Cloud data security software is also recognized as cloud computing security software. It is employed to execute specific tasks for protecting cloud-based systems, data, and infrastructure. It provides various levels of control in the network infrastructure to protect the privacy of users, support regulatory fulfillment and establish authentication rules for individual users & devices. As a result, both government, as well as private organizations, utilizes cloud storage & security software as they eliminate the requirement to invest in dedicated hardware and reduce the administrative overheads.
As per analysis, “Global Cloud Data Security Software Market” the key companies operating in the global cloud data security software market include Symantec Corporation, Cisco Systems Inc., Fortinet Inc., Trend Micro Inc., Panda Security, Intel Security, RSA Security LLC, Sophos Ltd., Broadcom Inc. and among others. Nowadays, leading companies transfer most of their data, applications and networks on the cloud servers, which are highly dynamic, distributed, and more susceptible to unauthorized access, cyberattacks, data exposure and other threats.
Based on services type, cloud data security software market can be bifurcated as cloud database security, cloud intrusion detection & prevention, cloud identity & access management, cloud network security, data loss prevention, cloud encryption, cloud email & web security and others. Cloud intrusion detection & prevention segment is expected to witness higher growth rate due to increase in cyber-attacks during the forecast period. Based on application, market can be bifurcated as IT & telecom, BFSI, government & agencies, healthcare and retail. Based on deployment type, market can be bifurcated as public, private and hybrid. In addition, based on end-use industry, market can be bifurcated as small & medium enterprises (SME) and large enterprises.
Rise in use of smart-phones & internet penetration, followed by increase in cloud computing by SMEs, upsurge in the use of handheld devices (BYOD & CYOD), increase in number of cloud-related cyber-attacks and growth in reliance on cloud based services are some major factors, which are responsible for growth of the cloud data security software market. However, lack of awareness among organizations & consumers about the requirement for security services is a major hindering factor for global market. Moreover, growth in adoption of advanced cloud security solutions in healthcare industries is a leading opportunity for market. Furthermore, availability of open source security software providers and increase in security issues & privacy concerns are major challenges for global market.
Based on geography, the North-America is a leading region in global cloud data security software market owing to large number of cloud security vendors, growth in adoption of cloud services by large & medium scale enterprises and emergence of smart cities across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to increase in cloud services in emerging economies, growth in reliance on cloud-based services coupled with increase in number of cyber-attacks over the forecast period. It is predicted that future of the global cloud data security software market will be bright on account of increase in government initiatives and growth in adoption of cloud-based security solutions during the forecast period.
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Global Cloud Data Security Software Market Analysis
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