The Preordained Growth Of Cloud Security Market

With the announcement of a new community for cloud and edge computing been made by Linux recently, we felt its right time to let you in on the market of Cloud Security. 

Cloud security is a significant problem for suppliers of cloud storage. Not only do they have to meet their clients; they also have to comply with some legislative demands to store delicate data such as credit card numbers and health information. Third-party audits of the safety mechanisms and processes of a cloud provider assistance guarantee the safety of user data.

The new community that has been started by the Linux Foundation comprises all the stars of tech business, including Alibaba, Arm, Baidu, Google Cloud, IBM, Intel, Microsoft, Red Hat, Swisscom, and Tencent.

This open-source community is called Confidential Computing Consortium (CCC). The Confidential Computing Consortium is set to bring together hardware suppliers, cloud suppliers, developers, open-source professionals and scholars to speed up the private computing industry; influence technical and regulatory standards; and create open-source instruments that provide the correct atmosphere for TEE development.

With communities solely for improving the security of cloud-based applications, along with investments in R&D are fueling the market growth of the cloud security market. Apart from this, wide adaption to cloud-based storage by many individuals and firms are also invariably increasing the demand for cloud security 

 FACTORS DRIVING THE MARKET:

• Increasing BYOD and IoT adoption. 
•  Rise in the implementation of safety alternatives based on the cloud. 
• Increasing cloud computing requirement. 
• Increasing public initiatives and smart cities

  THE MARKET PERSPECTIVE:

• The BFSI industry is the most significant segment by end-user, representing 24 percent of the market share of cloud security solutions. This segment includes an enormous quantity of confidential information, making the segment a top target for hackers and cybercriminals.
•  With the advent of IDaaS, the increased demand for vulnerability management and compliance, partnerships between cloud service and traditional safety solution suppliers, and mobile workforce development are expected to be the primary emerging trends to gain market traction by 2021.
•  Geographically, the Americas dominated the market, representing over 51 percent of the market share. Due to the accessibility of appropriate IT and company infrastructure, this region was the early adopters of cloud security solutions, but market share in the area is anticipated to decrease by the end of 2020 owing to market saturation.

  REGION WISE MARKET OVERVIEW

•  Due to government and enterprise adaptation to cloud technology, North America is the prospective market for cloud security.
•  Because of the increasing trend of BYOD and CYOD strategies and the superior benefits of cloud security facilities, there will be tremendous growth for cloud security in the Asia Pacific market as well.   

 Over the past decade, the worldwide cloud security industry has witnessed a continuous rise in product consumption, with companies being the majority consumer shareholders. Homeowners hold a significantly tiny proportion of the share since home usage apps are quite restricted. Industry specialists have argued that the increase in demand from other vertical industries is anticipated to increase, leading to higher demand in the future and greater consumption.