Market Research Future (MRFR), in its latest study on the global cloud application security market size 2020, explained different factors that are expected to impact the market. According to MRFR study, the cloud application security market is expected to rise at about 14% CAGR through the evaluation period 2017-2023. The increase in the demand for cloud application security can cause the application security market value to touch nearly USD 12 Bn by 2023. The existence of major companies operating in the worldwide cloud application security can support the expansion of the market in the review period. The introduction of innovative cloud application security solutions can impel the expansion of the cloud application security global market in the years ahead.
The growing application of next-generation cloud applications to boost cloud services across the globe can support the expansion of the market in the years ahead. The growing focus of companies to empower business with better solutions for customer experience, human resource, finance, and supply chain solutions can impel the expansion of the cloud application security market in the assessment period.
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The segment evaluation of the global cloud application security market is done by vertical, component, and organization size.
The component based segment of the cloud application security global market are service and solutions. The solution sub-segments are cloud application discovery, data protection, threat protection, and analytics and reporting. The data protection based sub-segments are data loss prevention, encryption, and identity and access management. The cloud application discovery segments are cloud application database and risk assessment. The analytics and reporting segments are anomaly detection, cloud usage analytic, and log management. The threat protection segments are event management, security information, and malware detection and prevention. The services segments includes training and education service, consulting service, support services, and other. The organization size based segments of the cloud application security market are medium-sized enterprises, small enterprises, and large enterprise. The vertical based segments of the cloud application market are IT and telecom, healthcare, BFSI, retail government and defense, and others.
The trends of the global cloud application security market is studied across APAC, EU, MEA, and North America, following the Rest of the World. The cloud application security in the North America region is expected to rise exponentially due to the increase in the adoption of cloud application security solutions across major tech-companies. The presence of effective cloud security infrastructure can also support the expansion of the regional market. In Europe, the expansion of the cloud application market can be attributed to rapid adoption of artificial intelligence enabled solutions by the cloud application security market. In addition, the rise in security breaches and the growing need to comply with strict regulations is boosting the adoption of cloud application that can impel the expansion of the market across the analysis period. The growing popularity of cloud application security solutions, such as cloud application discovery, data protection, threat protection, analytics and reporting, and others can boost the cloud application security global market in the years to come.
Juniper Networks, Inc. (U.S), Cisco Systems Inc. (U.S), Skyhigh Networks (U.S), Bitglass Inc. (US), Fortinet, Inc. (U.S), Symantec Corporation (U.S), International Business Machines Corporation (U.S), Microsoft Corporation (U.S), Palo Alto Networks, Inc. (U.S), Netskope Inc. (U.S), CipherCloud (U.S), Trend Micro Inc. (Japan), Zscaler (U.S), Proofpoint Inc. (U.S), CensorNet Ltd. (U.K), McAfee, Inc. (U.S), and Oracle Corporation (U.S) among others are top-notch companies that are operating in the cloud application security market as listed by MRFR.
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