ID: MRFR/ICT/6644-HCR | 111 Pages | Author: Shubham Munde | June 2023
The Cloud Workload Protection Market Size is expected to reach USD 26.4 billion growing at a CAGR of 21.90% by 2030.
The cloud workload protection market is projected to register a CAGR of 21.90% from 2020 to 2030. The cloud workload protection market size is expected to reach approximately USD 26.4 billion by 2030. The key factors driving the worldwide market are the increasing use of the multi-cloud approach, the higher need for secured data and programmed features, and the control of unauthorized and misidentified workloads. However, the need for knowledge regarding cloud workload protection among small businesses is impeding the market's expansion. There is a high need for security platforms due to the emergence of big data in many sectors, which is anticipated to drive market growth. Businesses may protect critical cloud workloads with cloud workload protection (CWP). It automates workload security by offering detection, visibility, and protection against sophisticated attacks. Strong cloud workload protection is offered by CWP, including real-time anti-malware scanning using cutting-edge technologies and exceptional application isolation.
The pandemic is affecting the dynamics of several international enterprises. The Covid 19 outbreak is also impacting the market for cloud workload protection. Additionally, during this time, technology adoption is getting more challenging. Production suffers during this period. Governmental limitations and lockdowns are also having an impact on market activity. The popularity of cloud workload protection has, nevertheless, risen recently. More employee systems with cloud workload protection are installed due to working from home. Businesses face advanced risks and cyber challenges. There may be fewer security applications on personal computers.
Additionally, most businesses are implementing cloud security in a centralized system. The central systems' linked systems benefit from cloud workload protection. The market will benefit from each of these reasons. After COVID-19, this market is anticipated to increase significantly.
The market need for cloud workload protection is increasing due to worries about ransomware attacks, cloud security threats, risks associated with remote work, and cybersecurity issues linked to social engineering. Additionally, the financial sector's urgent need for digital transformation pushes the sector away from a cloud-first paradigm and toward one that is cloud-averse, fueling demand for cloud security solutions. As a result, enterprises are increasingly using multi-cloud solutions, which enable them to divide cloud workloads and containers across several cloud environments. The market need for cloud workload protection is soaring due to the use of multi-cloud infrastructure solutions.
The need to combine the capabilities of cloud workload protection platforms with those of cloud security posture management systems, which concentrate on evaluating cloud security and compliance, is expanding as corporate security needs increase. The need for cloud workload protection has grown due to adopting a multi-cloud approach. Multi-cloud systems increase efficiency and cut costs, but they can complicate administration. As a result, market expansion has quickened.
To operate cloud-based apps, some technical knowledge is required. There needs to be more knowledge in many areas to manage cloud initiatives. One of the biggest problems in this business is the need for more technical knowledge. Most businesses only use the cloud when a qualified individual is available to manage it. These difficulties lower the pace of cloud workload protection adoption. Cloud workload jobs can occasionally be challenging. A lack of expertise might result in numerous mistakes and security risks. With adequate technical support within the company, it is easier to handle security risks effectively. It is a significant market problem that can impede demand during the projection period.
The burden of expanding businesses is enormous. Outstanding management will be present in the major firm. The business's activities and operations are carried out in an organized way. The major corporation also has unique security systems. However, growing small- and medium-sized businesses demand intensive workload management and protection. The market will have profitable development prospects due to implementing cloud workload protection in SMEs. The market profit for cloud workload protection will rise as adoption rates in SMEs rise.
Based on component, the cloud workload protection market segmentation is a solution (vulnerability assessment, monitoring and logging, policy and compliance management, threat detection, and incident response). Threat detection and incident response integration accounted for the largest share of the cloud workload protection market growth in 2021. Advanced threats can be protected by cloud workload protection. Identifying and resolving security concerns is a breeze with cloud workload protection. As a result, prominent corporations increasingly rely on cloud security measures, further contributing to the market's growth.
Based on service, the cloud workload protection market segmentation is support and maintenance; training, consulting and integration; managed services. In 2021, consulting and integration accounted for the largest market share of the market due to the increased adoption by various end-use industries.
The market, based on deployment, is public cloud, private cloud, and hybrid cloud. The hybrid cloud segment is anticipated to account for a dominant share of the cloud workload protection platform (CWPP) market in 2021. The rising movement of organizations to the hybrid cloud model is responsible for expanding the segment. Hybrid cloud offers numerous benefits such as flexibility, scalability, reliability, and security, which results in market growth.
Based on organization size, the market is segmented into large enterprises and small & medium-sized enterprises. The growing adoption of cloud-based solutions among Large Enterprises is anticipated to drive overall market growth in the coming years.
Based on vertical, the market is segmented into retail & e-commerce, IT & telecommunication, BFSI, and healthcare. The retail and e-commerce segment is anticipated to account for the largest market share over the forecast period. The growth is attributed to technological advancements in customer analytics in retail and e-commerce businesses. The BFSI segment will likely grow at the highest CAGR over the forecast period as CWP platforms provide enhanced data security.
Global Cloud Workload Protection Market Share , by Region, 2021 (%)
By region, the cloud workload protection market has been divided into North America, Asia-Pacific, Europe, and the Rest of the World. North America accounted for the most extensive market share. Europe will exhibit the highest CAGR during the forecast period.
Due to enterprises employing cloud workload protection solutions due to security concerns and the increasing adoption of a multi-cloud approach in the area, North America held the lion's share of the worldwide market for cloud workload protection. The US controls the majority of the market in North America due to its technical superiority and extensive usage of cloud computing.
Asia-Pacific is anticipated to see the quickest market growth over the research period due to the increased need to avoid cyberattacks. Organizations are concentrating on reducing enterprise expenses while maintaining enterprise performance in addition to this. In addition to managing and delivering multi-cloud services, these cloud workload protection solutions and services increase agility and performance.
The competitive landscape for cloud workload protection provides details on each competitor. The company's financials, revenue generated, market potential, investment in R&D, new market initiatives, presence, production sites and facilities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details included. The information above solely relates to the firms' market emphasis on cloud workload protection.
Prominent players in the cloud workload protection market research include Micro Incorporated (Japan), Symantec Corporation (US), McAfee Inc. (US), Sophos Ltd (UK), CLOUDPASSAGE (US), Guardicore (Israel), DOME9 SECURITY INC. (Israel) LogRhythm Inc. (US), Nutanix (US), HYTRUST INC. (US), Tripwire (US), Google (US), Kaspersky (Russia), Qualys Inc. (US) and Akamai Technologies (US) Company among others.
Organization Size Outlook
Deployment Model Outlook
The objectives of the study are summarized in 5 stages. They are as mentioned below:
To identify and estimate the market size for the cloud workload protection market report segmented by component, service, organization size, deployment model, and vertical size by value (in US dollars). Also, to understand the consumption/ demand created by consumers in the cloud workload protection market forecast between 2022 and 2030
Market Landscape and Trends:
To identify and infer the drivers, restraints, opportunities, and challenges in the cloud workload protection market growth
Market Influencing Factors:
To find out the factors which are affecting the cloud workload protection market size among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the company's financial health in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||USD 26.4 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, service, organization size, deployment model, and vertical size|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||Micro Incorporated (Japan), Symantec Corporation (US), McAfee Inc. (US), Sophos Ltd (UK), CLOUDPASSAGE (US), Guardicore (Israel), and DOME9 SECURITY INC. (Israel).|
|Key Market Opportunities||The workload is massive in growing enterprises.|
|Key Market Drivers||High Demand for Programmed Functionalities and Protected Data|
The cloud workload protection market forecast period is 2022-2030
According to the cloud workload protection market research, the market is expected to register a CAGR of 21.90% over the next 10 years.
Asia-pacific is expected to register the highest CAGR during 2020-2030
North America held the largest share in 2021
The market size is expected to be USD 26.4 billion by 2030.
Micro Incorporated (Japan), Symantec Corporation (US), McAfee Inc. (US), Sophos Ltd (UK), CLOUDPASSAGE (US), Guardicore (Israel), DOME9 SECURITY INC. (Israel) and LogRhythm Inc. (US) are prominent market players.
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