crucial business operations. It helps them to maximize shareholder’s value, streamline their business operations and effectively address customer expectations. Though security concerns remain a major threat, cloud security solutions are addressing these threats and allowing companies to adopt cloud-based services. This market is expected to grow at a CAGR of 28.50% for the period 2016 - 2021.
Security remains a major challenge in cloud services deployment. To meet this challenge, cloud storage providers are providing cloud encryption where data and texts are encrypted using encryption algorithms and placed in a storage cloud. Cloud encryption is almost the same as in-house encryption with one major difference. The cloud customers must learn about the procedures and policies of encryption. The cloud encryption techniques being used by the service provider should match with the level of sensitivity of the data that is being hosted.
Traditionally, the on-site setup of the security software results in the high cost of ownership including hardware, power, space and management. The cloud security software circumvents these expenses as the cloud vendors are responsible for the maintenance, implementation, upgrades, backup and less interference of IT personnel. The mutual agreement between cloud service providers and security solution providers is one key trend upcoming in the market. As the market matures, cloud security is expected to become an integral part of cloud services, which will encourage cloud service providers to partner with security solution providers to provide security software and maintain their competitiveness.
The cloud security market witnessed a high growth when many of the enterprises made a move towards cloud technology for cost cutting, flexibility, maintenance and agility. This boom led to a rise in cloud specific threats which gave rise to cloud security solutions.
WHAT THE REPORT OFFERS