Fort Collins, Colorado, Oct. 27, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, theCloud Security Market was valued at USD 27.4 Billion in 2022 and is expected to reach USD 106.4 Billion by 2032 and is expected to reach a CAGR of 14.6%.
Cloud security refers to policies outlining the security structure for cloud-based systems and data. In addition, there are security measures to follow for cloud data, with regulatory compliance, protecting customers' privacy, and incorporating security levels for individual users and devices.
The main factor that helps in the growth of the cloud security market is the rise in cloud computing amongst businesses and the implementation of BYOD (Bring Your Own Device). With online breaches, cloud security has been required to protect and safeguard the system, helping the market grow.
The cloud's scalability and smooth user experience are credited for the continually growing trend in demand for hybrid, serverless computing and DevOps development, which helps the market grow. Post-COVID-19, enterprises have shifted to data centers and the cloud. Also, the remote work settings have pushed the market forward for cloud security as it transforms the remote settings. Organizations looking to utilize the benefits of both private and public clouds are increasingly adopting the hybrid cloud approach and allows them to benefit from both the security and cost savings of the private cloud. A hybrid cloud offers cost and flexibility advantages and greater control over essential data and applications.
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Segmentation Overview:
The globalcloud security market has been segmented into security type, enterprise size, end-user, and region. The IAM category is expected to lead the market in terms of security.The rapid growth in the enterprise size segment accounts for extensive growth in the infrastructure segment as organizations need to maintain the infrastructure for support and services; this leads to an increase in growth in the segment.
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Cloud Security Market To Reach USD 106.4 Billion By 2032 Says ... - GlobeNewswire
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