Cloud Workload Protection Market Trends, Market Share, Industry Size, Growth, Opportunities and Forecast to 2023
Cloud workload protection is a growing concern as the incidences of web-based threat are observed to surge. Market Research Future (MRFR) identifies this factor to be a major cause for the global cloud workload protection market to strike a CAGR of 22.4% over the forecast period (2018-2025) and scale to a valuation of USD 6.89 billion by 2025.
McAfee, a computer security software developer, acquired NanoSec, a multi-cloud security platform. This will provide organizations with efficient governance and curb down their risk associated with their on-cloud and container deployment.
Cloud workload protection solutions can monitor and secure application on private, public, and hybrid cloud environments. The flexibility offered by such solution is expected to promote the global cloud workload protection market growth. The surging need for safeguarding public cloud workloads to curb down risks while escalating cost savings is likely to boost the global cloud workload protection market growth. Additionally, the growing awareness about the need to adopt solutions to secure cloud workload is anticipated to intensify the growth of the market in the upcoming years. The impressive growth of the global cloud workload protection market can be attributed to the high adoption rate of such protection solutions by prominent end-users like BFSI. On the flip side, the limitation of technical expertise to handle complex cloud workload can interfere with the global cloud workload protection market growth.
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The global cloud workload protection market has been segmented on the basis of component, organization size, deployment model, and vertical.
Based on the component, the global cloud workload protection market has been segmented into solutions and services. The solutions segment has been further classified into vulnerability assessment, policy and compliance management, monitoring and logging, threat detection and incident response, and others. The services segment has been narrowed down to support and maintenance, managed services, training, consulting, and integration and others. Monitoring and logging solutions offer efficient control over high-volume cloud workload and centralized visibility, which is surging their rate of adoption. Hence, the monitoring and logging segment is expected to register a healthy growth over the forecast period.
Based on the organization size, the global cloud workload protection market has been segmented into small- and medium-sized enterprises (SMEs) and large enterprises. The large enterprises segment is expected to register a healthy growth throughput the review period. The SMEs segment is also likely to scale to a substantial valuation by the end of the forecast period.
Based on the deployment model, the global cloud workload protection market has been segmented into private cloud, public cloud, and hybrid cloud. The hybrid cloud segment is likely to garner a lucrative CAGR across the evaluation period.
Based on the vertical, the global cloud workload protection market has been segmented into retail and consumer goods, IT and telecommunication, media and entertainment, government and public sector, BFSI, healthcare and life sciences, energy and utilities, manufacturing, and others. The BFSI and IT and telecom segments are anticipated to exhibit higher CAGR throughout the review period over other segments.
Regionally, the global cloud workload protection market has been analyzed across North America, South America, Europe, Asia-Pacific, and Middle East and Africa.
North America to stand at the forefront of the global cloud workload protection market. The increasing adoption of multi-cloud strategy, which, in turn, is prompting the need for deploying cloud workload protection solutions is expected to surge the North American market. The United States to hold the largest share of the North American cloud workload protection market. In the Asia Pacific region, the cloud workload protection market is expected to grow at a rapid pace over the review period. The APAC cloud workload protection market is expected to register an impressive CAGR in the near future as cloud workload protection solutions boost performance.
MRFR identified some of the major cloud workload protection vendors. They are; DOME9 SECURITY INC. (Israel), Qualys, Inc. (US), HYTRUST, INC. (US), CLOUDPASSAGE (US), LogRhythm, Inc. (US), Tripwire (US), McAfee, Inc. (US), Nutanix (US), Symantec Corporation (US), Akamai Technologies (US), Trend Micro Incorporated (Japan), Sophos Ltd. (UK), Guardicore (Israel), Kaspersky (Russia) and Google (US)
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