Cloud Security Market to Cross $10 Billion by 2021: TechSci Research Report
NEW YORK, December 7, 2016 /PRNewswire/ --
Growing adoption of BYOD concept among enterprises, rising cases of data breaches along with increasing usage of cloud storage solutions to drive global cloud security market through 2021
According to TechSci Research report, "Global Cloud Security Market By Service Type, By Deployment Mode, By End User, By Region, Competition Forecast and Opportunities, 2011 - 2021", global cloud security market is projected to cross $10 Billion by 2021, on account of increasing adoption of cloud computing, rising demand for managed security services, increasing smartphone user base and growing number of data breach incidents. Further, number of internet users across the globe stood at 3.14 billion in 2015 and this is estimated to reach 3.29 billion by 2016. This has fueled need for virtual storage infrastructure such as cloud. Moreover, in 2015, number of smartphone users across the globe stood at 1.89 billion and is estimated to reach 2.12 billion by 2016.
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Browse 104 market data Tables and 133 Figures spread through 280 Pages and an in-depth TOC on
"Global Cloud Security Market"
IT & telecom witnessed an increase in the number of cyber attacks and data breaches incidents aimed at gaining access to financial data, identity theft, etc. Due to such instances IT & telecom companies across the globe are focusing on adoption of cloud security services. Additionally, growing e-commerce industry, emergence of various e-commerce mobile applications and growing tie-ups of various advertising companies, etc., is increasing data security breaches. Further, growth in ecommerce sector is generating large volumes of data and this is fueling use of cloud infrastructure for storage of this data. Thus, retail companies are adopting cloud security solutions to safeguard data from hackers and this is projected to propel demand for cloud security solutions from various end user industries across the globe during the forecast period.
Figure: Global Data Breaches, By End Use Industry, 2015
End Use Industry Market Share
Business 39.95%
Healthcare 35.47%
Banking 9.09%
Government/ Military 8.07%
Education 7.43%
Source: Identity Theft Resource Centre
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"Rising cyber security market, growing adoption of bring your own device concept (BYOD) concept, rapidly growing internet of things market, etc., are factors projected to boost demand for cloud security solutions across the globe in the coming years. Growing need for data security across various verticals such as BFSI, retail, government, etc., coupled with rising use of mobility devices is also fueling demand for cloud security solutions such as identity & access management, data loss prevention, email security, etc., across the globe." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global Cloud Security Market By Service Type, By Deployment Mode, By End User, By Region, Competition Forecast and Opportunities, 2011 - 2021" has evaluated the future growth potential of global cloud security market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global cloud security market.
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