2017-2023 Global Cloud Application Security Market | Analysis, Modeling, Risk Factors, Growth Strategies, Drivers, Dynamics, Forecast and more
Cloud Application Security market size is anticipated to grow toUSD 13.67 billion by 2022 at a CAGR of15.1%. Factors like straightforward integration of cloud application security solutions with existing security infrastructure, and rise in security breaches of business-critical cloud applications has result in the increase of the market. the expansion but is hampered by factors like lack of technical experience within the hands, lack in awareness regarding advanced and ever growing cyber threats, etc.
Easy integration of cloud application security solutions with organizations’ existing security infrastructure is expected to drive the cloud application security market
Cloud ApplicationSecurity market size is expected to grow fromUSD 6.78 billion in 2017 toUSD 13.67 billion by 2022, at a Compound Annual Growth Rate(CAGR) of 15.1%. The cloud application security market is driven by factors, such as strong regulations and compliance requirements, easy integration of cloud application security solutions with organizations’ existing security infrastructure, and rise in security breaches targeting business-critical cloud applications. However, non-acceptance of CASB as a security solution by enterprises is acting as restraining factor in this market. Furthermore, lack of technical expertise among the enterprise workforce for the development of advanced cloud application security solutions and lack of awareness about advanced cyber threats and growing security concerns are the biggest challenges for organizations.
Analytics and reporting solution is expected to grow at the highest CAGR during the forecast period
The analytics and reporting solution is expected to have the highest CAGR during the forecast period. The analytics and reporting solution, within the cloud application security suite, comprises log management, and cloud usage analytics and anomaly detection. The solution automates the collection and normalization of data across multiple cloud applications and recognizes opportunities for cost reductions across various cloud application platforms. With the increase in adoption of cloud application, the demand for analytics and reporting solution is said to be gaining pace in the cloud application security market.
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Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period
The large enterprises segment is estimated to have largest market share and dominate the cloud application security market. The SMEs segment is expected to grow at a higher CAGR during the forecast period. Due to the increased adoption of cloud-based applications, SMEs are deploying cloud application security solutions to secure their business operations. The cloud application solutions help enterprises to protect the cloud platforms and secure cloud-based applications from unauthorized access, vulnerabilities, and attacks.
APAC is expected to have the highest growth rate during the forecast period
Asia Pacific (APAC) includes emerging economies, such as India and China, which are rapidly deploying cloud application security solutions and services. This is mainly due to an increase in sophistication of cyber-attacks in organizations. APAC is expected to grow at the highest CAGR during the forecast period. Furthermore, North America is estimated to have the largest market size in 2017.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the cloud application security marketplace.
- By Company Type: Tier 44%, Tier 37%, and Tier 19%
- By Designation: C-Level: 65%, Manager Level: 35%
- By Region: North America: 33%, Europe: 44%, APAC: 18%, and RoW: 5%
The report includes the study of key players offering cloud application security solutions and services, such as, Cisco Systems (US), Fortinet (US), Microsoft (US), Oracle (US), Palo Alto Networks (US), Proofpoint (US), Symantec (US), Bitglass (US), CensorNet (UK), CipherCloud (US), Netskope (US), and Skyhigh Networks (US). The report includes in-depth competitive analysis of these key players in the cloud application security market, with their company profiles, recent developments, and key market strategies.
The report covers the cloud application security solutions and services across different segments. It aims at estimating the market size and the future growth potential of this market, across different segments, such as component (solutions and services), organization size, industry vertical, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
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