Survey anticipates Cloud Security market to cross $10 billion by 2021

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Cloud Security service offering vendors will feel happy on hearing this news. According to a survey conducted by TechSci Research report, Global Cloud Security Market is said to cross $10 billion spending by the year 2021. The said trend will be witnessed due to cloud computing adoption on a wider scale in the corporate world, rising demand for managed security services, increase in smartphone usage and due to data security concerns.

As per the study, internet users across the globe accounted to 3.14 billion in 2015 and is said to reach 3.29 billion marks by the end of 2016. So, obviously, a virtual storage infrastructural need will evolve creating a business space for cloud storage providers.

TechSci survey revealed that there were just 1.89 billion smartphone users in 2015. But in this year the count touched the mark of 2.12 billion.
Thus, all this culminates to prove a single point that Cloud storage offering companies will surely have a bright future ahead.

The report classifies services such as web security, email security, data loss prevention, identity & access management as the best cloud security services which will witness a great demand in future. And in past couple of years, a consistent growth has been witnessed in the above said service categories due to an increase in usage of cloud-specific services such as Software -as-a-Service, Infrastructure as a service, Platform as a Service, etc..

Furthermore, as corporate CIOs are stressing more on the adoption of Bring Your Own Device concepts data security concerns will automatically make them adopt cloud security solutions.

Moreover, as a steep rise in the internet of things the market is being witnessed these days and exponential growth in cyber security is predicted in future, the growth of cloud security market is assured in the projected period on a worldwide note.

Therefore, all those top players who are operating in the global market of Cloud Security like Trend Micro, Intel, IBM, Cisco and Symantec the world ahead is all yours.

TechSci survey predicted the cloud security market based on parameters such as market size, share, business verticals and by region. The survey was aimed to give a futuristic vision to industry consultants, cloud security providers and industry experts align their market-centric strategies in future.

Note- TechSci is a Manhattan market research firm which specializes in researching consulting assignments in high growth and emerging markets.

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Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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