Market Share of Retail Cloud Security Industry
There is intense competition with several providers of Cloud Security, because of which market concentration will be low. Almost every industry is transitioning from on-premises to digital platforms for corporate activity. With rapid digitalization, cyber-attacks and data breaches have increased. Thus, businesses are compelled to opt for cloud security solutions. Some significant cloud security providers in this sector include IBM Corporation, Trend Micro Inc., McAfee, Broadcom Inc., and Cisco Systems Inc. With new product solutions and services, mergers and acquisitions, and strategic collaborations, these Cloud security player are expanding their reach in different industries and geographies.
In February 2023, Cisco acquired Valtix to enhance its security cloud portfolio. The cloud solution designed by Valtix can achieve 100% security coverage through continuous discovery and takes 30 seconds to adapt to new apps and modifications to existing apps dynamically. The integration will fasten Cisco's progress towards providing an easy-to-use environment for safeguarding workloads across multi-cloud settings.
In October 2022, Beyon Cyber and Trend Micro partnered to boost Bahrain's cybersecurity framework. According to the agreement, the companies will detect cyber threats in real time, take preemptive measures to contain them and reduce risk and harm, giving the nation's organizations complete insight to safeguard all digital environments with full visibility and control.
In May 2022, Thailand-based retail company TD Tawandang collaborated with Google Cloud to provide a retail-as-a-service platform to its customers. Adopting Google Cloud's secure and scalable infrastructure, advanced analytics, artificial intelligence (AI), and machine learning (ML) technologies will help convenience store chains with more streamlined backend services.
Retail Cloud Security Market Leaders
Trend Micro Inc.
Imperva Inc.
Broadcom Inc.
IBM Corporation
Cisco Systems Inc.
*Disclaimer: Major Players sorted in no particular order
