- The global cloud security software market was valued at US$ 7.57 Bn in 2019 and is anticipated to grow at a CAGR of 20.55% over the forecast period.
- Industries are increasingly adopting hybrid IT Infrastructure which comprises of both on-premise as well as cloud applications. This is mainly due to its high agility, flexibility and reduced hardware requirements. Hybrid IT architecture results in frequent data exchange between cloud and on-premise servers, which in turn is creating high demand for security software tools to mitigate any risks of data breach.
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- COVID-19 pandemic outbreak has accelerated the adoption of cloud computing among businesses to facilitate remote working and for efficient collaboration. This is creating high demand for cloud security software tools to prevent unauthorized data access from the employee’s system of network, since the employee’s network is likely to be vulnerable to malicious external attacks by hackers.
- North America accounted for highest market share in the global cloud security software market in 2018. This is due to the large number of cloud security software providers in this region and their partnerships with government entities for securing crucial data.
- Market participants are moving towards securing their public cloud offerings using dedicated cloud security solutions from leading cyber security companies. Some of the players operating in the cloud security software market are Alibaba Cloud, Amazon Web Services, Inc., Broadcom, Check Point Software Technologies Ltd., CipherCloud, Inc., Cisco Systems, Inc., Cloudflare, Inc., Comcast, CyberArk Software Ltd., Dell Inc., DXC Technology Company, Fortinet, Inc., Google LLC, IBM Corporation, Intel Corporation, Juniper Networks, Inc., McAfee, LLC, Microsoft, NortonLifeLock Inc., Oracle, Palo Alto Networks, Inc., Qualys, Inc., RSA Security LLC., Sophos Ltd., Teradata, Thales, Trend Micro Incorporated, Trustwave Holdings, Inc., Venustech Group Inc. and Zscaler, Inc. amongst others.
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The detailed research study provides qualitative and quantitative analysis of cloud security software market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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