Cloud Security Market By Security Type (Application Security & Database Security), Solution Type (Identity and Access Management (IAM), Data Loss Prevention (DLP)), Service Model (Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS)), Deployment Model (Public Cloud & Private Cloud), Organization Type (Small and Medium Enterprises (SMEs), Large Enterprises), End-User (IT and Telecommunication, Manufacturing), ), & Region for 2024-2031

Cloud Security Market Valuation – 2024-2031

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The cloud security market covers various technologies, including encryption, access control, threat detection, and compliance management. It addresses the increased demand for robust security measures as enterprises use cloud computing and storage solutions. The market size surpass USD 20.94 Billion valued in 2024 to reach a valuation of around USD 112.87 Billion by 2031.

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In the cloud security market increasing popularity of BYOD and CYOD is likely to drive the worldwide cloud security industry. The widespread use or adoption of cloud-based service computing in industries such as healthcare, BFSI, IT, and telecommunications, among others, contributes to the growth of the global market. The rising demand for cost-effective and efficient cloud security is enabling the market to grow at a CAGR of 25.86% from 2024 to 2031.

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Cloud Security Market: Definition/ Overview

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Cloud security is commonly referred to as cloud computing security. Cloud security refers to the methods and technologies used to protect data, applications, and infrastructure in cloud computing environments. Unlike traditional on-premise IT, which manages all hardware and software, cloud providers control the underlying infrastructure. This change in responsibility demands a coordinated security strategy.

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While cloud providers make significant investments in platform security, some of the responsibility remains with the user. A strong cloud security plan includes several components, such as data security, network security, Identity and access management.

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Cloud security is a set of rules or policies designed to secure apps, data, and cloud computing infrastructure. Cloud security protects against data breaches, loss of personal data, and insecure application programming interfaces (APIs). Thus, the expanding demand for a safe environment among cloud clients and suppliers drives the increased use of cloud security applications.

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How can DevSecOps Methods Enhance the Cloud Security Market?

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The increased use of DevSecOps is a major driver of the cloud security market’s rapid growth. DevSecOps effectively combines development, security, and operations, ensuring that security is built into the software development lifecycle. DevSecOps attempts to discover and remediate security risks early on, hence improving the safety of cloud environments.

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DevSecOps takes a proactive approach to security. Organizations that use DevSecOps methods prioritize the discovery and remediation of security issues during the development stage. This proactive approach dramatically minimizes the chance of breaches in cloud systems by addressing security vulnerabilities before deployment.

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Automated security testing and continuous monitoring are key components of DevSecOps techniques. Automation allows for speedy and extensive security testing throughout the development cycle, ensuring that possible vulnerabilities are recognized and addressed effectively. Continuous monitoring enables enterprises to maintain regular surveillance of their cloud environments, detecting and responding to any potential security threats or anomalies.

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Overall, the adoption of DevSecOps principles is critical in promoting the growth of cloud security. DevSecOps enables enterprises to establish and manage safer cloud environments by fostering a security-first mindset and seamlessly incorporating security into the development process, ultimately improving overall cybersecurity posture.

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What is the Most Significant Challenge for Corporations in terms of Cloud Security Market Awareness?

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A significant challenge in the cloud security market is a prevalent shortage of understanding among organizations about the possible security concerns connected with cloud computing. Despite the growing adoption of cloud technology, many businesses fail to understand the entire range of cloud-related risk factors. This lack of information frequently leads to misconceptions, such as believing that security is primarily the responsibility of the cloud service provider, hence ignoring the shared responsibility method.

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Furthermore, some firms may be unaware of specific security threats found in cloud settings, such as data breaches, illegal access, or misconfiguration. Because of this lack of awareness, important security practices such as demanding access restrictions, data encryption, frequent security audits, and incident response plans may not be implemented or emphasized in their cloud strategies.

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Category-Wise Acumens

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Will IaaS Lead the Cloud Security Market?

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Infrastructure as a Service (IaaS) is expected to lead the cloud security market over the projected period, accounting for the majority of market share. This dominance arises from its broad use by enterprises in a variety of industries. IaaS provides enterprises with a flexible and cost-effective method for accessing and managing IT infrastructure over the Internet. However, as more businesses move their activities to the cloud, maintaining the security of their infrastructure becomes more essential.

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IaaS allows businesses to outsource hardware and software resources, eliminating the need to manage complicated infrastructure internally. As a result, there is an increasing demand for powerful cloud security solutions designed specifically to protect IaaS settings from potential cyber threats and data breaches. These solutions include a variety of safety measures, such as encryption, access limits, network security, and continuous monitoring. Organizations can reduce the risks associated with hosting essential assets in the cloud by putting in place thorough security policies.

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With the increasing usage of IaaS by organizations of all kinds, its market size is expanding, fueling overall growth in the cloud security industry. Businesses are increasingly relying on cloud infrastructure to run their operations, making robust security solutions to protect against growing cyber threats even more vital. As a result, investments in cloud security technology and services are projected to remain strong in the future years, showing the growing importance of protecting cloud-based systems.

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Will the Demand for Cloud Security in IT and Telecommunications Sector?

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The use of cloud security in IT and telecommunications is projected to increase in the coming years. 5G networks offer high performance and low latency, enabling infinite connectivity for mobile applications and devices while maintaining high security and privacy. Telcos are reaping significant benefits from cloud-based data analytics. As a result, the IT and telecom sector is expected to dominate market share.

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Cloud adoption is a key method for promoting digital transformation in the retail industry. Digital retail strategies, such as siloed retail, connected retail, analytics-driven retail, and intelligent retail, is increasing the demand for strong security solutions.

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Cloud computing is transforming healthcare by enabling real-time data processing, backup and business continuity, and health information exchange in everyday practice. Real-time processing requires compliance and data protection as a top priority. Healthcare provides attractive market potential for cloud security firms.

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Country/Region-wise Acumens

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How will Cloud Security Market Fare in North America?

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North America’s expected to hold major share in the cloud security market. The region is home to top-tier cloud service companies known for providing a wide range of solutions. Businesses from numerous industries depend on these identified providers for their dependability and comprehensive solutions.

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North America’s robust IT infrastructure creates an ideal environment for enterprises to effortlessly implement cloud solutions. The region’s rich technical landscape makes it easier to integrate cloud services into existing operations, which promotes efficiency and creativity.

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Furthermore, increased awareness of cybersecurity risks among North American firms adds to the rising demand for strong security solutions. With cyber risks on the rise, businesses are prioritizing the deployment of strict security protocols to protect their data and operations. Compliance with these rules needs strong security measures to maintain the confidentiality, integrity, and availability of sensitive information.

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Furthermore, the increased adoption of remote work and digital transformation projects in the coming years of the pandemic increased the adoption of cloud services throughout the region. As businesses transition to remote work practices and embrace digitalization, their reliance on cloud infrastructure for collaboration, communication, and data storage grows.

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Will Asia Pacific Witness Rapid Growth in the Cloud Security Market?

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The Asia Pacific (APAC) area is expected to become the fastest growing market in the cloud security sector, with a compound annual growth rate (CAGR) of 14.8%. This rapid expansion can be attributed to the existence of several businesses engaged in cross-border activity throughout the region. Cloud security solutions provide these organizations with a comprehensive and modular approach to cybersecurity, allowing them to successfully manage the challenges of securing their operations across several geographical locations.

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Managed security services are becoming increasingly popular in APAC as the cybersecurity landscape evolves. Businesses in the region are turning to comprehensive outsourced solutions that include round-the-clock monitoring, incident management, and expert advice to efficiently traverse a rapidly changing security environment. As businesses face the challenges of securing digital assets and managing cyber threats, managed security services provide a significant resource to help them improve their security posture and protect their operations in an increasing connected world.

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Competitive Landscape

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The cloud security market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

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The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the cloud security market include:

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• Intel Security

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• Trend Micro, Inc.

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• Symantec Corporation

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• International Business Machines Corporation

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• Cisco Systems, Inc.

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• Ca Technologies

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• Check Point Software Technologies Ltd.

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• Computer Science Corporation (Csc)

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• Fortinet, Inc.

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• Sophos

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• Plc

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• Okta, Inc.

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• Microsoft Corporation

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• IBM Corporation

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• CloudPassage Company

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• Amazon Web Services, Inc.

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• Check Point Software Technologies Ltd.

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• Palo Alto Networks

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• Aqua Security Software Ltd.

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Latest Developments

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• In May 2023, AWS launched Amazon Security Lake, a cloud security solution that automatically consolidates an organization’s security data from different sources into a dedicated data lake. It enables businesses to improve their security posture, respond faster to security events, and manage security data more efficiently across hybrid and multi-cloud environments. Amazon Security Lake allows enterprises to collect, normalize, and store security data, resulting in faster threat detection, investigation, and action. Customers gain access to potential security issues and can use their choice analytics tools for detailed information.

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• In May 2023, Check Point (US & Israel) expanded Harmony Endpoint protection solutions to incorporate vulnerability assessment and automated patch management features. It helps enterprises address the increasing number of cyberattacks that exploit unpatched system vulnerabilities.

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• In April 2023, IBM (US) announced a new platform, IBM Security QRadar Suite, a comprehensive cloud security product that integrates EDR/XDR, SIEM, SOAR, and cloud-native log management capabilities. It aims to unify and streamline the security analyst experience in hybrid cloud systems. The suite’s powerful algorithms and automation enable analysts to detect, investigate, and respond to threats faster and more quickly. This AWS service simplifies deployment, visibility, and integration across several cloud environments and data sources.

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• In September 2022, Google (US) bought Mandiant (US). Integrating Mandiant’s capabilities will strengthen Google Cloud’s security operations suite, giving enterprises better threat intelligence, incident management, and exposure management. The integration of Mandiant will allow enterprises to monitor assets for potential vulnerabilities, validate security rules, and improve their security posture. The acquisition strengthens Google Cloud’s commitment to providing comprehensive security solutions to its clients.

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Report Scope

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Cloud Security Market, By Category

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Security Type:

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• Application Security

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• Database Security

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• Endpoint Security

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• Network Security

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• Web and Email Security

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Solution Type:

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• Identity and Access Management (IAM)

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• Data Loss Prevention (DLP)

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• Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)

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• Security Information and Event Management (SIEM)

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• Encryption

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Service Model:

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• Infrastructure-as-a-Service (IaaS)

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• Platform-as-a-Service (PaaS)

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• Software-as-a-Service (SaaS)

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Deployment Model:

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• Public Cloud

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• Private Cloud

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• Hybrid Cloud

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Organization Type:

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• Small and Medium Enterprises (SMEs)

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• Large Enterprises

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End-User:

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• Banking, Financial Services, and Insurance (BFSI)

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• Aerospace and Defense

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• Automotive

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• Energy and Utilities

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• Government and Public Utilities

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• Healthcare and Life Sciences

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• IT and Telecommunication

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• Manufacturing

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• Retail

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Region:

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• North America

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• Europe

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• Asia-Pacific

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• South America

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• Middle East & Africa

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Research Methodology of Market Research:

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Reasons to Purchase this Report

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
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• Provision of market value (USD Billion) data for each segment and sub-segment
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• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
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