Market Leader - Cloud Application Security Market
The overall cloud application security market size is estimated to be USD 6.78 Billion in 2017 and is expected to reach USD 13.67 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 15.1%. The major factors driving the growth of the cloud application security market includes strong regulations and compliance requirements, rise in security breaches targeting business-critical cloud applications, and easy integration of cloud application security solutions with organizations’ existing security infrastructure.
Some of the key players in the cloud application security market include Cisco Systems (US), Fortinet (US), Microsoft (US), Oracle (US), Palo Alto Networks (US), Proofpoint (US), Symantec (US), Bitglass (US), CensorNet (UK), CipherCloud (US), Netskope (US), and Skyhigh Networks (US). Partnerships and acquisitions are the key strategies majorly adopted by the market players to offer feature-rich products and services to their customers and penetrate deeper into the uncatered regions.
Bitglass, one of the leading cloud application security solution providers, was founded in 2013 and is headquartered in California, US. The company’s Cloud Access Security Broker (CASB) and mobile security solutions enable complete data protection and secured usage of cloud applications. For its innovative offerings and a team of industry veterans, Bitglass is backed by Tier 1 investors. In January 2016, the company raised USD 45 million in series C funding led by new investor Future Fund, existing investors NEA, Norwest, Singtel Innov8, and others. The company aims to spend the investment on further expansion of its business in the United States (US), Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC) regions. It strongly focuses on delivering high-quality solutions and services to its customers. In regard to this, Bitglass is conducting extensive Research and Development (R&D) on its offerings and also forming technological alliances. For instance, in September 2017, Bitglass partnered with Boldon James, to integrate latter’s Classifier solution into Bitglass’ CASB solution and enhance its data protection capabilities. In February 2017, Bitglass entered into a partnership with Trustwave where the former provides its security and analytics expertise to the latter’s managed protection service for the detection of cloud-based threats. In the same month, Bitglass formed a technological alliance with Cylance and integrated Cylance’s advanced threat protection technology into the Bitglass CASB solution.
Another key vendor of cloud application security solutions, CensorNet, founded in 2007 and headquartered in Basingstoke, UK, offers a unified and multi-layered approach to secure web, cloud applications, and email. Its core capability to deliver a single pane of glass view across web, cloud applications, and email enable organizations to meet their security, audit, compliance, and high productivity requirements. CensorNet is currently serving more than 4,000 customers and more than 1.3 million users across the globe. To innovate on its offerings, increase its customer base, and enter into new regions, the company runs three types of partner programs: channel partner program, and Managed Service Provider (MSP) program. The company has also formed technology alliances with many renowned and leading cybersecurity solution vendors, such as Bitdefender, Zvelo, WatchGuard Technologies, Barracuda Networks, Cisco, Citrix, F5, Microsoft, Splunk, NCP, VMware, and Globalscape. These alliances allow CensorNet to further innovate on its product offerings and serve new customer bases. The company is further aiming to expand its business in high growth areas, such as MEA and APAC. In line with this, it entered into a partnership agreement with Credence Security in April 2017, which enables CensorNet to win new customers in these two major regions.
Related Reports:
Cloud Application Security Market by Component (Solutions (Cloud Application Discovery, Data Protection, Threat Protection, and Analytics & Reporting), and Services), Organization Size, Industry Vertical, and Region - Global Forecast to 2022
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