Growing trend of BYOD and upsurge in the adoption of cloud adoption across diverse verticals, such as healthcare, government, retail, IT & telecommunications, BFSI, and others, have fueled the growth of the market. In addition, rising number of cyberattacks & threats alike fuel the growth of the cloud security market. The world cloud security market is expected to thrive in future due to increasing dependency on cloud-based applications & services for payments & financial transactions, data storage, social media, and others.
The world cloud security market is segmented into type, end user, vertical, deployment, and geography. Based on end user, the market is segmented into large enterprises and small & medium enterprises. Large enterprises segment dominates the market, owing to increased adoption of cloud services and cloud security services. However, small & medium enterprises have witnessed significant increase in the adoption of cloud security services and the segment is expected to grow at a CAGR of 25.7% during the forecast period (2015-2020).
Key findings of the study:
- Retail, government, and healthcare sectors offer lucrative growth potential in the world cloud security market
- The Asia-Pacific region is projected to be the most lucrative market. The region is expected to witness the highest CAGR of 27.4% during the forecast period
- The hybrid type of deployment is projected to growth rapidly, owing to increase in adoption of hybrid cloud in large and small & medium sized enterprises
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