ALBANY, New York, January 14, 2016 /PRNewswire/ --
In a recent market study offering by Transparency Market Research (TMR), the global cloud security market is projected to grow at a CAGR of 12.80% from 2015 to 2022. The report, titled "Cloud Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022", states that the global cloud security market will reach a valuation of US$11.8 bn by 2022 increasing from its 2014 valuation of US$4.5 bn. According to the report, factors such as the rapid proliferation of handheld devices, the increasing trend of CYOD and BYOD policies in corporate organizations, increasing use of cloud-based computing by small and medium scale businesses, and ease of use of cloud security services are driving the cloud security market.
Full Research Report on Global Cloud Security Market with detailed figures and segmentation at: http://www.transparencymarketresearch.com/cloud-security-market.html
In cloud computing services, deployment of remote servers and a cluster of software networks enables upload of different types of data sources for real-time processing in order to obtain better computing results. Cloud computing allows several users to access a single server and database for both saving and retrieving data. To cater to changing business needs, a large number of organizations are switching from conventional CAPEX model to an OPEX model. This is because the former provides dedicated hardware for organizations that depreciate over time, whereas, in the latter, a collective cloud infrastructure is utilized by organizations and the charges incurred are dependent on use.
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The report states that, in recent years, cloud computing has had strong demand from corporate data centers. The use of cloud services enables data centers to work like the Internet, wherein computing resources can be accessed and shared virtually in a secure and scalable manner. Owing to the several benefits of cloud computing, the adoption of these services is on the rise in small and medium-sized businesses (SMBs). Typically, SMBs have insubstantial funds and inadequate organizational capability for the purchase, maintenance, and deployment of computing resources in limited time. Thus, cloud computing serves the need for SMBs to access these resources and expand or minimize services according to the current requirement.
Browse the Press Release of this report, here: http://www.transparencymarketresearch.com/pressrelease/cloud-security-market.htm
On the same lines, the pay-as-you-go subscription type is best-suited for SMBs, as it allows them to add or remove services as per requirement. Thus, the increasing demand for cloud computing from SMBs is fueling the cloud security market for the forecast period.By deployment, in 2014, hybrid cloud security accounted for the largest market share of almost 43% of the overall market. The ease of data storing is responsible for the large market share of these services. In 2014, IT and telecommunication accounted as the largest end user of cloud security services, with a share of almost 29% in the global market. The escalating use of Android phones among end users will lead to increasing use of cloud security services by telecom carriers in the years to come, adds the report.
The global cloud security market is segmented as:
Cloud Security Market by Deployment Type
- Public Cloud
- Private Cloud
- Hybrid Cloud
Cloud Security Market by End-use Industry
- Government and Public Utilities
- IT and Telecommunication
- Hospitality and Retail
- Healthcare and Pharmaceuticals
Cloud Security Market by Service Type
- Data Loss Prevention
- Email and Web Security
- Cloud IAM
- Cloud Database Security
- Network Security
- Virtualization Security
Cloud Security Market by Geography
- North America
- Middle East and Africa (MEA)
- Latin America
Other Research Reports by Transparency Market Research:
- Building Information Modeling (BIM) Market: http://www.transparencymarketresearch.com/building-information-modeling-market.html
- Disaster Recovery as a Service (DRaaS) Market: http://www.transparencymarketresearch.com/disaster-recovery-a-service-market.html
- Platform as a Service (PaaS) (Public, Private and Hybrid Cloud) Market: http://www.transparencymarketresearch.com/platform-as-a-service.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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SOURCE Transparency Market Research