Cloud Security Market to Witness Impressive Growth by 2024

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Global Cloud Security Market: Overview

Cloud security is the also known as cloud computing security. The cloud security comprises a set of controls or policies in order to protect the applications, data, and cloud computing infrastructure. The cloud security secures data breaching, loss of confidential data, and insecure application programming interfaces (API). Thus, the rising demand for a secure environment for the cloud customers and providers influences the enhanced utilization of the cloud security applications.

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Global Cloud Security Market: Growth Factors

The growing trends of BYOD and CYOD are expected to boost the global cloud security market. The significant utilization or adoption of the cloud-based service computing in the various sectors such as healthcare, BFSI, IT and telecommunication, and others help fuel the growth of the global market. Additionally, the rising threats related to the cyber world increase the dependency on the cloud-based services which in turn attributes the growth of the global market. The demand for security for the applications such as the online payments, financial transactions, social media, data storage, and others thrive the global market growth. The increasing demand for cloud security in the Windows, Android, iOS platform devices boosts the global cloud security market. The low awareness regarding cloud-based services among the masses hinders the growth of the global market.

Global Cloud Security Market: Segmentation

The global security market segment is bifurcated based on the end user, type, vertical, deployment, and region. The end user segment is divided into large-scale enterprises and small and medium enterprises. The type segment is classified as network security, cloud database security, email and web security, cloud identity and access management, data loss prevention, and cloud encryption. The vertical segment is categorized into retail, healthcare, BFSI, IT and telecom, government agencies, and others. The deployment segment is grouped into public, private, and hybrid. The regional segmentation includes Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa.

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Global Cloud Security Market: Regional Analysis

North America is expected to dominate the global cloud security market owing to increasing cloud-based services and cloud computing industries in the region. The rising demand for the cyber security due to the increasing use of computing devices among the growing population in the Asia Pacific region helps propel the global market.

Global Cloud Security Market: Competitive Players

The key players dominating the global cloud security market are Fortinet Inc., CA Technologies Inc., Panda Security, Sophos Ltd., Symantec Corporation, Trend Micro Inc., IBM Corporation, Cisco Systems Inc., and McAfee Inc. The other key players in the global market include Intel Corporation, Hewlett-Packard (HP) Company, Microsoft Corporation, Kaspersky Labs, Dell Inc., and Intel Security Group. These major players implement a number of strategies such as the signing of agreements, contracts, bonds, partnerships, collaborations, mergers and acquisitions, joint ventures, and new application launch for acquiring a standard position in the global market.

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