Market Trends of Cloud Workload Protection Industry
This section covers the major market trends shaping the Cloud Workload Protection Market according to our research experts:
Hybrid Cloud Deployment to Drive the Market Growth
- The hybrid cloud deployment has experienced significant overall growth in the past few years compared to that of the other cloud services. It offers certain benefits like managing huge data and high processing speed that organizations need. Organizations are using hybrid cloud to scale computing resources and decrease the investment in managing high data processing demand.
- For instance, the Ohio state government has partnered with IBM to adopt a hybrid cloud to consolidate and modernize its departmental data centers into the state of Ohio Computing Center. The organization has mentioned housing thousands of applications with the same. With an ongoing effort to deliver citizen services faster and cheaper, the Singapore government will be shifting the bulk of its IT systems to commercial cloud services in the upcoming years.
- Hence, with the rising adoption of hybrid cloud across industries, there comes a dire need for a cloud workload protection platform. A hybrid cloud protection platform offers a reliable way for information security and helps manage policies and monitoring issues such as threats and intrusions. Moreover, these platforms support a wide variety of security and operations tasks, from breach detection and protection against ransomware.
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North America to Hold Significant Market Share
- North America is anticipated to hold a significant share in the cloud workload protection market. The region is the home of top cloud providers such as Microsoft Corporation and Amazon Web Services, which are continuously innovating their cloud offerings and expanding their customer base. According to IBM, the business adoption of managed cloud infrastructure services is likely to reach 68% in 2020 compared to 34% in 2018 in the United States.
- Organizations in the region are moving beyond the public cloud and are stepping into a new era of hybrid IT that combines public cloud, private cloud, and traditional IT. These organizations are implementing a hybrid cloud strategy to aid them in improving their business and delivering services to customers, hence creating demand for the market.
- Vendors are also encouraging the hybrid model in several ways. For instance, VMware Inc. and IBM announced new offerings to accelerate enterprise hybrid cloud adoption. The offerings include a new IBM service offering to help migrate and extend mission-critical VMware workloads to the IBM Cloud, and new integrations to help enterprises modernize applications with Kubernetes and containers.
- Moreover, the significant factors driving the growth for this region are the growing adoption of cloud services, the ever-increasing need to prevent cyber threats, better security compliant offerings by vendors such as CloudPassage, HyTrust, etc., and rising need for enhanced control and visibility mechanisms.
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