (LA) and Middle East would also provide good opportunities for this market.
Cloud Security Market (Cloud IAM/IDAAS, DLP, Web Security, Email Security, Cloud IDS/IPS, SIEM, Encryption Services, BCDR, Network Security, Cloud Database Security, Virtualization Security) - Global Advancements, Forecasts & Analysis (2014-2019)
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