Cloud Security Market Research Report, Analysis and Forecast 2024

Methods of providing cloud security include penetration testing, obfuscation, tokenization, firewalls, avoiding public internet connections and virtual private networks (VPN). Major threats to cloud security include data loss, account hijacking, data breaches, service traffic hijacking, poor choice of cloud storage providers, insecure application program interfaces (APIs) and shared technology that can compromise cloud security.

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Increasing trend of VPN technology, cloud computing and increasing number of cases of cyber threats, increasing acceptance of BYOD devices and increasing utilization of blockchain by various business organizations across the globe are the key trends observed in the cloud security market.

Increase in cyber-attacks, increase in the acceptance of BYOD, Internet of things, increasing demand of cloud services and government initiatives are the growth drivers of global cloud security market. Internet of things is the connectivity of physical devices like vehicles, home appliances, smart phones and tablets with each other through a network to exchange data within them.

North America is the largest cloud security market, globally due to the development of various smart city projects in the region and increasing utilization of hybrid cloud that helps in enhancing scalability for business enterprises.

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Key players in the cloud security industry are investing towards improving the quality of access control and developing the latest technologies that are furthermore strengthening their position in the market. However, it has been observed that local players are depending upon new technology to develop cost efficiencies, thus increasing the rivalry in the market to some extent. The prominent players in the global cloud security market include Cisco systems, CA Technologies, Inc., CSC, Trend Micro, Inc., Intel Security, Symantec Corporation, IBM Corporation and Fortinet, Inc.

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