Cloud Security Software Market - Growth, Trends, and Forecast (2019 - 2024)

The Cloud Security Software Market can be segmented by Type (Cloud Identity and Access Management Software, Cloud Email Security, Cloud Intrusion Detection and Prevention, and Cloud Encryption), Deployment Model (Public, Private, and Hybrid), End-user Industry (BFSI, Healthcare, Telecom and IT, and Aerospace and Defense), and Geography.

Market Snapshot

cloud security summary
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

4.98%

Key Players:

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Market Overview

The cloud security software market was valued at USD 28.1 billion, in 2018, and is expected to reach a market value of USD 35.6 billion, by 2024, registering a CAGR of 4.98%, during the forecast period, 2019 - 2024. The growing data generation and increasing complexity of technologies have resulted in a heavy dependence of organizations on cloud services for operations and data management. This growth in the adoption of cloud services has a direct impact on the demand for cloud security solutions.

  • An increasing number of cloud-related cyber-attacks is the major driving factor for this market. A recent report by a cloud security provider, Armor, suggested that cloud customers were hit with 681 million cyber-attacks, last year. According to the 2018 Cost of a Data Breach Study by Ponemon Institute, the average cost of a data breach in 2018 was USD 3.86 million, which is a 6.4% increase on the 2017 cost of USD 3.62 million. 
  • The migration of processes from on-premise to cloud is a major challenge, since most of the company's processes, like billing and CAPEX, are based on subscription-based models. Thus, however powerful cloud security solutions are adopted by the company, some of the processes can't be protected. 

Scope of the Report

The cloud industry has experienced rapid growth in its adoption in the last decade from technology-based companies. This trend is also followed by other industries like BFSI and Healthcare, due to their realization of the advantages offered by the cloud systems. This is creating an environment where cloud services are acting as the backbone of many business operations. 

By Type
Cloud Identity and Access Management Software
Cloud Email Security
Cloud Intrusion Detection and Prevention
Cloud Encryption
By Deployment Model
Public
Private
Hybrid
By End-user Industry
BFSI
Healthcare
Telecom and IT
Aerospace and Defence
Other End-user Industries
Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
United Arab Emirates
Saudi Arabia
Israel
Rest of Middle East & Africa

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Key Market Trends

Intrusion Detection and Prevention to Register Significant Growth

  • An intrusion detection and prevention software (IDPS) monitors network traffic for signs of a possible attack. When it detects potentially dangerous activity, it takes action to stop the attack. Often this takes the form of dropping malicious packets, blocking network traffic, or resetting connections. The IDPS also usually sends an alert to security administrators about the potential malicious activity.
  • The two main contributors to the successful deployment and operation of an IDS or IPS are the deployed signatures and the network traffic that flows through it.
  • According to a report by Insider Threat, in 2018, most insider exploits are detected through IDPS. This indicates the popularity of IDPS, and why majority of the vendors are offering this service. 
Detection method for insider attacks

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Asia-Pacific to Witness the Highest Growth

  • In Asia-Pacific, great strides are being made in digital economy. But, it is also causing more threat-related opportunities. According to Cisco, companies receive 6 threats every minute, in APAC, and 51% of all cyber-attacks resulted in a loss of more than USD 1 million
  • In addition to financial losses, cybersecurity incidents are also undermining the Asia-Pacific organizations’ ability to gain confidence with their consumers and other stakeholders.
  • Major companies are setting their footprint in Asia-Pacific. For instance, Google expanded the number of Google Cloud Platform regions in Asia-Pacific, from three to six, in 2018.
  • To retain the data authenticity generated by any industry (for instance, customer shopping data for personalization in retail), move toward cloud and hence, its security is of utmost importance. 
cloud security map

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Competitive Landscape

The market for cloud security software is fragmented, due to the rise in cyber-attacks over the years. Enterprises have become more aware and careful regarding their data stored in the cloud, and thus, are availing offerings from companies, like CA Technologies, McAfee, and RSA Security, for cloud protection. 

  • April 2019 - Trend Micro announced enhancements to its Deep Security and Cloud App Security products, designed to extend protection to virtual machines on the Google Cloud Platform, Kubernetes platform protection, container image scanning integration with the Google Kubernetes Engine (GKE), and Gmail on the G Suite. 
  • April 2019 - McAfee announced its support for Google Cloud Platform (GCP), Cloud Security Command Center (Cloud SCC). McAfee MVISION Cloud now integrates with GCP Cloud SCC, to help security professionals gain visibility and control over their cloud resources, and detect and respond to threats. 
  • March 2019 - RSA unveiled the newest version of its market-leading SIEM, RSA NetWitness Platform, which featured machine learning models, based on deep endpoint observations, to rapidly detect anomalies in user’s behavior, to uncover evolving threats.

 

Major Players

  1. TrendMicro Inc.
  2. RSA Security LLC
  3. CA Technologies
  4. McAfee Inc.
  5. IBM Corporation

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Increasing Number of Cloud-related Cyber-attacks is Augmenting the Market Growth

    4. 4.4 Market Restraints

      1. 4.4.1 Migration of Processes from On-premise to Cloud is a Major Challenge

    5. 4.5 Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Cloud Identity and Access Management Software

      2. 5.1.2 Cloud Email Security

      3. 5.1.3 Cloud Intrusion Detection and Prevention

      4. 5.1.4 Cloud Encryption

    2. 5.2 By Deployment Model

      1. 5.2.1 Public

      2. 5.2.2 Private

      3. 5.2.3 Hybrid

    3. 5.3 By End-user Industry

      1. 5.3.1 BFSI

      2. 5.3.2 Healthcare

      3. 5.3.3 Telecom and IT

      4. 5.3.4 Aerospace and Defence

      5. 5.3.5 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Russia

        5. 5.4.2.5 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 South Korea

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 Latin America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Mexico

        3. 5.4.4.3 Argentina

        4. 5.4.4.4 Rest of Latin America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 Israel

        4. 5.4.5.4 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 TrendMicro Inc.

      2. 6.1.2 RSA Security LLC

      3. 6.1.3 CA Technologies

      4. 6.1.4 McAfee Inc.

      5. 6.1.5 IBM Corporation

      6. 6.1.6 CipherCloud Inc.

      7. 6.1.7 Gemalto NV

      8. 6.1.8 VMware

      9. 6.1.9 Microsoft Corporation

      10. 6.1.10 Dell Corporation

      11. 6.1.11 Hewlett Packard Enterprise

      12. 6.1.12 Cisco Solutions

      13. 6.1.13 Cisco Systems Inc.

      14. 6.1.14 Panda Security SL

      15. 6.1.15 Forcepoint LLC

      16. 6.1.16 Check Point Software Technologies Ltd

      17. 6.1.17 Trustwave Holdings

      18. 6.1.18 Intel Security Group

      19. 6.1.19 Porticor Ltd

      20. 6.1.20 Fortinet Inc.

      21. 6.1.21 NetLib Security Inc.

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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