Cloud Compliance Market by Component, Application, Cloud Model, Organization Size, Vertical, and Region
The global cloud compliance market is expected to grow from USD 30.0 billion in 2022 to USD 59.1 billion by 2027, at a compound annual growth rate (CAGR) of 14.5% during the forecast period. forecast. The COVID-19 outbreak has led to a sharp increase in cloud adoption globally across various industries.
New York, Sept. 30, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Cloud Compliance Market by Component, Application, Cloud Model, Organization Size, Vertical and Region – Global Forecast to 2027” – https: // www.reportlinker.com/p06323917/?utm_source=GNW
The global lockdown and remote work necessitated by the pandemic has forced businesses to embrace cloud services to a large extent. Major cloud computing companies, such as Amazon and Google, are investing heavily in improving their cloud security offerings to combat the ever-changing cyberattack scenario. Microsoft reported a 775% increase in demand for its cloud services platform during the pandemic. However, migrating to the cloud also makes organizations more vulnerable to cyberattacks. Enterprises operating on cloud environments, such as Google Cloud, Azure, and AWS, strongly demand cloud security offerings.
• By component, the service segment is expected to grow at a higher CAGR during the forecast period
The services segment is expected to grow at a higher growth rate during the forecast period. The segment has been broadly categorized into professional and managed services.
The services aim to train and develop expertise, provide timely software solution upgrades and help customers integrate with other information technology (IT) solutions. With the growing adoption of cloud compliance solutions in organizations, the demand for support services is also expected to increase among organizations.
• By organization size, the large enterprise segment is expected to account for the largest market share
The large enterprise segment is expected to account for the largest market size. Organizations with more than 1,000 employees are called large enterprises.
These companies are early adopters of cloud compliance software and related services because they use many cloud applications susceptible to cyberattacks. As these companies are large, with different types of IT infrastructures, they face various challenges when managing security and compliance across multiple applications across enterprises.
• By vertical, healthcare segment is expected to grow at the highest CAGR during the forecast period
The healthcare segment is expected to grow at the highest CAGR during the forecast period. The vertical has always been more cautious about new deployment mechanisms, especially when they involve the cloud.
In healthcare, patient care is of the utmost importance, and it goes beyond clinical care. The growing need to protect private patient data and records and comply with data privacy and security requirements is driving the adoption of cloud compliance software solutions in the healthcare industry.
The distribution of the profiles of the main participants is given below:
• By company: level 1 – 40%, level 2 – 35% and level 3 – 25%
• By designation: C-level executives – 45%, administrators – 30%, other – 25%%
• By region: North America – 35%, Europe – 30%, Asia-Pacific – 20%, Rest of the world – 15%
Others include sales managers, marketing managers, and product managers.
Companies were ranked according to their total annual turnover.
Level 1 = Companies with turnover greater than 10 billion USD, Level 2 = Companies with turnover between 1 and 10 billion USD, and Level 3 = Companies with turnover between 500 million USD and 1 billion USD
The figure above represents the indicative list of primary profiles.
Source: Secondary literature, expert interviews, and market and market analysis
The following major cloud compliance providers are featured in the report:
• Microsoft (USA)
• IBM (USA)
• Checkpoint (Israel)
• AT&T (USA)
• Broadcom (USA)
• Qualys (USA)
• Nutanix (USA)
• Sophos (UK)
• Oracle (USA)
• Palo Alto networks (United States)
• AWS (USA)
• Lace (United States)
• Zscaler (US)
• McAfee (USA)
• Fidelis Cybersecurity (United States)
• Fortinet (USA)
• Atos (France)
• Radware (Israel)
• Proofpoint (USA)
• Orca Security (USA)
• Aqua Security (USA)
• Secureframe (USA)
• Cavirine (USA)
• Vanta (USA)
• Horangi Cyber Security (Singapore)
• Cloudcheckr (US)
• Threat Stack (US)
• Fungue (United States)
• Sonrai Security (USA)
MarketsandMarkets segments the cloud compliance market on the basis of components (software and services), applications (audit and compliance management, threat detection and remediation, business monitoring and analytics, risk visibility and assessment, and other verticals) , cloud model (IaaS, PaaS and SaaS), organization size (large enterprises and SMBs), vertical sector (BFSI, government, healthcare, IT and ITeS, retail and e-commerce, manufacturing, utilities and others verticals) and region (North America, Europe, Asia-Pacific, Middle East and Africa and Latin America).
The report also provides a comprehensive review of Cloud Compliance market drivers, restraints, opportunities, and challenges. It covers the qualitative aspects in addition to the quantitative aspects of the market.
Reasons to buy the report
The report would help market leaders and new entrants in the following ways:
• It comprehensively segments the Cloud Compliance market and provides the closest approximations of revenue figures for the overall market and its sub-segments across different regions.
• It would help the stakeholders to understand the pulse of the market and provide insights into the key market drivers, restraints, challenges, and opportunities in the market.
• It would help stakeholders to better understand their competitors and acquire more information to improve their position in the market. The competitive landscape section includes an ecosystem of competitors, new product launches, product enhancements, partnerships, mergers and acquisitions.
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