Market Highlights
Cloud workload protection is a growing concern as the incidences of web-based threat are observed to surge. Market Research Future (MRFR) identifies this factor to be a major cause for the global cloud workload protection market to strike a CAGR of 22.4% over the forecast period (2018-2025) and scale to a valuation of USD 6.89 billion by 2025.
Drivers and Restraints
The global market for cloud workload protection is driven by the need for securing public cloud workloads, reduce risks, and increase cost savings is another factor promoting the market for cloud workload protection solutions and services. Rising demand for cloud workload protection solutions and services from banking, financial services, and insurance (BFSI) verticals provides profitable opportunities to the key players in the global market. Along with this, the growing adoption of a multi-cloud strategy among enterprises is another reason enhancing market growth. On the other hand, inadequate technical expertise to handle complex and distributed cloud workload is a challenge for this market. Additionally, the multiple regulatory compliance issues are a matter of concern and act as a limitation to this market. Moreover, issues related to numerous regulatory compliances are expected to limit market growth over the review period.
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Segmentation:
The global cloud workload protection market has been segmented on the basis of component, organization size, deployment model, and vertical.
Based on the component, the global cloud workload protection market has been segmented into solutions and services. The solutions segment has been further classified into vulnerability assessment, policy and compliance management, monitoring and logging, threat detection and incident response, and others. The services segment has been narrowed down to support and maintenance, managed services, training, consulting, and integration and others. Monitoring and logging solutions offer efficient control over high-volume cloud workload and centralized visibility, which is surging their rate of adoption. Hence, the monitoring and logging segment is expected to register a healthy growth over the forecast period.
Based on the organization size, the global cloud workload protection market has been segmented into small- and medium-sized enterprises (SMEs) and large enterprises. The large enterprises segment is expected to register a healthy growth throughput the review period. The SMEs segment is also likely to scale to a substantial valuation by the end of the forecast period.
Based on the deployment model, the global cloud workload protection market has been segmented into private cloud, public cloud, and hybrid cloud. The hybrid cloud segment is likely to garner a lucrative CAGR across the evaluation period.
Based on the vertical, the global cloud workload protection market has been segmented into retail and consumer goods, IT and telecommunication, media and entertainment, government and public sector, BFSI, healthcare and life sciences, energy and utilities, manufacturing, and others. The BFSI and IT and telecom segments are anticipated to exhibit higher CAGR throughout the review period over other segments.
Geographic Analysis
Further country-level breakdown of the North American Market
Further country-level breakdown of the European Market
Further country-level breakdown of the APAC Market
Further country-level breakdown of the MEA Market
Further country-level breakdown of the Latin American Market
Regional Overview
The geographical overview global market has been conducted in four major regions, namely the Asia Pacific, North America, Europe, and the rest of the world (including Latin America and the Middle East and Africa).
APAC is expected to witness the highest CAGR during the forecast period. The increasing adoption of cloud workload protection solutions and services, and advanced cybersecurity attacks are expected to be the major driving factors for the growth of the cloud workload protection market in this region. The increased Information and Communications Technology (ICT) expenditure in the government infrastructure, cloud protection initiatives, and the need to prevent unauthorized access to networks are some of the factors that have contributed to the growth of the market in the APAC region. The need to adhere to different regulatory compliances and lack of technical expertise among the enterprise staff are some of the major restraints and challenges in the market.
Competitive Landscape
The top market players identified by MRFR in the global market are CLOUDPASSAGE (US), DOME9 SECURITY INC. (Israel), HYTRUST, INC. (US), LogRhythm, Inc. (US), Tripwire (US), Trend Micro Incorporated (Japan), McAfee, Inc. (US), Symantec Corporation (US), Sophos Ltd. (UK), Guardicore (Israel), Kaspersky (Russia), Google (US), Qualys, Inc. (US), Nutanix (US) and Akamai Technologies (US).
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Cloud Workload Protection Market Research Report: by Component [Solution (Vulnerability Assessment, Monitoring and Logging, Policy and Compliance Management, Threat Detection and Incident Response, Others), Service (Support and Maintenance; Training, Consulting and Integration; Managed Services)], Organization Size (Large Enterprise, Small and Medium-Sized Enterprise), Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), Vertical (IT and Telecommunications, Banking, Financial Services and Insurance (BFSI), Government and Public Sector , Healthcare and Life Sciences, Energy and Utilities , Media and Entertainment , Retail and Consumer Goods, Manufacturing , Others), Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) – Forecast till 2024
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