Cloud security helps organizations protect networks, endpoints, and applications from various malicious attacks, sophisticated cybercriminals, ransomwares, & Advanced Persistent Threats (APTs). The major forces driving the cloud security market are the increased adoption of Bring Your Own Device (BYOD) & Internet of Things (IoT) trends, rise in adoption of cloud-based security services, increasing demand for cloud computing & increasing government initiatives, and emergence of smart cities. Therefore, enterprises are deploying advanced cloud security services to secure networks and endpoints from cyber threats.
The cloud security market is anticipated to tread along a healthy growth track over the forecast period owing to factors such as proliferation of smart phones and widening base of internet users. Besides these, growing adoption of hosted environments by small & medium enterprises and rising concerns regarding security of information and data are stimulating the growth of the market. Increasing adoption of cloud services across diverse verticals has resulted in increased dependence on cloud for storage and other applications. Increasing number of internet users and growing adoption of cloud services are the key impacting factors for adoption of cloud security solutions. Over the period, the growth of online business would highlight significance of this factor.
The competitive landscape of the global cloud security market is likely to become more intense over the coming years, owing to the increasing demand for cloud computing solutions and the entrance of new players due to surmountable entry barriers. According to a research report released by Transparency Market Research, the leading players in the global cloud security market – including Symantec Corporation, Intel Security Group, and CA Technologies, Inc. – are consolidating their position by expanding their roles and offerings.
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