DUBLIN, August 12, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Cloud Security Market in the Retail Sector 2016-2020" report to their offering.

The report forecasts the global cloud security market in retail sector to grow at a CAGR of 20.91% during the period 2016-2020.

Increasing mobile workforce will be a key trend for market growth. The mobile workforce in the US was 96 million in 2015, and it will reach 105 million by the end of 2020. Developing regions have been witnessing a change in the working culture of organizations. With constantly changing business scenarios, organizations are required to develop a mobile workforce in order to stay competitive. The demand for flexible IT services is increasing, which can be met by cloud solutions. In addition, changes in work locations, time zone barriers, and the need to access official and confidential data using employees' personal devices is resulting in an increased demand for cloud services. In order to address these changes, IT service providers are providing tailor-made cloud services for smartphones and tablets. This trend will strengthen in the future, thereby pushing the market growth.

According to the report, increase in phishing and malware attacks in retail sector will be a key driver for market growth. Approximately 63% of the data breaches in 2015 were due to default, stolen, or weak passwords. A major reason for the adoption of cloud security is the increase in cloud-specific attacks such as crimeware, cyber-espionage, and DoS. The growing use of cloud-based services has led to the increase in cloud security attacks, which results in data theft and identity theft.

Further, the report states that inconsistent network performance will be a challenge for the market. One of the major requirements for the efficient performance of cloud security solutions is a strong and robust network connection. However, developing regions and some parts of developed regions are still plagued with slow and unstable network connections. The lack of proper network connections will expose cloud services and applications to cyber-attacks. Slow network connections also lead to time lags or latency issues. This makes it difficult to identify and provide access to authorized users and affects the reliability of cloud security solutions, thereby hindering their adoption.

Key vendors:

• Cisco
• IBM
• Intel (McAfee)
• Symantec
• Trend Micro

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Architecture of cloud security

PART 06: Market landscape

PART 07: Life cycle analysis

PART 08: Market segmentation by solutions

PART 09: Geographical segmentation

PART 10: Key leading countries

PART 11: Buying criteria

PART 12: Market drivers

PART 13: Impact of drivers

PART 14: Market challenges

PART 15: Impact of drivers and challenges

PART 16: Market trends

PART 17: Vendor landscape

PART 18: Recommendations to retailers

PART 19: Appendix

For more information about this report visit http://www.researchandmarkets.com/research/htmlb8/global_cloud

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SOURCE Research and Markets