BANGALORE, June 24, 2015 /PRNewswire/ --
The report presented by Mordor Intelligence consists of a detailed account of the Cloud Security Software Market. This report is segmented by Type (Cloud IAM, Cloud Email, Cloud IDS/IPS, Cloud Encryption, Cloud Network Security, Cloud Database Security) - By Industry - By Geographical Region (North America, Europe, APAC, Rest of World) -Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2014-2020). This report is mainly focused on the Cloud Security Software estimates where many Small and Medium Businesses (SMB) are moving into cloud technology because of the lower cost of ownership and the increasing data breaches in the organizations are resulting in heavy losses.
The Global Cloud Security Software market was valued at $2.15 billion in 2014 and is estimated to reach $16.11 billion by 2020 which is growing at a Compounded Annual Growth Rate (CAGR) of 39.84% during the forecasted period 2014-2020. As the market matures, cloud security is estimated to become an integral part of cloud infrastructure, which will encourage cloud service providers to partner with security solution providers to provide security software and maintain their competitiveness. The Cloud Security market witnessed a high growth when many of the enterprises did make a move towards cloud technology for cost cutting, flexibility, maintenance and agility. This boom led to a rise into cloud specific threats which further gave rise to cloud security solutions.
The major drivers for this market are increasing Cyber-attacks & Data breaches and lower cost involved in ownership of cloud infrastructure. The security and privacy issues such as the ownership of the key management, lack of awareness and availability of open source security software providers are posing challenges to this market.
North America dominates the cloud security market throughout the forecasted period followed by Europe and Asia Pacific region. Cloud Email Security was the largest segment in 2014 and together with Cloud Encryption accounted for more than 53% of the overall market. Cloud Network Security is the fastest growing segment which will dominate the market by the end of 2020. Considering the Industry verticals, Banking & Finance is the leading vertical followed by Telecom & IT throughout the forecasted period.
The Cloud Security Software market report includes competitive vendor landscape while considering major companies such as CA Technologies, Trend Micro, Symantec, McAfee, IBM and Cipher Cloud. The other key players in the market include Okta, Panda Security, Microsoft, Cisco, Websense, Fortinet, Barracuda Networks, Porticor, Clearswift, Juniper, Voltage Security, Perspecsys, Vaultive and Others.
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SOURCE Mordor Intelligence LLP