The global cloud security market revenue was around US$ 35.8 billion in 2022 and is estimated to reach US$ 125.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 13.6% during the forecast period from 2023 to 2032.

Cloud security safeguards applications, cloud data, and infrastructure from cyber-attacks and cyber threats. Business-critical data and apps are shifting to reputable third-party cloud service providers (CSPs) as enterprise cloud usage rises. The majority of CSPs have typical cybersecurity tools with alerting and monitoring features in their service offerings, but the internal IT security team may see that these tools do not cover all the bases, suggesting that there are cybersecurity holes between what the CSP offers and what the enterprise demands.

Factors Influencing Market Growth

- The increasing market for managed security services, the growing number of cyber-attacks, and the rising emergence of development security functions in the cloud environment are factors that drive the growth of the cloud security market.

- Factors like high navigation costs, lack of awareness about cloud security, and strict regulations are hindering the growth of the cloud security market.

- Factors like the expansion of the cloud computing landscape and the growth of mobile computing are providing an opportunity for the cloud security industry development.

Impact of COVID-19

The COVID-19 pandemic has accelerated the demand for the cloud security market as several cyber-attacks grew during the pandemic. During the COVID-19 pandemic, cloud computing services were quickly and even randomly executed. Organizations discovered it challenging to handle growing assets and effectively protect against these vulnerabilities.

Cloud security became more vital due to the growing risk that cloud services could be used by cybercriminals as access points into the networks of organizations. Therefore, COVID-19 has augmented the demand for cloud security solutions and had a positive influence on the cloud security market.

Regional Analysis

In 2022, North America dominated the global cloud security market in terms of revenue, due to the growing demand and the usage of cloud technology by several major technological companies present in the region.

Also, the Asia-Pacific region is anticipated to notice the fastest growth rate and is likely to dominate the cloud security market during the forecast period because of the large number of technological start-ups developing in the region.

Leading Companies

The leading prominent companies profiled in the global cloud security market are:

- Fortinet Inc.
- Sophos Ltd.
- Cloudflare Inc.
- Tenable Inc.
- BMC Software Inc.
- Broadcom Corporation
- Cisco Systems Inc.
- IBM Corporation
- Trend Micro Inc.
- Watchguard Technologies Inc.
- Other prominent key players

Segmentation Outline

The global cloud security market segmentation focuses on Type, Enterprise Size, Deployment Mode, Industry Vertical, and Region.

Segmentation based on Type

- Cloud Identity and Access Management
- Data Loss Prevention
- E-Mail and Web Security
- Cloud Database Security
- Cloud Encryption
- Network Security

Segmentation based on Enterprise Size

- Large Scale Enterprises
- Small and Medium Scale Enterprises

Segmentation based on Deployment Mode

- Private
- Hybrid
- Public

Segmentation based on Industry Vertical

- BFSI
- IT and Telecom
- Healthcare
- Retail
- Government
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa