Cloud Computing is among the fastest emerging trends in the IT industry. With more and more corporate organizations are depending on cloud computing, the cloud security is among the biggest concerns raised by the whole industry. Hence, the market for cloud application security is set to grow in the near future. Organizations need to implement security solutions in order to manage consistency in the security policies across the hybrid data center. Via cloud application, organizations need to integrate application server and in-memory data grid capabilities together. With cloud applications, customers wish to create an intelligent, connected and customer-centric supply chains in the organizations. Cloud application security solution offers data security with real-time monitoring. It alerts the system during the events of a data breach.
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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 2017 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.
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.
The regional segmentation of the Cloud Application Security Market Size 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.
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.
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.
The key players of cloud application security market include Bitglass Inc. (USA), Censor Net Ltd. (UK), Cipher Cloud (USA), Cisco Systems Inc. (USA), Fortinet, Inc. (the USA), IBM Corporation (USA), Juniper Networks, Inc. (USA), McAfee, Inc. (USA), Microsoft Corporation (USA), Netskope Inc. (USA), Oracle Corporation (USA), Palo Alto Networks, Inc. (USA), Proof point Inc. (USA), Skyhigh Networks (USA), Symantec Corporation (USA), Trend Micro Inc. (Japan), and Zscaler (USA).
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