Multi-cloud Security Market by Offering (Solution and Services), Cloud Model (IaaS, PaaS, and SaaS), Application (Network, Endpoint), Verticals (BFSI, Healthcare, IT and ITeS, Retail and eCommerce), Organization Size Region - Global Forecast to 2027
[277 Pages Report] The global multi-cloud security market is projected to grow from an estimated value of USD 4.4 billion in 2022 to USD 10.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.7% from 2022 to 2027. There has been a rise in the cyberattacks faced by organizations in the recent years. This factor is expected to contribute to the growth of the multi-cloud security market. There is a significant demand for multi-cloud security solutions across verticals, such as BFSI, healthcare, telecommunication, IT & ITeS, retail and eCommerce, and others.
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Multi-Cloud Security Market Dynamics
Driver: Growing government support for multi-cloud security solutions
Several regulations control the operation of the multi-cloud security market. Organizations and governments worldwide are opting for initiatives in multi-cloud environments. The National Institute of Standards and Technology is establishing a Multi-Cloud Security Public Working Group (MCSPWG) to research the best practices for securing complex cloud solutions involving multiple service providers and clouds. The MCSPWG research will focus on identifying the challenges of implementing secure multi-cloud systems and developing guidance and best practices for mitigating the identified challenges. The Cloud Smart Federal Computing Strategy encourages US federal agencies to accelerate cloud adoption and modernize their IT infrastructures, leverage cloud technology scalability, and speed-to-market by expanding and diversifying cloud portfolios to incorporate multi-party cloud solutions. Organizations using cloud computing technologies must comply with PCI DSS and HIPAA regulations. These initiatives and regulations implemented by the government have prompted organizations to adopt multi-cloud security solutions to secure multi-cloud environments.
Restraint: Limited skilled expertise for deployment of multi-cloud security solutions
The deployment of multi-cloud security solutions requires the necessary technical skills and knowledge. Additionally, the increasing establishment of cloud-native startups and companies requires a talent pool with strong expertise. The increasing use of cloud technology worldwide has contributed to the growing demand for employees possessing skills in the usage of sophisticated technologies. As the organizations are rebounding from the economically impeding lockdowns of Covid-19, hiring people with the required skill set is challenging. As data integrity and security have grown extremely important in recent years, sourcing technical talent has also gained significant importance. With talent shortages worldwide, training existing staff has become more important to meet the rising demand for data migration and storage. The 2021 Open Source Jobs Report by Linux Foundation provides data on specific areas wherein skill requirements are most acute. For instance, the report reveals that cloud-native skills are more in demand than other technical disciplines. 61% of the professionals surveyed reported that organizations using the cloud have increased since 2020. Therefore, the increasing adoption of the cloud is expected to drive the need for personnel to handle security solutions.
Opportunity: Adoption of BYOD and remote working models to offer lucrative growth
Organizations are increasingly adopting the BYOD (Bring Your Own Device) and work-from-home model. Organizations using the BYOD concept and cloud-based systems enable employees to work remotely while using the office network. With the increasing popularity of different cloud offerings and BYOD policies, enterprises are eventually moving toward a multi-cloud deployment model. Remote work helps companies avoid loss of productivity and protects public health. The health and economic crisis related to the Covid-19 pandemic and the physical distancing measures required has prompted many firms to introduce work-from-home for their employees on a large scale. Additionally, many organizations are adopting the BYOD trend to reduce initial infrastructure deployment and maintenance expenses. High dependence on the BYOD and WFH trend urges organizations to secure their office cloud servers to enhance their security and enable business continuity, thus driving the demand for multi-cloud security solutions.
Challenge: Disaster Recovery Planning
In multi-cloud deployment, reliability and disaster recovery play an important role. Disasters occur for cloud providers; therefore, organizations plan to recover when they occur. Understanding the failure modes of each cloud provider and how they affect the application stack is important for building reliable applications. Recovering from a disaster across multiple cloud providers can prove to be difficult. Often, each cloud provider has a different method of enacting a recovery process. The increased complexity can further inhibit the predefined recovery point and time objectives. Compromised recovery point and recovery time objectives could lead to service level agreement violations with time. Therefore, a reliable disaster recovery plan must be in place for the smooth operations of multi-cloud environments.
Multi-Cloud Security Market Ecosystem
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By offering, services segment to grow at higher CAGR, during the forecast period
Multi-cloud security services include professional and managed services. The professional services comprise deployment, operation, and optimization. It enables planning the security design, creating a robust security platform, and optimizing the security performance by reducing vulnerabilities, errors, and costs. Multi-cloud security services allow the implementation and deployment of multi-cloud security solutions. Professional services help optimize security performance and minimize risk exposure. For instance, Fujitsu (Japan) provides for a range of public and private sector customers delivering services in on-premises, hybrid IT, and multi-cloud environments. The service portfolio comprises managed services for cloud-native security controls. It augments cloud-native security controls with cloud-agnostic security controls that help meet customers' broadening multi-cloud and hybrid IT security requirements. Its managed security service portfolio comprises CASB services, cloud-agnostic encryption services, and security services for Microsoft 365.
By cloud model, SaaS segment is to grow at the highest CAGR during the forecast period
Software-as-a-Service is a method for software applications to be delivered over the internet through the Cloud. SaaS is often referred to as cloud software due to its ability to be delivered via the internet. Unlike previous methods of purchasing software and installing it onto a device, SaaS is usually subscription based. This software isn't localized on a specific PC; it is accessed via an internet connection. The benefits of SaaS include that it eradicates initial costs, users can pay as per the requirement, data security, and flexibility. SaaS is usually delivered on a subscription basis, and it eliminates the initial costs associated with implementing software. Another benefit of subscription SaaS is that it can be utilized as long as one requires the software. Cloud-connected software systems help eliminate the vulnerabilities associated with storing files on a local device. SaaS vendors are increasingly focusing on cloud infrastructure security owing to the increasing cyberattacks and threats, thus driving the uptake of multi-cloud security solutions.
Application security is a system of policies, processes, and controls that enable enterprises to protect applications and data in collaborative cloud environments. It is the process of securing cloud-based software applications throughout the development lifecycle. It includes application-level policies, tools, technologies, and rules to maintain visibility into all Cloud-based assets, protect Cloud-based applications from cyberattacks, and limit access to only authorized users. Application security is crucial for organizations operating in a multi-cloud environment hosted by a third-party cloud provider such as Amazon, Microsoft, or Google, as well as for those utilizing collaborative web applications such as Slack, Microsoft Teams, or Box. The need for organizations to maintain application-level policies and protect cloud applications from cyber threats is expected to drive the use of application security across organizations.
By region, North America to account for the largest market size during the forecast period
North America is expected to be the largest contributor in terms of the market size in the global multi-cloud security market. It is one of the most advanced regions in terms of security technology adoption and infrastructure. The region is experiencing increasing digitalization in the recent years. Organizations are increasingly shifting their systems from the on-premises environments to the cloud infrastructure. The increasing digitalization in the region has contributed to a rise in the use of multi-cloud security solutions. The increasing deployment of multi-cloud infrastructure has further led to rise in the use of multi-cloud security solutions by organizations, to increase the security posture of the deployed infrastructure. Several regulatory bodies and laws govern the multi-cloud security market. PCI DSS is one such compliance that requires the cloud deployments to follow the standards set by it. The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment. Multi-cloud security systems are increasingly being deployed to ensure security of the cloud infrastructure deployed. In December 2021, outages occurred in the AWS network. Multiple services became unavailable due to this in the region. Multi-cloud strategy helps in such cases as hosting IT across multiple cloud providers under one ecosystem helps enterprises mitigate cyberattacks and data breaches while also offering greater mobility and flexibility. Moreover, multi cloud security solutions help to maintain the security posture of the deployment in such cases. The key multi-cloud security market vendors functioning in the region include Microsoft, VMware, F5, Entrust, Cloudflare, among others. The presence of major vendors in the multi-cloud security in the region is expected to contribute to the growth of the market.
Key Market Players
The major vendors in the multi-cloud security market include Microsoft (US), VMware (US), Rackspace (UK), Check Point (Israel), F5 (US), Amazon Web Services (US), Fujitsu (Japan), Entrust (US), Google Cloud (US), Cloudflare (US), IBM (US), Cloud4C (Singapore), Proofpoint (US), Lacework (US), BMC Software (US), SonicWall (US), Atos (France), Imperva (US), Micro Focus (UK), Aqua Security (Israel), Aviatrix (US), Saviynt (US), Tufin (US), Distology (UK), Fortanix (US), Illumio (US), Fidelis Cybersecurity (US), Valtix (US), Orca Security (US), Ascend Technologies (US), Ermetic (US), Caveonix (US), and AccuKnox (US).
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Report Metrics |
Details |
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Market size available for years |
2016–2027 |
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Base year considered |
2021 |
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Forecast period |
2022–2027 |
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Forecast units |
Value (USD Million/ Billion) |
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Segments covered |
Offering, Cloud Model, Organization Size, Application, Verticals, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America |
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Major companies covered |
Microsoft (US), VMware (US), Rackspace (UK), Check Point (Israel), F5 (US), Amazon Web Services (US), Fujitsu (Japan), Entrust (US), Google Cloud (US), Cloudflare (US), IBM (US), Cloud4C (Singapore), Proofpoint (US), Lacework (US), BMC Software (US), SonicWall (US), Atos (France), Imperva (US), Micro Focus (UK), Aqua Security (Israel), Aviatrix (US), Saviynt (US), Tufin (US), Distology (UK), Fortanix (US), Illumio (US), Fidelis Cybersecurity (US), Valtix (US), Orca Security (US), Ascend Technologies (US), Ermetic (US), Caveonix (US), and AccuKnox (US). |
Market Segmentation
Recent Developments
- In April 2022, Imperva launched the Imperva Data Security Fabric to modernize and simplify data governance, security, and workflow management for all data across multi-cloud and hybrid environments. Imperva DSF standardizes data security controls across enterprise environments to provide full visibility of what is happening across all file stores and assets, on-premises, and across clouds. Its flexible architecture supports many data repositories, ensuring security policies are applied consistently.
- In February 2022, Check Point acquired Spectral, an Israeli startup and key innovator in developer-first security tools designed for developers. With this acquisition, Check Point will expand its cloud solution, Check Point CloudGuard, and provide the widest range of cloud application security use cases.
- In July 2022, Rackspace extended its partnership with Datadog, a cloud application monitoring and security platform. As Rackspace helps customers modernize multi-cloud adoption, the ability to maintain visibility into application environments is critical. Datadog’s observability solutions provide this visibility through a unified view across private & public clouds.
Frequently Asked Questions (FAQ):
What is the definition of multi-cloud security?
According to MarketsandMarkets, Multi-cloud security is a cloud security solution and service that protects multiple public cloud platforms. The solution protects cyber breaches across multiple cloud infrastructures and caters to applications such as network security, endpoint and IoT device security, and application security”.
What is the projected market value of the global multi-cloud security market?
The global multi-cloud security market is projected to grow from an estimated value of USD 4.4 billion in 2022 to USD 10.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 18.7% from 2022 to 2027.
Who are the key companies influencing market growth?
Microsoft, VMware, Rackspace, Check Point, F5, are the leaders in the multi-cloud security market, recognized as the star players. These companies account for a major share of the multi-cloud security market. They offer wide solutions related to multi-cloud security. These vendors offer customized solutions per user requirements and are adopting growth strategies to consistently achieve the desired growth and make their presence in the market.
Which emerging startups/SMEs are significantly supporting market growth?
Aqua Security, Aviatrix, Saviynt, Tufin, Distology, are some emerging startups that nurture market growth with their technical skills and expertise. These startups focus on developing product/service portfolios and bringing innovations to the market.
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The study involved major activities in estimating the current market size of the multi-cloud security market. Exhaustive secondary research was done to collect information on the multi-cloud security industry. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain using primary research. Different approaches, such as top-down, bottom-up, etc., were employed to estimate the total market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments and sub-segments of the multi-cloud security market.
Secondary Research
In the secondary research process, various secondary sources were referred to for identifying and collecting information related to the study. Secondary sources included annual reports, press releases, and investor presentations of multi-cloud security vendors, forums, certified publications, and whitepapers. The secondary research was used to obtain critical information on the industry's value chain, the total pool of key players, market classification, and segmentation from the market and technology-oriented perspectives. The factors considered for estimating regional level market size include gross domestic product growth, ICT security spending, recent market developments, technology adoption, and market ranking analysis of primary multi-cloud security solution and service providers.
Primary Research
Various primary sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for this report in the primary research process. The primary sources from the supply side included various industry experts, including Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the multi-cloud security market.
Following is the breakup of primary respondents:
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Market Size Estimation
Multiple approaches were adopted to estimate and forecast the size of the multi-cloud security market. In the market engineering process, the top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform the market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and quantitative analyses were performed on the complete market engineering process to list key information/insights throughout the report. This entire procedure included the study of the annual and financial reports of top market players and extensive interviews for key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives. All percentage splits and breakups were determined using secondary sources and verified through primary sources. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data is consolidated and added to detailed inputs and analysis from MarketsandMarkets.
Data Triangulation
After arriving at the overall market size using the market size estimation processes, as explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segments. The data was triangulated by studying various factors and trends from the demand and supply sides.
Report Objectives
- To describe and forecast the global multi-cloud security market on the basis of offering, cloud model, organization size, application, vertical, and region
- To predict the market size of five main regions: North America, Europe, the Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America
- To analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall multi-cloud security market
- To provide detailed information related to significant factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
- To analyze the opportunities in the market for stakeholders and provide the competitive landscape details of major players
- To profile the key players of the multi-cloud security market and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments, such as mergers and acquisitions (M&A), new product developments, partnerships, and collaborations in the market
Customization Options
With the given market data, MarketsandMarkets offers customizations based on company-specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakup of the Asia Pacific market into countries contributing 75% to the regional market size
- Further breakup of the North American market into countries contributing 75% to the regional market size
- Further breakup of the Latin American market into countries contributing 75% to the regional market size
- Further breakup of the Middle Eastern and African market into countries contributing 75% to the regional market size
- Further breakup of the European market into countries contributing 75% to the regional market size
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Data Privacy in Multi-Cloud Market & Its Impact on the Multi-Cloud Security Market
Data privacy in multi-cloud is the practice of protecting sensitive data from unauthorized access or disclosure, and it is a key component of any security strategy in a multi-cloud environment where data is distributed across multiple cloud platforms, making it more challenging to manage and protect.
Data privacy in multi-cloud is expected to have a significant impact on the multi-cloud security market. As organizations increasingly adopt multi-cloud environments to store and process their data, the need for strong data privacy measures and robust security technologies is becoming more important than ever before.
Data privacy regulations such as GDPR, CCPA, and HIPAA require organizations to ensure that the personal data they process is protected from unauthorized access, disclosure, or misuse. In a multi-cloud environment, where data is distributed across multiple clouds, it is important to ensure that the data is secure throughout its lifecycle. This means that organizations will need to invest in security solutions that can protect data across different cloud platforms and ensure compliance with relevant regulations.
The complexity of multi-cloud environments can make it challenging to manage and secure data. Organizations need to ensure that their security solutions can provide visibility and control across multiple cloud platforms, which can be achieved by tools such as security information and event management (SIEM) systems and cloud access security brokers (CASBs). Additionally, organizations need to implement strong authentication and access control mechanisms to ensure that only authorized users can access data.
As the adoption of multi-cloud environments continues to grow, so too does the demand for security solutions that are purpose-built for multi-cloud environments. This is leading to the development of new security technologies and services that can address the unique security challenges of multi-cloud environments. This includes solutions that can provide centralized security management, automated security policy enforcement, and real-time threat detection and response across multiple clouds.
Futuristic Growth Use-Cases of Data Privacy in Multi-Cloud
- Federated Machine Learning: Federated Machine Learning is a distributed machine learning technique that enables organizations to train machine learning models across multiple cloud environments without transferring sensitive data. In a federated machine learning environment, data privacy is critical, as each cloud environment must ensure that sensitive data is protected. Data privacy technologies such as differential privacy, homomorphic encryption, and secure multi-party computation can be used to protect sensitive data in a federated machine learning environment.
- Cross-Cloud Data Analytics: In a multi-cloud environment, data is often distributed across different cloud platforms, making it challenging to perform cross-cloud data analytics. Data privacy technologies such as secure data sharing and access control can enable organizations to securely share data across different clouds, while ensuring that sensitive data is protected.
- Blockchain-based Multi-Cloud Environments: Blockchain technology can be used to create a secure and decentralized multi-cloud environment, where data is stored and processed across multiple cloud platforms. Data privacy technologies such as zero-knowledge proofs and differential privacy can be used to protect sensitive data in a blockchain-based multi-cloud environment.
- Hybrid Cloud Environments: Hybrid cloud environments, which combine public cloud, private cloud, and on-premises infrastructure, are becoming increasingly popular. Data privacy technologies such as data masking and tokenization can be used to protect sensitive data in a hybrid cloud environment, enabling organizations to maintain control over their sensitive data while leveraging the benefits of public cloud services.
Top Players in Data Privacy in Multi-Cloud Market
- Microsoft
- Amazon Web Services (AWS)
- Google Cloud Platform (GCP)
- IBM
- VMware
- Dell Technologies
- Oracle
- McAfee
- Cisco
- Palo Alto Networks
Industries Getting Impacted in the Future by Data Privacy in Multi-Cloud Market
- Healthcare: The healthcare industry collects and stores large amounts of sensitive data, including patient health records and personal information. Data privacy in multi-cloud can enable healthcare organizations to store and process this data securely while ensuring compliance with regulations such as HIPAA.
- Finance: The finance industry is highly regulated and requires strict data privacy and security measures to protect sensitive financial data. Multi-cloud environments can enable financial institutions to store and process data in a secure and compliant manner, while also allowing for greater flexibility and scalability.
- Retail: The retail industry collects large amounts of data on consumer behavior and purchasing patterns. Multi-cloud environments can enable retailers to store and process this data in a secure and compliant manner, while also allowing for advanced analytics and personalization.
- Manufacturing: The manufacturing industry collects and stores large amounts of data on production processes, supply chain management, and product quality. Multi-cloud environments can enable manufacturers to store and process this data in a secure and compliant manner, while also allowing for advanced analytics and real-time monitoring of production processes.
- Government: The government collects and stores sensitive data on citizens, including personal information, health records, and financial data. Multi-cloud environments can enable government agencies to store and process this data in a secure and compliant manner, while also allowing for greater efficiency and collaboration between agencies.
- Education: The education industry collects and stores sensitive data on students, including personal information and academic records. Multi-cloud environments can enable educational institutions to store and process this data in a secure and compliant manner, while also allowing for advanced analytics and personalized learning.
New Business Opportunities in Data Privacy in Multi-Cloud Market
- Cloud Security Consulting: As more organizations move their data to multi-cloud environments, there is a growing need for cloud security consulting services to help organizations ensure their data is protected and compliant with industry and regulatory standards.
- Cloud Access Security Broker (CASB): A CASB is a security control point positioned between cloud service consumers and cloud service providers that provides visibility and control over cloud usage. CASBs can help organizations ensure their data is secure across multiple cloud environments.
- Data Encryption: Data encryption solutions can help organizations protect their data by encrypting it at rest and in transit, ensuring that only authorized users can access the data.
- Identity and Access Management (IAM): IAM solutions can help organizations manage user access to their data in multi-cloud environments, ensuring that only authorized users can access the data.
- Compliance Management: Compliance management solutions can help organizations ensure that their data is compliant with industry and regulatory standards, such as HIPAA and GDPR.
- Threat Detection and Response: Threat detection and response solutions can help organizations detect and respond to threats in real time, ensuring that their data is protected from cyberattacks and other security threats.
- Cloud Storage: Cloud storage providers can offer secure and compliant storage solutions for organizations that want to store their data in multi-cloud environments.
- Cloud Backup and Recovery: Cloud backup and recovery solutions can help organizations ensure that their data is protected and can be recovered in the event of a disaster or data loss.
- Cloud Governance and Compliance: Cloud governance and compliance solutions can help organizations manage their multi-cloud environments, ensuring that their data is compliant with industry and regulatory standards.
Hypothetic Challenges of Data Privacy in Multi-Cloud Business in the Future
- Compliance with Regulatory Standards: Multi-cloud environments can make it challenging for organizations to ensure that their data is compliant with industry and regulatory standards. For example, if an organization operates in multiple countries, it may need to comply with different data protection regulations in each country.
- Security Threats: Multi-cloud environments can increase the risk of security threats such as data breaches and cyberattacks. As data is stored and processed across multiple clouds, it can be difficult for organizations to maintain visibility and control over their data.
- Integration Challenges: Integrating multi-cloud environments can be complex and time-consuming and may require significant investments in technology and resources. For example, integrating different cloud platforms with on-premises infrastructure can be challenging.
- Vendor Lock-In: Multi-cloud environments can lead to vendor lock-in, as organizations may become dependent on specific cloud providers for their data storage and processing needs. This can make it difficult for organizations to switch providers or make changes to their infrastructure.
- Data Sovereignty: Multi-cloud environments can raise concerns about data sovereignty, as organizations may need to ensure that their data is stored and processed within specific geographical boundaries. For example, some countries may require organizations to store and process their data within their borders.
- Data Portability: Multi-cloud environments can make it challenging for organizations to ensure that their data is portable, meaning it can be moved between different cloud platforms. This can make it difficult for organizations to switch providers or make changes to their infrastructure.
- Cost: Multi-cloud environments can be costly, as organizations may need to pay for multiple cloud services and invest in additional infrastructure and resources to manage their data across different clouds.
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Growth opportunities and latent adjacency in Multi-cloud Security Market