Cloud Security Market Worth $37.69 Billion, Globally, by 2027 at 25.86% CAGR: Verified Market Research

Cloud Security Market Worth $37.69 Billion, Globally, by 2027 at 25.86% CAGR: Verified Market Research

PR Newswire

JERSEY CITY, N.J., July 22, 2020

- The vital necessity of cloud computing by enterprises and the population as well as cloud security being adopted by business enterprises is likely to accelerate market growth.

JERSEY CITY, N.J., July 22, 2020 /PRNewswire/ --  Verified Market Research recently published a report, "Cloud Security Market by Security Type (Application Security, Database Security, Endpoint Security, Network Security, Web & Email Security), by Service Model (IaaS, PaaS, SaaS), by Deployment Model (Public Cloud, Private Cloud, & Hybrid Cloud), by Solution Type, Geography". According to Verified Market Research, the Global Cloud Security Market was valued at USD 6.76 billion in 2019 and is projected to reach USD 37.69 billion by 2027, growing at a CAGR of 25.86% from 2020 to 2027. 

Cloud Security Market Analysis & Forecast, 2020-2027

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Browse in-depth TOC on "Cloud Security Market"

202 - Pages
126 – Tables
37 – Figures

Global Cloud Security Market Overview

The vital necessity of cloud computing by enterprises and the population is likely to accelerate market growth. With the online breaches and technological attacks on the rise, security maintenance has become the point of focus. Hence companies have to take certain precautions before the onset of cyber risk. The recent statistics explain that there exist some organizations that have employed cloud-based security solutions. Around 90% of companies are deploying cloud-based services. Only 12% of global IT sectors understand how General Data Protection Regulation (GDPR) will affect the cloud services. 66% of IT engineers say that security was the biggest concern when they adopted the cloud computing platform. The role of the federal government in implementing cloud security is expected to boost market growth. The Cloud Security Alliance is a group of cloud vendors, who were linked with the FedRAMP (federal government cloud framework). The vendors needed to go through a lengthy, expensive process to get certified and to mitigate cyber risk. Today, FedRAMP is the must-do list for federal authorities and is becoming a central need for state and local governments who have gained official custody for handling federal data. Once, the cloud security technology is FedRAMP authorized, and other government agencies can approve the cloud technology at a reduced cost. Cloud security being adopted by business enterprises will dominate the economy of the market. In February 2017, Skyhigh Networks, the World's Leading Access Security Broker (CASB), had introduced the first complete security for custom-tailored applications and infrastructure-as-a-service (IaaS) platforms which are Amazon Web Services, Google Cloud Platform, and Microsoft Azure.

The function of cloud security solutions implemented in healthcare industries will create lucrative opportunities in the market. The Microsoft Azure Cloud Computing System collaborates with the data protection and privacy laws to curb cyber viruses and threats in the Health Insurance Portability and Accountability Act (HIPAA) of 1996 and the Health Information Technology for Economic and Clinical Health Act (HITECH). It can provide convenient access to healthcare data and applications. The Cloud Security can benefit the healthcare providers by Software as a Service, where the cloud can deliver healthcare organizations on-demand solutions and providing quick access to business applications and satisfying the customer relationship management (CRM).  SaRA Healthcare Technology has chosen Armor, a cloud security solutions provider. Armor developed the Security as a Service (SECaaS), Armor Anywhere, to safeguard the patients' data in the AWS cloud. The major players in the market are Intel Security, Trend Micro, Inc., Symantec Corporation, International Business Machines Corporation, Cisco Systems, Inc., Ca Technologies, Check Point Software Technologies Ltd., Computer Science Corporation (Csc), Fortinet, Inc., Sophos, Plc.

Verified Market Research has segmented the Cloud Security Market on the basis of Security Type, Solution Type, Service Model, Deployment Type, Organization Type, Application, and Geography.

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