Cloud Application Security Market Research Report - Global Forecast to 2023

Global Cloud Application Security Market, by component (Solutions, Services), Organization Size (SMBs, Large enterprise), by Vertical (BFSI, Government & Defense, IT & Telecom, Healthcare, Retail) - Forecast to 2023

ID: MRFR/ICT/3495-HCR | February 2021 | Region: Global | 100 pages

Market Overview


The cloud application security market takes care of the organizations and the valuable assets in data from any cybercrime. Therefore, these are known to be the most secure means for companies. Moreover, with the increasing trend of work from home, security has become more challenging for companies.


The market is expected to witness a CAGR of 14% during the next Cloud Application Security Market Forecast period. Therefore, the Market Revenue is also likely to be pretty high. Nowadays, the system is used in various verticals like Banking, Insurance, Financial Services, I.T., Government and defense, healthcare, manufacturing, retail, and others.


COVID-19 Analysis


The governments and the regulatory bodies have made it a mandate for the organizations to develop new practices because of the remote work being carried out in most organizations. As a result, the way businesses work has changed to a great extent. Furthermore, with increased BYOD devices, internet penetrations, and the WFH trend, companies seem to be moving towards cloud solutions with increased safety and protection from cyber-attacks.


Cloud security makes sure that the companies stay safe from any such threats. In the view of security, many companies worldwide have invested significant amounts in developing cloud-based analytics to study the spread of the pandemic on the Cloud Application Security Market Size.


Market Dynamics


Growth


The cloud application market is expected to grow at a CAGR of 14% during the upcoming Market Forecast period. As a result, the market is expected to witness a market valuation of USD 12 billion by the end of 2023.


Drivers


Following is the major drivers that have been bringing growth in the Cloud Application Security Market Demand:



  • Increased government support to promote innovative infrastructure projects worldwide has played a vital role in the growth of Market Opportunities.

  • With the increase in digitalization, cybercrimes, cyber attacks, and cyber espionage campaigns have increased many folds.


Restraints


Though a myth, companies tend to believe that the cloud computing models are tough to deal with and come with high maintenance. This has been the major restraint in the Cloud Application Security Market Growth.


Regulatory implications


The Cloud Application Security Industry has seen a tremendous increase in its revenue since the time the rules and regulations by the governments of almost every region around the world have become stringent. Strict laws have been passed after the increased incidents of cybercrime and cyber threats. The regulatory bodies need to ensure that safety is the primary focus; hence cloud computing models are being supported to a great extent.



Global Cloud Application Security Market: Cloud Application Security Market


Segmentation Overview


The cloud application security market is segmented into the following:



  • Based on the component

  • Based on the organization size

  • Based on the vertical


Based on the component


Based on the component, the Cloud Application Security Market is further subdivided into the following:



  • Solutions

  • Services


The solutions segment can further be categorized into cloud application discovery, data protection, threat protection, analytics, and reporting.


The data protection subsection is even further subdivided into data loss prevention, encryption. Identity and access management.


The cloud application discovery segment can further be categorized into the Cloud application database and risk assessment.


The analytics and reporting section is further divided into log management and cloud usage analytics, and anomaly detection.


The threat protection segment is further subdivided into malware detection and prevention & security information, and event management.


The Services component is further divided into consulting services, training and education, and others.


Based on the organization size


Based on the organization size, the Cloud Application Security Market Trends can be segmented into the following subcategories:



  • Large enterprises

  • Medium-sized enterprises


Based on the industry vertical


Based on the industry vertical, the Cloud Application Security Industry can further be segmented into the following:



  • Government and defense

  • BFSI

  • Healthcare

  • I.T. and telecom

  • Retail

  • Others


Regional analysis      


The cloud application market is divided into the following based on regions.



  • North America

  • Asia pacific

  • Europe

  • Rest of the world.


North America leads the market with the most significant Cloud Application Security Market Share. The region's dominance is attributed to the increased demand due to the increase in the cloud security infrastructure and subsequently bringing the growth to the market in the area. Europe expects to witness fast growth in the Market Size in the upcoming forecast period. Asia Pacific is still an emerging market that is likely to grow at a reasonably high CAGR in the forthcoming years.


Competitive landscape


Some of the major players in the cloud application security market are as follows:


Microsoft Corporation (U.S), Censor Net Ltd. (U.K), Juniper Networks, Inc. (the U.S), Cisco Systems Inc. (U.S), McAfee, Inc. (the U.S), security Fortinet, Inc. (the U.S), Zscaler (U.S), Symantec Corporation (U.S), Trend Micro Inc. (Japan), Bitglass Inc. (U.S.), IBM Corporation (U.S), Oracle Corporation (U.S), Skyhigh Networks (U.S), Palo Alto Networks, Inc. (the U.S), Cipher Cloud (U.S), Proof point Inc. (U.S) and Netskope Inc. (U.S).


All of these major players have been working out to bring the much-desired growth for the respective organizations and the whole Cloud Application Security Market Growth. Also, they have been acting as the idols for all the newcomers in the market and have been guiding in the best possible way to bring growth in the Market. Moreover, they are implementing the strategies in an orderly manner. Also, various acquisitions, mergers, and collaborations amongst themselves have been able to bring growth to a great extent.


Recent Developments



  • Microsoft launched Microsoft Cloud for healthcare in May 2020. This was established to navigate the COVID-19 with the help of the Azure cloud platform, Dynamic, Microsoft 365, and the robust platform to manage the staff and promote the data insights.

  • Cisco and Google partnered with each other in October 2020. The partnership was done to integrate its WAN with the global cloud network of Google to offer WAN application integration in combination with the workloads of the cloud.

  • McAfee launched McAfee MVISION Insights in October 2019 to help companies provide quick responses to cyberattacks. This is done by giving actionable insights and pinpointing threats. This also enables the companies to track the attack.

  • Trend Micro acquired cloud Conformity in October 2019 to bring improvements in its cloud services. Cloud security posture management makes sure that compliance is followed according to the I industry standards.

  • Pal Alti Networks acquired PureSec to improve the Prisma offerings. PureSec is one of the major players in the serverless security domain and supports the vendors, including Amazon web services, Azure functions, etc.


Report Overview


The reports that the industry experts and the researchers have prepared result from their expertise and thorough study. The exclusive reports have an overview of the market and the Cloud Application Security Market Analysis according to the pre and post covid data of the market value, trends, and size. In addition, the market dynamic has also been made a part of the report, which contains points like Growth, Drivers, and Restraints that tend to hamper the Market Demand.


The regulatory implications have also been discussed in detail and the segmentation overview of the Market Trends. The segmentation of the market based on the regions has also been included in the report. The major players in the market have also been listed in the news and the steps and policies they have implemented to bring growth in the market. Also, the recent advancement in the Cloud Application Security Market Opportunities has been discussed in detail to ensure that the companies stay up to date.



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Frequently Asked Questions (FAQ) :


Companies such Microsoft Corporation (U.S), Cisco Systems Inc. (U.S), Fortinet, Inc. (U.S), Symantec Corporation (U.S), Bitglass Inc. (US), Oracle Corporation (U.S) are the key companies assisting the market with substantial revenues.

The artificial intelligence is critical factor driving the cloud application security market growth substantially.

Organization size, component and vertical are the segments involved in the market.

North America (the U.S., Mexico, Canada), Europe (the U.K, Germany), Asia Pacific (China, Japan, India), and Rest of the World are the regions investing the best in the market.

The market will be growing with USD ~12 billion by 2023.