The Global Cloud Security Market size is projected to rise from USD 34.50 billion in 2020 to USD 80.10 billion by 2027, at a CAGR of 10.3 % over the forecast period.
An increasing number of security breaches and cyber-attacks as well as a mandate to follow regulatory and data protection laws have contributed to the growth of the ecosystem on the cloud security market. The main driving forces for the industry include the growing number of advanced cyber-attacks on cloud computing platforms and the increasing need to comply with different upcoming laws.
Cloud security is essential for the various people who care about the safety of the data that they keep in the cloud. They think it is easier to store data on their own local servers, so they know that they have more access power. However, data stored in the cloud could be better as cloud service providers have superior security policies, and their staff are encryption specialists. On-premise data could be more vulnerable to security violations, depending on the scope of the attack. Social engineering and ransomware will make any system for data storage vulnerable, but on-site data may be more vulnerable because its guardians are less experienced in detecting security threats.
The global cloud protection market is segmented by type, end-user, vertical, distribution and geography. End customers of cloud computing include large business and small and medium-sized businesses. The vertical application involves hospitals, BFSI, banking, IT & Telecom, government departments and other institutions.
Report : Cloud Security Market -By Vertical (Information, Finance and Insurance, Healthcare and Social Assistance, Retail Trade, Manufacturing, Utilities, Others) And By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, Opportunity and Forecast 2020 To 2027