Increasing Data Security Concern is Driving Global Cloud Security Market

The global cloud security market is anticipated to grow at a significant CAGR of around 13.9% during the forecast period (2025-2031). The market growth is primarily driven by the increasing number of cyber-attacks due to an upsurge in digitalization. The global cloud security market is segmented by Service Model (IaaS, PaaS, and SaaS), by security type (perimeter security, network security, endpoint security, application security, and others) by application (visibility & risk assessment, user & data governance, activity monitoring & analytics, threat protection & remediation/ mitigation, and other applications) by verticals (healthcare & life sciences, transportation & warehousing, manufacturing, educational services, and others), and geography (North America, Europe, Asia-Pacific, and the Rest of the World).

Market Dynamics

• The BFSI segment is expected to hold a prominent market share, owing to the rising adoption of advanced technologies such as blockchain capabilities, for security is contributing to the growth of the segment. Additionally, service providers in the market are launching efficient solutions to assist businesses store data safely and efficiently, contributing to market growth. 

• Asia Pacific is expected to be the fastest-growing market during the forecast period owing to the rapid adoption of new technology in emerging countries.

• North America is expected to hold a prominent share attributed to the growth of new technologies in the regional cloud security market. Additionally, the presence of significant market players in the region is contributing to the growth of the regional market. 

The major companies serving the global cloud security market include Amazon Web Services, Inc., Check Point Software Technologies Ltd., Cisco Umbrella, DXC Technology Co, Foreseeti AB, Fortinet, Inc., and others. The market players are contributing significantly to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches. 

Recent Development

• In April 2023, Accenture and Google Cloud extended the partnership to help businesses better protect critical assets and strengthen security against persistent cyber threats. Through the partnership the companies provide technology, infrastructure, and security expertise to businesses, to build security programs.  

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