Global Cloud Security Market projected to grow at a CAGR of 25.86% from 2022 to 2030.

The Global Cloud Security Market is projected to grow at a CAGR of 25.86% from 2022 to 2030, according to a new report published by Verified Market Research.

The report reveals that the market was valued at USD 10.71 Billion in 2021 and is expected to reach USD 84.86 Billion by the end of the forecast period.

The global Cloud Security market is experiencing a “remarkable surge”, driven by the ever-increasing adoption of cloud technology, mounting cybersecurity concerns, and the critical role played by federal governments.

Verified Market Research analysis reveals that key players such as Intel Security, Trend Micro, , Symantec Corporation, International Business Machines Corporation (IBM), Cisco Systems and many others are pivotal in shaping the industry’s landscape.

Cloud Security, often referred to as cloud computing security, comprises a suite of policies and protocols designed to protect cloud-based systems and data.

These security measures are meticulously configured to ensure the safeguarding of cloud-stored data, facilitate compliance with regulatory mandates, protect customer privacy, and establish stringent authentication procedures for individual users and devices.

The adaptability of cloud security allows for tailored configurations that align precisely with a business’s specific requirements. This centralized approach to rule management substantially reduces administrative overhead.

Global Cloud Security Market drivers

Rapid Cloud Adoption: The global business landscape is witnessing a swift transition towards cloud-based services, with approximately 90% of companies already embracing cloud technology.

Cybersecurity Concerns: With the increasing frequency of online breaches and technological attacks, security maintenance has emerged as a paramount concern. A staggering 66% of IT professionals have identified security as their primary apprehension when adopting cloud computing platforms.

Government Endorsement: The involvement of federal governments, with initiatives such as FedRAMP, has provided a significant boost to cloud security adoption. FedRAMP, with its comprehensive set of requirements for federal agencies, is now indispensable for state and local governments managing federal data.

Market Outlook

The outlook for the Cloud Security market is highly promising, with sustained growth expected in the coming years. The ongoing trend of digital transformation, coupled with escalating cybersecurity threats, positions cloud security solutions as an indispensable element of modern business operations. Additionally, the integration of cloud security in the healthcare sector, aligned with data protection and privacy regulations, offers lucrative market opportunities.

Key players in the Cloud Security market, including Intel Security, Trend Micro, Symantec, IBM, Cisco, and others, are at the forefront of innovation, continually enhancing their offerings to meet evolving security needs.

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