A significant surge in high-profile data breaches coupled with increasing cloud adoption by various organisations is driving the global cloud data security market growth. Moreover, the rising trend of leveraging cloud platforms to store data has further necessitated the need for cloud data security solutions. The analyst offers a panoramic view of the global cloud data security market unveiling the anticipated growth trajectory over the forecasted period. Valued at over US$2.5 Bn in 2019, the global cloud data security market is now anticipated to reach US$13.2 Bn by 2029, growing at a CAGR of 15.9%.
Key vendors in the global cloud data security market are adopting various organic and inorganic growth strategies, including new product launches, strategic alliances and acquisitions, and business expansions. Going forward, such sincere efforts by industry participants to stay competitive are expected to steepen the growth curve for the global cloud data security market.
For instance, through public-private partnerships, strategic collaborations to advance smart megacity enterprises and smart transportation systems are being promoted. Additionally, acknowledging the constantly evolving cyberattack threat, prominent cloud vendors are increasingly investing in improving cloud security. All these trends together are projected to unlock novel revenue opportunities across the global cloud data security market.
Another key factor is the wide availability of a highly skilled workforce who possess a deep understanding of cloud computing and data security. A skilled workforce significantly accelerates the development of sophisticated cloud data security solutions that caters to the security needs of North American organizations. Gauging the momentum of these trends, North America is projected to gain a competitive edge in the global cloud data security market.
Key vendors in the global cloud data security market are adopting various organic and inorganic growth strategies, including new product launches, strategic alliances and acquisitions, and business expansions. Going forward, such sincere efforts by industry participants to stay competitive are expected to steepen the growth curve for the global cloud data security market.
Key Insights and Trends Across Global Cloud Data Security Market
- The cloud data security market size is projected to witness 5x revenue growth over the forecasted period
- The rapidly rising digitisation around the world is creating significant market inroads
- North America is anticipated to hold a prominent share of the global cloud data security market, with the US witnessing the fastest adoption
- Government entities to play a significant role in catalysing growth across the global cloud data security market
Ascending Cloud Technology Implementation Uplifts Cloud Data Security Market
In the aftermath of the COVID-19 pandemic, the trend of remote working has gained significant prominence, significantly boosting the adoption of cloud platforms. In addition to this, the need for internal resources to manage cloud services has contributed to the growing importance of managed services among small and mid-sized enterprises. SMEs are also adopting cloud computing in their procedures and operations due to its various benefits including rapid implementation, ease of access, low installation costs, and fewer IT structure requirements. In this context, government authorities around the world are increasingly investing in cloud-based computing delivery models.For instance, through public-private partnerships, strategic collaborations to advance smart megacity enterprises and smart transportation systems are being promoted. Additionally, acknowledging the constantly evolving cyberattack threat, prominent cloud vendors are increasingly investing in improving cloud security. All these trends together are projected to unlock novel revenue opportunities across the global cloud data security market.
North America’s Cloud Data Security Market Spearheads
North America is likely to defend its top position in the global cloud data security market during the study period. The advanced technological infrastructure and expertise of the region play a vital role in the region’s market growth. Moreover, the increased research and development activities across the region are improving the market growth prospects.Another key factor is the wide availability of a highly skilled workforce who possess a deep understanding of cloud computing and data security. A skilled workforce significantly accelerates the development of sophisticated cloud data security solutions that caters to the security needs of North American organizations. Gauging the momentum of these trends, North America is projected to gain a competitive edge in the global cloud data security market.
Prominent Market Players
Some of the key players in the global cloud data security market include Cisco Systems, IBM, Sailpoint Technologies, Microsoft Corporation, DELL, Oracle, CA Technologies, HITACHI, Micro Focus, Okta, and Centrify Corp.Table of Contents
1. Executive Summary1.1. Global Cloud Data Security Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions
2.2. Market Taxonomy
2.3. Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.4. Value Chain Analysis
2.5. Porter’s Five Forces Analysis
2.6. COVID-19 Impact Analysis
2.7. Key Patents
3. Global Cloud Data Security Market Outlook, 2019 - 2029
3.1. Global Cloud Data Security Market Outlook, by Components (US$ ‘000), 2019 - 2029
3.1.1. Key Highlights
3.1.1.1. Solutions
3.1.1.2. Services
3.1.2. BPS Analysis/Market Attractiveness Analysis
3.2. Global Cloud Data Security Market Outlook, by Verticals, Value (US$ ‘000), 2019 - 2029
3.2.1. Key Highlights
3.2.1.1. Banking & Financial Services
3.2.1.2. Government and Public Utilities
3.2.1.3. Healthcare and Life Sciences
3.2.1.4. IT and Telecom
3.2.1.5. Retail
3.2.1.6. Others
3.2.2. BPS Analysis/Market Attractiveness Analysis
3.3. Global Cloud Data Security Market Outlook, by Offerings, Value (US$ ‘000), 2019 - 2029
3.3.1. Key Highlights
3.3.1.1. Fully managed
3.3.1.2. Co-Managed
3.3.2. BPS Analysis/Market Attractiveness Analysis
3.4. Global Cloud Data Security Market Outlook, by Org Size, Value (US$ ‘000), 2019 - 2029
3.4.1. Key Highlights
3.4.1.1. Small and Medium-Sized Enterprises
3.4.1.2. Large Enterprises
3.4.2. BPS Analysis/Market Attractiveness Analysis
3.5. Global Cloud Data Security Market Outlook, by Region, Value (US$ ‘000), 2019 - 2029
3.5.1. Key Highlights
3.5.1.1. North America
3.5.1.2. Europe
3.5.1.3. Asia Pacific
3.5.1.4. Latin America
3.5.1.5. Middle East & Africa
3.5.2. BPS Analysis/Market Attractiveness Analysis
4. North America Cloud Data Security Market Outlook, 2019 - 2029
4.1. North America Cloud Data Security Market Outlook, by Components (US$ ‘000), 2019 - 2029
4.1.1. Key Highlights
4.1.1.1. Solutions
4.1.1.2. Services
4.1.2. BPS Analysis/Market Attractiveness Analysis
4.2. North America Cloud Data Security Market Outlook, by Verticals, Value (US$ ‘000), 2019 - 2029
4.2.1. Key Highlights
4.2.1.1. Banking & Financial Services
4.2.1.2. Government and Public Utilities
4.2.1.3. Healthcare and Life Sciences
4.2.1.4. IT and Telecom
4.2.1.5. Retail
4.2.1.6. Others
4.2.2. BPS Analysis/Market Attractiveness Analysis
4.3. North America Cloud Data Security Market Outlook, by Offerings, Value (US$ ‘000), 2019 - 2029
4.3.1. Key Highlights
4.3.1.1. Fully managed
4.3.1.2. Co-Managed
4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Cloud Data Security Market Outlook, by Org Size, Value (US$ ‘000), 2019 - 2029
4.4.1. Key Highlights
4.4.1.1. Small and Medium-Sized Enterprises
4.4.1.2. Large Enterprises
4.4.1.3. BPS Analysis/Market Attractiveness Analysis
4.5. North America Cloud Data Security Market Outlook, by Country, Value (US$ ‘000), 2019 - 2029
4.5.1. Key Highlights
4.5.1.1. U.S. Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
4.5.1.2. Canada Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
4.5.2. BPS Analysis/Market Attractiveness Analysis
5. Europe Cloud Data Security Market Outlook, 2019 - 2029
5.1. Europe Cloud Data Security Market Outlook, by Components (US$ ‘000), 2019 - 2029
5.1.1. Key Highlights
5.1.1.1. Solutions
5.1.1.2. Services
5.1.2. BPS Analysis/Market Attractiveness Analysis
5.2. Europe Cloud Data Security Market Outlook, by Verticals, Value (US$ ‘000), 2019 - 2029
5.2.1. Key Highlights
5.2.1.1. Banking & Financial Services
5.2.1.2. Government and Public Utilities
5.2.1.3. Healthcare and Life Sciences
5.2.1.4. IT and Telecom
5.2.1.5. Retail
5.2.1.6. Others
5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Cloud Data Security Market Outlook, by Offerings, Value (US$ ‘000), 2019 - 2029
5.3.1. Key Highlights
5.3.1.1. Fully managed
5.3.1.2. Co-Managed
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Cloud Data Security Market Outlook, by Org Size, Value (US$ ‘000), 2019 - 2029
5.4.1. Key Highlights
5.4.1.1. Small and Medium-Sized Enterprises
5.4.1.2. Large Enterprises
5.4.2. BPS Analysis/Market Attractiveness Analysis
5.5. Europe Cloud Data Security Market Outlook, by Country, Value (US$ ‘000), 2019 - 2029
5.5.1. Key Highlights
5.5.1.1. Germany Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
5.5.1.2. France Cloud Data Security Market by Product, Value (US$ ‘000), 2019 - 2029
5.5.1.3. U.K. Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
5.5.1.4. Italy Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
5.5.1.5. Spain Cloud Data Security Market by Product, Value (US$ ‘000), 2019 - 2029
5.5.1.6. Rest of Europe Cloud Data Security Market Value (US$ ‘000), 2019 - 2029
5.5.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific Cloud Data Security Market Outlook, 2019 - 2029
6.1. Asia Pacific Cloud Data Security Market Outlook, by Components (US$ ‘000), 2019 - 2029
6.1.1. Key Highlights
6.1.1.1. Solutions
6.1.1.2. Services
6.1.2. BPS Analysis/Market Attractiveness Analysis
6.2. Asia Pacific Cloud Data Security Market Outlook, by Verticals, Value (US$ ‘000), 2019 - 2029
6.2.1. Key Highlights
6.2.1.1. Banking & Financial Services
6.2.1.2. Government and Public Utilities
6.2.1.3. Healthcare and Life Sciences
6.2.1.4. IT and Telecom
6.2.1.5. Retail
6.2.1.6. Others
6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Cloud Data Security Market Outlook, by Offerings, Value (US$ ‘000), 2019 - 2029
6.3.1. Key Highlights
6.3.1.1. Fully Managed
6.3.1.2. Co-Managed
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Cloud Data Security Market Outlook, by Org Size, Value (US$ ‘000), 2019 - 2029
6.4.1. Key Highlights
6.4.1.1. Small and Medium-Sized Enterprises
6.4.1.2. Large Enterprises
6.4.2. BPS Analysis/Market Attractiveness Analysis
6.5. Asia Pacific Cloud Data Security Market Outlook, by Country, Value (US$ ‘000), 2019 - 2029
6.5.1. Key Highlights
6.5.1.1. India Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
6.5.1.2. China Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
6.5.1.3. Japan Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
6.5.1.4. Australia & New Zealand Cloud Data Security Market Value (US$ ‘000), 2019 - 2029
6.5.1.5. Rest of Asia Pacific Market by Value (US$ ‘000), 2019 - 2029
6.5.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America Cloud Data Security Market Outlook, 2019 - 2029
7.1. Latin America Cloud Data Security Market Outlook, by Components (US$ ‘000), 2019 - 2029
7.1.1. Key Highlights
7.1.1.1. Solutions
7.1.1.2. Services
7.1.2. BPS Analysis/Market Attractiveness Analysis
7.2. Latin America Cloud Data Security Market Outlook, by Verticals, Value (US$ ‘000), 2019 - 2029
7.2.1. Key Highlights
7.2.1.1. Banking & Financial Services
7.2.1.2. Government and Public Utilities
7.2.1.3. Healthcare and Life Sciences
7.2.1.4. IT and Telecom
7.2.1.5. Retail
7.2.1.6. Others
7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Cloud Data Security Market Outlook, by Offerings, Value (US$ ‘000), 2019 - 2029
7.3.1. Key Highlights
7.3.1.1. Fully Managed
7.3.1.2. Co-Managed
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Cloud Data Security Market Outlook, by Org Size, Value (US$ ‘000), 2019 - 2029
7.4.1. Key Highlights
7.4.1.1. Small and Medium-Sized Enterprises
7.4.1.2. Large Enterprises
7.4.2. BPS Analysis/Market Attractiveness Analysis
7.5. Latin America Cloud Data Security Market Outlook, by Country, Value (US$ ‘000), 2019 - 2029
7.5.1. Key Highlights
7.5.1.1. Brazil Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
7.5.1.2. Mexico Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
7.5.1.3. Rest of Latin America Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
7.5.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa Cloud Data Security Market Outlook, 2019 - 2029
8.1. Middle East & Africa Cloud Data Security Market Outlook, by Components (US$ ‘000), 2019 - 2029
8.1.1. Key Highlights
8.1.1.1. Solutions
8.1.1.2. Services
8.1.2. BPS Analysis/Market Attractiveness Analysis
8.2. Middle East & Africa Cloud Data Security Market Outlook, by Verticals, Value (US$ ‘000), 2019 - 2029
8.2.1. Key Highlights
8.2.1.1. Banking & Financial Services
8.2.1.2. Government and Public Utilities
8.2.1.3. Healthcare and Life Sciences
8.2.1.4. IT and Telecom
8.2.1.5. Retail
8.2.1.6. Others
8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Cloud Data Security Market Outlook, by Offerings, Value (US$ ‘000), 2019 - 2029
8.3.1. Key Highlights
8.3.1.1. Fully managed
8.3.1.2. Co-Managed
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Cloud Data Security Market Outlook, by Org Size, Value (US$ ‘000), 2019 - 2029
8.4.1. Key Highlights
8.4.1.1. Small and Medium-Sized Enterprises
8.4.1.2. Large Enterprises
8.4.2. BPS Analysis/Market Attractiveness Analysis
8.5. Middle East & Africa Cloud Data Security Market Outlook, by Country, Value (US$ ‘000), 2019 - 2029
8.5.1. Key Highlights
8.5.1.1. GCC Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
8.5.1.2. South Africa Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
8.5.1.3. Rest of Middle East & Africa Cloud Data Security Market by Value (US$ ‘000), 2019 - 2029
8.5.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape
9.1. Company Market Share Analysis, 2019
9.2. Company Profiles
9.2.1. IBM
9.2.1.1. Company Overview
9.2.1.2. Key Retailing Partners
9.2.1.3. Business Segment Revenue
9.2.1.4. Ingredient Overview
9.2.1.5. Product Offering & its Presence
9.2.1.6. Certifications & Claims
9.2.2. Cisco Systems
9.2.3. Microsoft Corporation
9.2.4. Sailpoint Technologies
9.2.5. Oracle
9.2.6. DELL
9.2.7. HITACHI
9.2.8. CA Technologies
9.2.9. Okta
9.2.10. Micro Focus
9.2.11. Centrify Corp
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Cisco Systems
- Microsoft Corporation
- Sailpoint Technologies
- Oracle
- DELL
- IBM
- HITACHI
- CA Technologies
- Okta
- Micro Focus
- Centrify Corp
Methodology
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