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.
The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
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For ease of understanding, the market is segmented into four key dynamics: –
By Component : Data Protection, Cloud Application Discovery, Analytics & Reporting, and Threat Protection among others.
By Organization Size : Small & Medium-sized Enterprises, Large Enterprises.
By Vertical : BFSI, Government & Defense, IT & Telecom, Healthcare, and Retail among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
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.
Cloud Application Security Market Covid 19 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.
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.
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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