Cloud Data Security Market 2023-2032; Growth Forecast & Industry Share Report

As per a recent research report, Cloud Data Security Market surpass USD 15 Bn by 2032.

The increasing number and complexity of cyber threats are driving the demand for advanced security solutions to safeguard data from unauthorized access, data breaches, and other cyberattacks. Moreover, individuals are becoming more aware of their data privacy rights and the potential risks associated with data breaches, promoting the demand for stronger security measures from organizations that handle their personal information. As a result, organizations are investing heavily in cloud data security solutions to gain consumer trust and protect their brand reputation.

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With respect to component, the cloud data security market is classified into solutions and services. The services segment will reach a valuation of over USD 6 billion by 2032 as organizations seek to leverage the expertise and resources of security providers to manage security in the cloud effectively. Service components, such as managed services, professional services, and support and maintenance, provide the necessary support to implement, manage, and maintain cloud security solutions. The complexity of cloud computing is further complementing segment growth.

The cloud data security market is categorized in terms of offering type into fully managed and co-managed. The co-managed segment is estimated to depict more than 16% CAGR from 2023 to 2032, as per the report. The segment growth can be attributed to the flexibility offered to organizations to share responsibilities for managing security in the cloud with a third-party provider. It also enables businesses to maintain control over security while still benefiting from the expertise of a security provider.

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Asia Pacific cloud data security market will be worth over USD 4 billion by the end of 2032. Rising digitalization across various industries of the APAC region, including China, Japan, and India, is pushing the demand for these security solutions to secure data in the cloud. The booming IT & telecommunication industry in India has encouraged firms to shift to cloud-based technologies, resulting in the need for effective security solutions to protect their data and infrastructure.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Cloud data security industry 360° synopsis, 2018-2032

2.2    Business trends

2.2.1    Total Addressable Market (TAM), 2023-2032

2.3    Regional trends

2.4    Component trends

2.5    Organization size trends

2.6    Offering type trends

2.7    End-use trends

Chapter 3   Cloud Data Security Market Industry Insights

3.1    Impact of COVID-19

3.2    Russia- Ukraine war impact

3.3    Industry ecosystem

3.4    Vendor matrix

3.5    Profit margin analysis

3.6    Technology & innovation landscape

3.6.1    5G

3.6.2    DevSecOps

3.6.3    SASE-Secure Access Service Edge

3.7    Regulatory landscape

3.8    Patent analysis

3.9    Key initiatives & news

3.10    Industry impact forces

3.10.1    Growth drivers

3.10.1.1    Growing demand of cloud-based technology

3.10.1.2    Rising complexity associated with procurement for SMEs

3.10.1.3    Digitalization across various industries

3.10.1.4    Surging demand of cloud computing in government & public enterprises

3.10.1.5    Growth in cybersecurity breaches

3.10.2    Industry pitfalls & challenges

3.10.2.1    Cybersecurity concerns

3.10.2.2    Lack of skilled professionals

3.11    Growth potential analysis

3.12    Porter's analysis

3.13    PESTEL analysis

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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