Market Overview:
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.
Considering the proliferation, that the market witnesses today; Market Research Future (MRFR), in its recently published market study report confirms that the valuation by 2023, posting a double-digit CAGR of around 14% throughout the review period (2017 – 2023). Recent data breaches and security concerns that continue to plague the business on the insecurity of data and assets in the cloud are some of the key driving forces behind the market.
Additional factors that are boosting the growth of the market include the penetration of ubiquitous artificial intelligence technology and The security infrastructure and critical cloud applications that organizations are targeting to overcome compliances and to maintain strong compliance requirements.
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Moreover, various cloud application security solutions including data protection, cloud application discovery, analytics and reporting, and threat protection among others are boosting the growth of the cloud application security market.
Industries such as banking, government, telecom, financial services, etc. that were traditionally following On-Prem model are now increasingly moving some of their services and solutions to the cloud, which, in turn, is fostering the market growth.
Key Players
Some of the prominent players in the global Cloud Application Security Market: Microsoft Corporation (U.S), Cisco Systems Inc. (U.S), Fortinet, Inc. (U.S), Symantec Corporation (U.S), Bitglass Inc. (US), Oracle Corporation (U.S), Palo Alto Networks, Inc. (U.S), Proof point Inc. (U.S), Netskope Inc. (U.S), Censor Net Ltd. (U.K), Cipher Cloud (U.S), Skyhigh Networks (U.S), IBM Corporation (U.S), Trend Micro Inc. (Japan), Zscaler (U.S), McAfee, Inc. (U.S), and Juniper Networks, Inc. (U.S) among others.
Global Virtualization 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.
Global Virtualization Security Market – Regional Analysis
The regional segmentation of the global cloud application security market comprises of North America, Europe, Asia Pacific, Middle East & Africa (MEA) and rest of the world (RoW). Due to technological advancement and best internet connectivity, North America is the biggest market for cloud application security. In this region, the biggest markets are the United States of America (USA), Canada and Mexico. Majority key players of this market are based in the USA.
Due to the highest population among all continents and technological advancement, Europe is the second biggest market. In Europe, maximum revenue comes from Germany and the United Kingdom (UK). As a market, Europe is expected to grow a lot during the forecast period. Other important countries of Europe market are France, Italy, and Spain.
In the Asia Pacific, due to rising industrialization and steady technological advancement and visible growth of cloud infrastructure, it is a growing market. Although the whole Asia Pacific is a huge market for cloud application security, the cream of this market in Australia, China, India, Japan and New Zealand. In the MEA region, few nations have good internet and proper IT infrastructure. Therefore, the MEA region is a small market for cloud application security.
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Latest Industry News
- Google has introduced shielded virtual machines (VMs). These would leverage advanced platform security capabilities to help ensure that there is no tampering with the users’ VMs. These specialized VMs run on Google Cloud Platform (GCP). They come with a set of partner security controls to defend against things like boot kits and rootkits. 25 JUL 2018
- Zscaler, a global cloud-based information security company has announced integration with Microsoft Cloud App Security. The Zscaler™ platform-Microsoft Cloud App Security integration feature set delivers the security of the Zscaler security cloud coupled with the functionality of the Microsoft Cloud App Security solution. It provides a streamlined service that allows enterprises to embrace the cloud securely. 26 JUNE 2018
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