Rise in Cloud-specific Attacks Predicted to Significantly Propel the Demand for Cloud Security Through 2020, Says Technavio

LONDON--()--According to the latest research study released by Technavio, the global cloud security market is expected to grow at a CAGR of over 20% until 2019.

This research report titled ‘Global Cloud Security Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments, including cloud IAM, cloud e-mail security, cloud IDS/IPS, and cloud DLP.

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“A key reason for the adoption of cloud security is the sudden increase in cloud-specific attacks. One of the reasons for such attacks is the growing use of cloud-based services that require users to reveal their credentials. This affects the confidentiality of user data, and it has resulted in several cases of identity theft,” said Amrita Choudhury, one of Technavio’s lead analysts for embedded systems research.

“The attack on Amazon.com in April 2011 is one such instance which led to a prolonged outage of Amazon services. Subsequently, Amazon's Elastic Block Store service was interrupted and was unable to accept customer requests. Another instance was the breach of e-mail marketing provider Epsilon in March 2011, which saw many companies, including large investment banks, being affected. Furthermore, the rise in cloud-specific attacks is fueled by the absence of strict guidelines and regulations. Thus, constant threats to cloud-based services is driving many companies to adopt cloud security solutions,” added Amrita.

Global cloud security market by solutions 2015

• Cloud IAM

    42.68%

• Cloud e-mail security

26.87%

• Cloud IDS/IPS

16.65%

• Cloud DLP

13.80%
 

Global cloud IAM market: largest segment

The global cloud IAM market was valued at close to USD 1.05 billion in 2015. Cloud IAM solutions have subscription fees for maintaining, monitoring, and upgrading services, which include training and support. The global cloud IAM market will witness significant growth during the forecast period due to the growing need for high-level security of data and identity security in corporate firms. The need for advanced security solutions is growing rapidly due to an increase in the number of attacks and threats from hackers. The adoption of cloud IAM solutions is growing among large enterprises and SMBs with increasing amounts of critical and confidential data being transferred. These solutions provide enterprises with greater control over access to applications and sensitive information from remote locations. High professional and personal use of mobile devices is also driving the demand for cloud IAM, as these are highly susceptible to attacks.

Global cloud e-mail security market: second largest segment

The global cloud e-mail security market was valued at USD 662.4 million. Any sensitive information transmitted through e-mails, potentially exposes an organization to cyber-attacks. Organizations face challenges such as loss and leakage of sensitive data that damage their market reputation. Access to corporate e-mails on various networks, within and outside an organization has therefore led increased instances of credential theft, insider fraud, and e-mail spam.

Employees in the healthcare, BFSI, government, transportation, and retail sectors often work remotely or do not spend all day at the desk. This compels companies to provide their employees with access to e-mail, databases, and stored documents through the cloud. Organizations' therefore need to be cautious as they look to provide these services and access to their networks through the cloud. This trend has increased the demand for cloud e-mail security and it is expected to positively impact market growth over the next four years.

Global cloud IDS/IPS market: third largest segment

The global cloud IDS/IPS market was valued at USD 410.4 million in 2015. The sophistication of cyber threats and hacking attempts is a major factor that drives the growth of the global cloud IDS/IPS market. An exorbitant increase in the number of intrusion attacks on organizational networks and applications located in cloud service provider's remote servers has motivated enterprises and CSPs to increase their spending on cloud security. Instances of internal frauds, and high dependence on cloud computing have further fueled the demand for cloud IDS/IPS among enterprises.

Browse related reports:

-- Global Cloud Email Security Market 2016-2020

-- Global Cloud Email Security Market 2016-2020Global Cloud Security Software Market 2015-2019

-- Global Cloud Email Security Market 2016-2020Global Cloud Security Software Market 2015-2019Cloud Security Market in the UAE 2015-2019

-- Global Cloud Email Security Market 2016-2020Global Cloud Security Software Market 2015-2019Cloud Security Market in the UAE 2015-2019

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com

Release Summary

According to the latest research study released by Technavio, the global cloud security market is expected to grow at a CAGR of over 20% until 2019.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com
media@technavio.com