Major Players Covered in Cloud Application Security Industry are:
Key players leading the global cloud application security market include Cisco Systems Inc. (U.S), Microsoft Corporation (U.S), Fortinet, Inc. (U.S), Bitglass Inc. (US), Symantec Corporation (U.S), Oracle Corporation (U.S), Proof point Inc. (U.S), Palo Alto Networks, Inc. (U.S), Netskope Inc. (U.S), Cipher Cloud (U.S), Censor Net Ltd. (U.K), Skyhigh Networks (U.S), Trend Micro Inc. (Japan), IBM Corporation (U.S), Zscaler (U.S), Juniper Networks, Inc. (U.S), and McAfee, Inc. (U.S) among others.
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Market Research Future (MRFR) has published a research report about the global cloud application security market that figures huge growth with 14% CAGR in this market between 2020 and 2023. In terms of cash, the growth will rise to the US $ 12 bn as revenue. Factors that are driving the cloud application security market are artificial intelligence (AI), critical cloud applications, and security infrastructure. Due to rising security breaches, companies are targeting not only to overcome compliance but also to maintain strong regulations and compliance requirements among the organizations. The cloud application security solutions that are expected to contribute to the rapid growth of this market include analytics and reporting, cloud application discovery, data protection, threat protection, during the forecast period.
Companies are increasingly moving business-critical workloads to the cloud as it increases flexibility for employees and reduces IT cost. However, concerns about security and visibility also rise that can risk an organization’s security. In such a scenario, cloud application security help to strike the right balance, supporting access while maintaining control to protect critical data.
Moreover, organizations that have utilized innovation and digital transformation to remain competitive have led to the dramatic development in digital technologies and cloud computing. The proliferation of cloud computing domain has enabled new, complex business models and orchestrating more globally-based integration networks that is predominantly driving the demand in the cloud application security market.
Segmentation:
The global cloud application security market has been segmented into the component, organization size, vertical, and lastly, the region. The component is further segmented into solutions. The sub-segmentation of solutions includes analytics and reporting, cloud application discovery, data protection, and threat protection. These solutions analyze the cloud data and protect it. The analytics and reporting are segmented into anomaly detection, cloud usage analytics, and log management. During any data mining activity, anomaly detection is the identification of events, items, or observations which do not conform to an expected pattern or other items in a dataset. Log management maintains all activity logs on the cloud, including every sign in and signs out. Security information management (SIM) is the practice of collecting, monitoring and analyzing security-related data from computer logs. The threat protection has been segmented into malware detection and prevention, event management, and security information management. Cloud event management provides a consolidated view of problems that occur with user services, applications, and infrastructure so that users can resolve the problems more efficiently.
Data protection solution is used to protect stored, static and moving data in the cloud. Data protection solution has been sub-segmented into data loss prevention, identity & access management, and encryption. Data loss prevention solution detects potential data breaches/data ex-filtration transmissions and prevents them by monitoring, detecting and blocking sensitive data while in-use, in motion, and at rest. Encryption ensures that no third party can access data and the shared data is accessible only to the sender and receiver. Identity & access management is defined as a business discipline that enables the right individuals to access the right resources (data) at the right times and for the right reasons. Cloud application discovery segment is further classified into cloud application database and risk assessment. Cloud database is a database that runs on a cloud computing platform. The user services have been segmented into consulting service, support services, training and education service and other. By organization size, the market is segmented into small-sized enterprises, medium-sized enterprises, and large enterprise. Via vertical, the market is segmented into Banking, Financial Services and Insurance (BFSI), government and defense, healthcare, IT and telecom, retail and others.
Regional Analysis
The North American region heading with the increasing demand due to the rising rate of cloud security infrastructure, dominates the global cloud application security market. The region led by the vast technological advancements offers a favorable platform for cloud application security to evolve further. Factors such as the increasing demand for security solutions in the growing number of business and growing cloud computing market substantiate the market growth in the region. Also, factors such as the rapid adoption of AI and cloud computing are some of the significant driving forces contributing to the Cloud Application Security market in the region.
The Cloud Application Security market in the European region accounts for the second-largest market, globally. Vast technological advancements and proliferation of artificial intelligence (AI) and intelligent connected devices are some of the major factors positively impacting the market growth in the region.
Furthermore, the well-established infrastructure in the region propels the market growth, allowing faster implementation of advanced technologies. The increasing number of cyber-attacks in the burgeoning automotive and IT industry in this region is a key driving force pushing up the growth of the cloud application security market in the European region.
The Asia Pacific cloud application security market has emerged as a profitable market, globally. Factors such as the increasing number of businesses in the developing countries which are inclined toward automation and are increasingly adopting IoT devices are fostering the growth of the regional market. Besides, the proliferation of artificial intelligence (AI) and smart, connected, portable devices, and the burgeoning IT sector are acting as major tailwinds to the growth in the regional market. Also, the increasing numbers of prominent players in this market drive the market growth cloud application security in the APAC region.
Competitive Analysis:
Fiercely competitive, the cloud application security market appears to be fragmented due to the presence of various large and small-scale players. Matured players are substantially investing in transforming the business landscape in the future. Key players are incorporating strategic initiatives such as partnership, collaboration, acquisition, product & technology launch, and expansion to gain an edge over their competitors and thus to stay ahead in this market.
Top companies are coming up with the advanced technology solution to maintain themselves in the market competition. These market leaders are substantially investing in R&D to innovate new products continuously. To support their expansion strategies, they invest heavily and acquire small yet promising companies from the emerging regions.
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Industry/Innovation/ Related News:
March 28, 2019 — Tech Data Corporation (India), a leading global distribution company specializing in IT products and services, headquartered in the US announced a partnership with Barracuda Networks (India), a leader in security and data protection technologies to distribute Barracuda’s cloud-enabled security solutions across India.
This deal presents a huge opportunity for Tech Data’s clients to support their customers with leading-edge cloud-enabled security and data protection solutions. With Tech Data’s comprehensive channel approach encompassing sales, technical, logistics, and marketing support and services, Barracuda will be able to drive growth in this promising segment and geography.
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