DUBLIN, December 5, 2013 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/xjvvs8/global_cloud) has announced the addition of the "Global Cloud Security Software Market 2012-2016" report to their offering.
(Logo: http://photos.prnewswire.com/prnh/20130307/600769 )
The analysts forecast the Global Cloud Security Software market to grow at a CAGR of 49.4 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing usage of cloud services for critical data storage. The Global Cloud Security Software market has also been witnessing an increasing number of partnerships between cloud service providers and security solution providers. However, the availability of open source security software could pose a challenge to the growth of this market.
The key vendors dominating this space include CA Technologies Inc., McAfee Inc./Intel Corp., Symantec Corp., Symplified Inc., and Trend Micro Inc.
The other vendors mentioned in this report are Awareness Technologies Inc., CipherCloud Inc., CloudPassage Inc., Commtouch Software Ltd., CREDANT Technologies Inc., Dome9 Security Ltd., HyTrust Inc., IBM Corp., Novell Inc., Okta Inc., Panda Security S.L., ProofPoint Inc., SafeNet Inc., SecureAuth Corp., ThreatMetrix Inc., Vyatta Inc., WhiteHat Security Inc., and Zscaler Inc.
Commenting on the report, an analyst from the team said: In the future years, as the market tends towards maturity, cloud security could become an integral part of cloud services. Hence, CSPs will be compelled to provide cloud security along with cloud services. In addition, it is also expected that CSPs will enter into partnerships with security solution providers for value-added security services that will work as differentiators in cloud adoption. The increasing frequency of cloud-specific attacks will give rise to further value-added security. Thus, over a period of time, cloud security is expected to become a major buying criterion for customers. This will lead to an increase in the number of partnerships among CSPs and security solution providers. For instance, Trend Micro entered into a global alliance with cloud and virtualization service provider VMware in 2010. Similarly, Cloud.com, a provider of open source cloud computing solutions, entered into a partnership with Symplified, a cloud security company, in 2011, to provide service providers with SSO capabilities.
According to the report, the major drivers in this market are the increasing usage of cloud services for critical data storage and the sudden increase in cloud service-specific attacks. Driven by multiple factors such as flexibility, cost savings, and easy availability, an increasing number of companies are transferring their data to the cloud. However, this is also exposing these companies to various risks associated with cloud computing.
For more information visit http://www.researchandmarkets.com/research/xjvvs8/global_cloud
About Research and Markets
Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
SOURCE Research and Markets