According to a new market research report "Cloud Workload Protection Market by Solution (Monitoring and Logging, Policy and Compliance Management, Threat Detection Incident Response), Service, Deployment Model, Organizational Size, Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market size is expected to grow from USD 2.25 Billion in 2018 to USD 6.70 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 24.4% during the forecast period.
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The demand for cloud workload protection is driven by various factors, such as the increasing adoption of the multi-cloud strategy among enterprises, centralized policy enforcement, simplified installation of distributed enterprise workloads, dire need to fortify enterprise workloads against unauthorized strikes, and seamless scalability and reduced operational costs.
The monitoring and logging segment is estimated to contribute the largest market share in 2018.
Among solutions, the monitoring and logging segment is estimated to account for the largest market size in 2018. The major factors driving the growth of this segment include the benefit of gaining centralized visibility and control over high-volume cloud workloads.
The hybrid cloud segment is expected to grow at the highest CAGR during the forecast period.
The hybrid cloud segment is expected to gain the highest traction in the Cloud Workload Protection Market during the forecast period. This segment provides more control, reduced risks, cost-efficiency, and better performance. Additionally, it provides an ideal combination of public cloud and private cloud features, such as the versatility and cost-effectiveness of the public cloud, and greater control and security of the private cloud.
North America is expected to contribute to the largest market share, whereas Asia Pacific is projected to grow at the highest CAGR during the forecast period.
North America is expected to account for the largest market share and dominate the Cloud Workload Protection Market during the forecast period. The major growth drivers for this region are the increasing need to prevent cyber threats, growing adoption of cloud services, better security compliant offerings by vendors, and need for enhanced control and visibility mechanisms.
The major vendors providing cloud workload protection solutions and services are Bracket (US), CloudPassage (US), Dome9 (US), Evident (US), GuardiCore (Israel), HyTrust (US), LogRhythm (US), McAfee (US), Sophos (UK), Symantec (US), Trend Micro (Japan), and Tripwire (US).
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