The growth of the market is governed by various factors such as growing security breaches targeting business-critical cloud applications and simple combination of cloud application security solutions with existing security infrastructure
Market Size – USD 7.65 Billion in 2018, Market Growth - CAGR of 14.7%, Market Trends-The adoption of Internet of Things (IoT).
The Cloud Application Security Market is expected to reach USD 23.07 Billion by 2026, according to a new report by Reports and Data. Organizations require to implement security solutions to sustain consistency in the security procedures across the hybrid data center. Organizations demand integration of application server and in-memory data grid abilities together via cloud application. Customers can create intelligent, connected, and customer-centric supply chains in the organizations with the help of cloud applications. Cloud application security solutions submits data security with real-time monitoring.
The analytics and reporting cloud application security suite includes cloud usage analytics, log management, and anomaly detection. With the rise in adoption of cloud applications, the need for analytics and reporting solution is expected to gain pace in the market.
The market in the APAC region is expected to witness the highest CAGR of 15.9% during the forecast period. Increasing the digitalization of businesses, new cloud services, and the rise of fin-tech companies have put Asia Pacific on a notable growth. Protection of the largest population of smartphone users is going to be a fundamental driving factor in this region's growth going ahead.
The Key players in the Cloud Application Security Market include Cisco Systems, Inc.; Sophos Ltd.; CipherCloud; HyTrust, Inc.; Proofpoint; Netskope Cloud Support; Twistlock Ltd.; Symantec Corporation; Fortinet, Inc.; and Microsoft Corporation.
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Further key findings from the report suggest
- The cloud application security market is estimated to reach USD 23.07 Billion by 2026, at a CAGR of 14.7% during the forecast period.
- The support services accounts for the largest share of 45.1% of the market in 2018.
- The analytics and reporting solution is anticipated to grow at the highest rate of 15.7% during the forecast period.
- The IT Telecommunications application segment is anticipated to grow at the highest rate of 15.0% during the forecast period.
- The Small Medium Enterprises (SMEs) organization is anticipated to grow at a higher rate of 14.8% during the forecast period.
- North America region accounted for the largest share of 31.3% of the market in 2018. The increased production capacities of dominant companies in the region drives the growth. Technological progress in the manufacturing sector is among the crucial factors propelling the market demand.
- Various players are developing strategies to mark their presence in the industry.
- For example, Trend Micro launched Trend Micro Security 2015 in October 2014. The security solution is dedicated to Android, Windows, and iOS platforms to render security solutions for cyber threats, irrespective of the operating system of the device. The security solution would preserve personal information and data of users as well as sustain the privacy of users. The other top approaches in the cloud security industry include collaboration, followed by acquisitions and expansion.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/cloud-application-security-market
For the purpose of this study, Reports and Data have segmented the market on the basis of Solution, Services, Application, Organization size, and region:
Solution Outlook (Revenue, USD Million; 2016-2026)
- Data Protection
- Analytics and Reporting
- Threat Protection
- Cloud Application Discovery
Services Outlook (Revenue, USD Million; 2016-2026)
- Support Services
- Consulting Services
- Training and Education Services
Application Outlook (Revenue, USD Million; 2016-2026)
- Banking, Financial Services Insurance (BFSI)
- IT Telecommunications
- Media Entertainment
- Healthcare Life Sciences
Organization size Outlook (Revenue, USD Million; 2016-2026)
- Large Enterprises
- Small Medium Enterprises (SMEs)
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
- Middle East Africa
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Market Report includes major TOC points:
- Cloud Application Security market Overview
- Global Economic Impact on Industry
- Global Market Competition by Manufacturers
- Global Production, Revenue (Value) by Region
- Global Supply (Production), Consumption, Export, Import by Regions
- Global Production, Revenue (Value), Price Trend by Type
- Global Market Analysis by Application
- Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Market Effect Factors Analysis
- Cloud Application Security market Forecast
Conclusively, all aspects of the Cloud Application Security market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.