Symantec (US) and Trend Micro (Japan) are the Major Players in the Cloud Workload Protection Market
The cloud workload protection market size is expected to grow from USD 2.25 Billion in 2018 to USD 6.70 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 24.4% during the forecast period. This growth is attributed to the increased adoption of multi-cloud strategy, fortifying the enterprise network against unauthorized and unprecedented strikes, centralized policy management, and simplified installation for distributed enterprise networks.
The major players in the cloud workload protection market include Bracket (US), CloudPassage (US), Dome9 (US), Evident (US), GuardiCore (Israel), HyTrust (US), LogRhythm (US), McAfee (US), Sophos (UK), Symantec (US), Trend Micro (Japan), and Tripwire (US). These players have adopted various growth strategies, such as new product launches, partnerships, acquisitions, and expansions. Product launches and partnerships were the 2 major strategies adopted by these players to achieve a strong foothold in the Cloud workload protection market.
Symantec is one of the prominent players in the cloud workload protection market. The company is dedicated to improving its portfolio in cyber protection. Symantec has been always focused on the adoption of a mix of inorganic and organic growth strategies to gain a competitive edge in the market. Recently, in February 2017, the company enhanced the Symantec Cloud Security Platform for providing better protection, increasing visibility, and enhancing the control of critical assets, users, and data. In March 2016, the company launched a website security package, Encryption Everywhere, for helping web hosting providers encrypt websites. Moreover, in October 2015, the company offered a new advanced threat protection solution to uncover, prioritize, and remediate advanced threats. The company expanded its business in North America, Europe, and some parts of Asia Pacific (APAC) by extending its incident response service offerings in these regions. Inorganic growth strategies have helped the company provide robust security solutions in the market. In July 2017, Symantec acquired Skycure and Fireglass to enhance its capabilities in the cloud workload protection market.
Trend Micro is one of the eminent vendors in the cloud workload protection market. The company has adopted effective business strategies and generated its revenue by catering its products and services to enterprises and consumers. It has a worldwide reach, with regional and sales offices in North America, Europe, APAC, Middle East and Africa (MEA), and Latin America. It receives more than 50% of its revenue by selling its products to enterprises and consumers in Japan. The company has tie-ups with resellers, distributors, system integrators, and service providers who help the company cater its products and services to a wide range of customers. Trend Micro also conducts partner programs, reseller programs, and strategic alliance programs. The company has focused on both organic and inorganic stratergies to boost its presence in the cloud workload protection market. For instance in Febuary 2017, Trend Micro launched the Deep Security 10 solution, powered by XGen Security, to safeguard physical, virtual, and cloud servers from advanced cyber threats in VMware, AWS, and Microsoft Azure environments.
Related Reports:
Cloud Workload Protection Market by Solution (Monitoring and Logging, Policy and Compliance Management, Threat Detection Incident Response), Service, Deployment Model, Organizational Size, Vertical, and Region - Global Forecast to 2023
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